Trusts & Estates
Big Bequest Puts Wealthy Dog at Risk
Posted Dec 4, 2007, 10:36 am CST
By Martha Neil
A massive $12 million trust established by hotel heiress Leona Helmsley under her will to take care of her beloved dog, Trouble, has created problems for the well-to-do canine after Helmsley's death earlier this year.
Kidnappers and blackmailers reportedly have threatened the 4½ pound Maltese after news of her big bequest, and she has been flown to an undisclosed location in Florida by private jet under an assumed name, reports the London Times.
As discussed in earlier ABAJournal.com posts, Helmsley cut out two of her four grandchildren, but put $12 million of her $4 billion estate in trust for Trouble, who was the biggest individual beneficiary. The much-publicized gift has generated new interest in estate planning for pets.
After a recent television appearance by Trouble, "viewers called the network to ask if their dogs could mate with her so that their puppies could inherit her fortune," the British newspaper notes. "Mrs. Helmsley’s will, however, dictates that any money left when Trouble dies goes to charity."