ORLANDO, Fla. (CBS ORLANDO)- The parents of a 2-year-old boy who was killed last month by an alligator at a Walt Disney World resort will not sue the entertainment giant.

Matt and Melissa Graves released a statement Wednesday saying that they are establishing a foundation in honor of their son, Lane, who was dragged underwater June 14 in the Seven Seas Lagoon at the Grand Floridian Resort & Spa.

“Melissa and I are broken. We will forever struggle to comprehend why this happened to our sweet baby, Lane. As each day passes, the pain gets worse, but we truly appreciate the outpouring of sympathy and warm sentiments we have received from around the world.

"We know that we can never have Lane back, and therefore, we intend to keep his spirit alive through the Lane Thomas Foundation. It is our hope that through the foundation we will be able to share with others the unimaginable love Lane etched in our hearts. In addition to the foundation, we will solely be focused on the future health of our family and will not be pursuing a lawsuit against Disney. For now, we continue to ask for privacy as we focus on our family.”

Officials said Lane was wading in the water when the alligator snatched him. Matt Graves attempted to rescue his son, but he said another alligator tried to attack him as he went into the water.

Trappers removed several alligators from Disney property after the attack, and Florida wildlife officials said they were confident that the gator that attacked Lane was captured.

Disney also erected fences at its beach resorts in the wake of the boy's death.

"We are installing signage and temporary barriers at our resort beach locations and are working on permanent, long-term solutions at our beaches," Jacquee Wahler, vice president of Walt Disney World Resort, said shortly after the fatal attack.