An honorary trust, under the law of trusts, is a device by which a person establishes a trust for which there is neither a charitable purpose, nor a private beneficiary to enforce the trust. While such a trust would normally be void for lack of a beneficiary, many jurisdictions have carved out two specific exceptions to this rule: trusts for the care of that person's pets; and trusts to provide for the maintenance of cemetery plots.
The name of the device derives from the lack of any beneficiary legally capable of enforcing an honorary trust: the trustee is bound by honor, but not by law, to carry out the wishes of the creator of the trust.
What Happens If You Go First? A Pet Trust Will Provide Continuing Care According to Your Wishes-And It Will Be Legally Enforceable
May 01, 2013; Outliving your cat is painful, but its the natural order, given the comparatively short feline lifespan. More difficult, and more...
What Happens If You Go First: A Pet Trust Provides Continuing Care According to Your Wishes-And It's Legally Enforceable
Apr 01, 2013; Outliving your dog is painful, but it's the natural order, given the short canine lifespan. More difficult--and more crucial--to...