Which type of trust provides care for an animal or supports noncharitable purposes?

Prepare for the Delaware Wills and Trusts Test. Utilize flashcards and multiple-choice queries, with each question offering hints and clarifications to help you excel in your exam!

The correct choice is the honorary trust, which is designed specifically to provide care for an animal or to support noncharitable purposes. An honorary trust lacks a traditional beneficiary in the sense of being for a person or recognized charitable organization. Instead, it can be established for the benefit of pets or animals, ensuring that they are cared for after their owner’s death, or for other purposes that do not fall within the realm of charitable interests.

Such trusts are often used to fulfill the wishes of the creator in ensuring that their pets receive proper care, funding, and attention. In many jurisdictions, honorary trusts are recognized and enforceable for a duration that is reasonable given the nature of their purpose.

Other types of trusts have more defined structures and purposes. A beneficiary trust, for example, has identifiable beneficiaries who are entitled to receive benefits from the trust assets, while a charitable trust is specifically intended for charitable purposes and must benefit a recognized charity. An inter vivos trust is created during the lifetime of the grantor and can either serve charitable or beneficiary needs, but it does not specifically apply to animal care or noncharitable purposes in the same way an honorary trust does. Thus, the honorary trust stands out as the most appropriate answer for this question.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy