Page 18 April 2012 This month’s report from local attorney Bob Jones My daughter and son-in-law have been advised their two tortoises are likely to outlive them. This has resulted in the dilemma of who would care for the tortoises when they were gone and how could they be sure the care would be provided. Telling them their 3-month-old daughter would certainly take care of the tortoises since, in my son- in-law’s words, they would be her life-long pets wasn’t suf fi cient. Arizona has adopted a statute under its Probate Code, speci fi cally Arizona Revised Statutes (A.R.S.) §14-2907, which may be a solution. The statute was adopted to allow for creation of a trust for a “designated domestic or pet animal.” The language of the statute is aimed at carrying out the intent of the “transferor,” who mostly likely would be the trustor who created the trust. I have had many clients who elevate their pets to the level of a family member and are not satis fi ed with leaving their care to whoever was willing to take them at their passing. Now there is a legal device available to assure the pet’s protection. The statute provides that the trust terminates when no living animal is covered by the trust and the remaining trust property, if any, is to then be distributed by the trustee in accordance with the trust agreement. The statute speci fi cally provides that none of the principal or income of the trust may be used by the trustee for any purpose other than for the bene fi t of an animal covered by the trust. There are additional provisions in the statute empowering the Court to supervise the trust giving the Court the authority to reduce the amount of property transferred to the trust if the Court determines the amount exceeds what is needed for the purpose of the trust. The Court may replace a trustee and enter orders to make certain the intent of the trust is carried out. Unless the trust agreement provides for it, or a Court orders it, the typically necessary Court fi lings, reports, accountings and appointment of trustee is speci fi cally not required by the statute, even though the trustee has a fi duciary relationship. The trust could be a stand-alone trust, but more likely would take the form of a testamentary trust provided for under a will or a trust arising under a revocable/ living trust. The Two Tortoises Trust could be a solution. Bob Jones is a 20-year Arcadia resident and shareholder at Gallagher & Kennedy. WANTED: C e l l : ( 6 0 2 ) 6 1 9 - 4 5 5 0 • O f f i c e : ( 4 8 0 ) 2 8 7 - 5 2 0 0 7 1 3 5 E . C a m e l b a c k R o a d , Su i t e 3 6 0 , S c o t t s d a l e c i o n n e . m c c a r t h y @ r u s s l y o n . c o m w w w. C i o n n e M c C a r t h y. c o m Cionne McCarthy would like to represent YOU in your next Real Estate transaction. Whether you’re Buying or Selling, regardless of the price range Cionne and her team of experts can help you navigate your way through any possible scenario. With over 30 years of experience as a top producing Russ Lyon Sotheby’s International Real Estate agent Cionne has handled it all. & Buyers Sellers Buyers Sellers Cionne McCarthy is one of the most dedicated, determined and hardworking real estate agents I have ever hired to sell a home... She sold two luxury homes for me in obviously one of the worst economic times we have ever seen in 2009 and again in 2011, both times getting one of the highest per square foot price at the time…. Cionne has the highest level of integrity, loyalty and maintains an impeccable reputation throughout the community which she has lived and sold real estate in for the past thirty years. This is what makes Cionne far above most people in the world of real estate and why I highly recommend her for all your real estate needs. ~ Michelle Carlino-Brown SOLD: 4057 N. 58th St., Phoenix, September 8, 2009. $1,300,000 6003 N. Saguaro Rd., Paradise Valley, January 23, 2012, $4,600,000 “ $ 10 off *Not valid with any other coupon, sales or negotiated markdowns. 1 coupon per customer, per visit. Coupon must be presented at time of purchase. Coupon expires CONSIGN AND BUY FROM A LOCALLY OWNED CONSIGNMENT STORE We specialize in upscale consignment furniture and decor that suits any taste. From modern to Asian to rustic, sofas, chairs and wall decor. Looking to sell SLHFHVWKDWGRQ·WÀ W\RXUQHZKRPHDQGVW\OH" Why not consign them here! It’s time to discover N Acoma Thunderbird Scottsdale N Thomas Rd. 68th St. THUNDERBIRD SQUARE NORTH 14202 N. Scottsdale Rd. 480-664-0580 NEW LOCATION NOW OPEN! 2728 N. 68th St. 480-874-5813 Scottsdale Design Center 68 your purchase of $ 35 or more Bring this ad in and receive WE MAKE IT SIMPLE TO SELL AND EASY TO SHOP switchconsignment.com 0RQ6DWDPSP6XQDPSP 6/30/12.
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