Oddball Trusts Law and Legal Definition
Oddball trusts are trusts created for the purpose of caring an animal that was alive at the time of grantor’s death. The term is also used to refer trusts created for non charitable purpose without an ascertainable beneficiary (eg: cemetery trust). This trust is covered under the Uniform Trust Code (UTC). There are certain limitations imposed on this trust :
1.Trusts for caring animals last only as long as the animal is alive. Cemetery trusts cannot last for more than 21 years.
2.the scope of the trust extend only up to the intended use of animal or the cemetery plot
Therefore, the court may intervene and distribute the trust’s funds to the grantor’s successors in interest if it finds that the trust has property that exceeds the amount required for the animal’s care.
