NM - Pet Trusts - Chapter 46A. Uniform Trust Code.
Summary: Section 46A-4-408, was adopted in 2003, and did not repeal the previous pet trust law. However, in 2016, the original pet trust law (46A-4-407) was finally repealed. The new section follows the language of the Uniform Trust Code and simply states that a trust for the care of an animal alive during the settlor's lifetime is valid. The trust terminates upon the death of the last animal named and any excess trust property is distributed to the settlor, if living, or his or her successors in interest.
Section 46A-4-408, was adopted in 2003, and did not repeal the previous pet trust law. However, in 2016, the original pet trust law (46A-4-407) was finally repealed. The new section follows the language of the Uniform Trust Code and simply states that a trust for the care of an animal alive during the settlor's lifetime is valid. The trust terminates upon the death of the last animal named and any excess trust property is distributed to the settlor, if living, or his or her successors in interest.