Readers may recall Eric Penzer’s previous entries regarding Leona Helmsley’s charitable trust in which she expressed a desire that its millions of dollars be used for the care and welfare of dogs. This week he addresses the New York County Surrogate’s Court’s latest decision on the issue, after animal welfare charities sought to intervene in the proceeding and vacate a prior determination that the trust assets could be distributed to any charities as the executors saw fit.
Continue Reading Surrogate: Dog Groups Barking Up The Wrong Tree
trusts for pets
A Sop For Cerberus
This week’s post informs readers of the recent New York County Surrogate’s Court decision regarding whether the trustees of Leona Helmsley’s charitable trust must actually use its funds for the care and welfare of dogs.
Continue Reading A Sop For Cerberus
Leona’s Wishes May be Thrown To The Dogs
If you don’t like dog puns, you might want to stop reading now.
Hotelier and real estate magnate Leona Helmsley loved dogs and she made no bones about it. Leona Helmsley left $12 million in her will in trust for her dog, Trouble. And, although Surrogate Renee Roth reduced the trust to $2 million, that amount should still be sufficient for Trouble to live, well, a dog’s life for her remaining years. (After all, Trouble’s annual living expenses have been estimated at only $180,000.)
The amount of the Trouble Trust, however, pales in comparison to the full amount of the charitable trust Mrs. Helmsley created — valued at between $5 billion and $8 billion. In a two page “mission statement,” Mrs. Helmsley expressed her desire that the money be used for the care and welfare of dogs. (Actually, it has been reported that she initially stated that the money should go to poor people and dogs, but she later turned tail on poor people, dropping them from the list.)