Trusts for Pets--Supplemental Comment--Posner

Professor Robert Sitkoff of Harvard Law School, an expert on trusts and estates, points out two errors in my post and also suggests a further point about trust governance. He writes that the uniform act is styled the "Uniform Trust Code," not "Act," and that section 408(c) authorizes the court--not the trustee, as stated in the second to last paragraph of the post--to reduce a bequest for the care of an animal. Limiting the power to reduce the gift to the court is critical especially when the trustee is the remainder beneficiary, as it is easier to reallocate a bequest to oneself than to undertake the distasteful act of killing the animal. But notice the governance problem posed by a trust for a pet animal. Normally a trust must be for the benefit of an ascertainable beneficiary. This rule, which the English call the "beneficiary principle," ensures that there is someone with an economic incentive to police the trustee's conduct. Contrast the world of charitable trusts, where the absence of such a person leaves supervision (such as it is) in the hands of the distracted (at best) state attorneys general. For a pet trust, the UTC addresses the enforcement problem by authorizing the donor or the court to name an enforcer. In functional terms, therefore, the Code treats dogs and other pet animals as if they were children. Both children and pets are permissible beneficiaries, but both require an alternate enforcement mechanism (albeit one that creates another agency relationship) because neither can bring suit themselves.

Comments

[Anonymous]

Hello everyone. Man is distinguished from all other creatures by the faculty of laughter.
I am from Slovenia and know bad English, give true I wrote the following sentence: "Com shopping articles vacuum cleaner."

With respect :-D, Vacuum cleaner vacuum appliances.

[Anonymous]

Hi. Turn the world over on its side and everything loose will land in Los Angeles.
I am from Denmark and also now am reading in English, give please true I wrote the following sentence: "Instead of stumbling for toothbrush, after shave lotions, shaving creams etc."

Best regards :-D, Bathroom furniture hampers.

[Anonymous]

How are you! The excellent site, has especially liked design. Thanks.
I am from Denmark and also am speaking English, give true I wrote the following sentence: "Some, like southwest, only sell tickets on their own site."

Thank you so much for your future answers 8-). Compare low airfares.

[Anonymous]

Excellent work, artists, currators, organizers.
I am from Hungary and now study English, give true I wrote the following sentence: "But even then, they are competing with laid off employees with far more experience."

Thank you very much ;-). Aleeza.

[Anonymous]

ÿ¥ÿßÿ™ ÿØŸÑÿπ

شات الود

[Anonymous]

شات الشلة

دردشة تعب قلبي

[Anonymous]

شات حبي

شات الحب

[Anonymous]

tiffany jewellery
ed hardy

[Anonymous]

links of london
abercrombie and fitch

[Anonymous]

links of london

[Anonymous]

very thanks for article!

[Anonymous]

ÿ¥ÿßÿ™
شات صوتى

[Anonymous]

Thanks very much for the compilation!links london
tiffany jewellery

[Anonymous]

Provides the best tiffany jewellery, including Necklaces, Pendants, Bracelets, Earrings,

Ringsat the lowest prices.Tiffany jewellery

is the best online United Kingdom jewelry stores where you can buy the cheapest Tiffany &

Co silver Our huge selection of
tiffany jewelry

[Anonymous]

good post,I think so!Abercrombie & Fitch on Sale, Hoodies, Jeans, T-Shirts, Pants, Polos

abercrombie and fitch abercrombie and fitch cheap abercrombie fitch Abercrombie Men Tee abercrombie womens polos

Abercrombie & Fitch Men, women, and children's clothing and accessories edhardylife a

famous ed hardy store which sell directly ed hardy clothing, shoes, boots, swim suit and

other cheap ed hardy ed hardy cheap Ed Hardy ed

hardy clothing,Providing authentic Ed Hardy Clothing with competitive price and

fast,secure delivery.The famous brand by Don Ed Hardy 's Vintage Ed Hardy

[Anonymous]

Pervert! Let's get out of here. There are so many perverts here.So what? You are such a bad person Who's gonna like you? Tiffany Jewelry Don't mind him. Don't mind him. He's just playing. Forget him. He saw me steal the diamond. Tiffany Jewelry You're dreaming! In your dreams. Wake up and smell the coffee.Where'd you get it!Good idea.Think it over.You can never tell about this sort of thing.Take a closer l Wake up and smell the coffee.Where'd you get it!Good idea.Think it over.You can never tell about this sort of thing.Take a closer look.When did I say that!You have to be on time. Don't be late. ook.When did I say that!You have to be on time. Don't be late.

[Anonymous]

بنت 18
شات بنت 18

[Anonymous]

بنت الكويت
شات بنت الكويت

[Anonymous]

Just love
tiffany
and
ugg boots,thanks!!

[nike air max]

*One of these days is none of these days!!!

[lower back pain]

With so many shares held in mutual funds and public retirement accounts, often run by the same caste of Yale or Wharton frat brothers it seems that much worse than the CEO's and a few upper management/interlocking board members siphoning off much of gleanings be there profits or losses, would have to happened before shareholders would rally to clean things up. Mostly, I suppose the only, very limited "clout" they'd have is that of selling and buying into another similar operation or mutual fund.

[Sciatica Treatment]

This is really interesting, You're a very skilled blogger. I've joined your feed and look forward to seeking more of your wonderful post. Also, I have shared your site in my social networks!

[pet tags]

Trusts for animals is quite strange indeed

[cycling clothing]

hahaha, tit dicks, thats great. way better than the much gayer version: dick cocks.

[nike air max 2011]

These shoes aren't just for Olympic lifts though, they are also used for slower lifts, like squats or deadlifts.