Trusts and Estates
Judge Cuts $10M from Leona Helmsley’s $12M Bequest to Dog
Posted Jun 16, 2008 12:43 PM CDT
By Martha Neil
The pet dog of deceased Leona Helmsley is losing $10 million of the $12 million that the 87-year-old hotel heiress left him in her will when she died last year, disinheriting two grandchildren.
But the elimination of most of Trouble's trust fund isn't expected to put a dent in the 9-year-old Maltese pooch's luxe Florida lifestyle, which costs about $190,000 annually, reports the New York Post.
Meanwhile, as part of a settlement in Manhattan Surrogate's Court that was made public today, according to the Associated Press, the two grandchildren will receive multimillion-dollar inheritances after all and have their legal fees reimbursed, the Post writes. The two had filed suit contending that Helmsley didn't have the mental capacity to make a will when she signed one on July 15, 2005.
"The highly unusual deal was signed off on by both the state Attorney General's Office, which oversees charities, and Surrogate's Court Judge Renee Roth," the newspaper reports.
ABAJournal.com: "Helmsley Will: Dog Gets $12 Million"
ABAJournal.com: "New Interest in Estate Planning for Pets"
ABAJournal.com: "Big Bequest Puts Wealthy Dog at Risk"