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View Full Version : Leona Helmsley's Dog Loses $10 Million of Trust Fund



bijou
06-16-2008, 02:01 PM
Leona Helmsley's beloved pooch, Trouble, will have to live the high life on a lot less.

The Maltese, 9, lost $10 million of her $12 million trust fund to charity after a judge signed off on a deal that gives the late billionaire's disinherited grandchildren a piece of the Helmsley fortune, the New York Post reports.

The deal, approved by the New York State Attorney General's Office and Surrogate's Court Judge Renee Roth, reduces Trouble's trust fund to $2 million, placing the rest of the money into Helmsley's multibillion-dollar charitable foundation, the paper said.

... Trouble is living in Florida with Carl Lekic, the general manager of the Helmsley Sandcastle Hotel, the paper said. The dog's annual expenses are around $190,000, he said.



Florida, who'd have thought it? :D

canine penury (http://www.foxnews.com/story/0,2933,367257,00.html)

Gingersnap
06-16-2008, 03:08 PM
The greedy grandchildren worked out a deal with the estate when they challenged the mental competence of Helmsley to create her own will in 2005.

What's the point of making a will if it can be challenged just like that?

linda22003
06-16-2008, 03:26 PM
What's the point of making a will if it can be challenged just like that?

It can be easily challenged if you do a damfool thing like leaving it all to a DOG.

bijou
06-16-2008, 04:05 PM
The greedy grandchildren worked out a deal with the estate when they challenged the mental competence of Helmsley to create her own will in 2005.

What's the point of making a will if it can be challenged just like that?

The dog should have fought them, it's not as if it needed the money. If you can't disinherit your lazy, grasping relatives there isnt much scope to write a will reflecting your wishes.

jinxmchue
06-16-2008, 08:47 PM
The dog's annual expenses are around $190,000

Oh, bullshit. Some person - possibly more than one - is pocketing a lot of that.

Jumpy
06-16-2008, 09:45 PM
It can be easily challenged if you do a damfool thing like leaving it all to a DOG.

Yep! She couldve left it to all sorts of charities.. animal charities, with outrageous amounts going to her dog.

The woman was off her rocker..

lacarnut
06-16-2008, 10:08 PM
Don't know what all the fuss is about; it's not like the dog is going to miss 10 of that 12 million dollars. wuff, wuff. 2 mill. will provide her with the high life for the rest of her years. :)

SarasotaRepub
06-16-2008, 10:22 PM
... Trouble is living in Florida with Carl Lekic, the general manager of the Helmsley Sandcastle Hotel, the paper said. The dog's annual expenses are around $190,000, he said.

DAMN!! SLW and I PLUS the 3 greyhouds could live damn good on 190,000K a year!!!:eek::D

SaintLouieWoman
06-16-2008, 11:38 PM
DAMN!! SLW and I PLUS the 3 greyhouds could live damn good on 190,000K a year!!!:eek::D

Maybe that manager could send the pup to us. I'm sure it could live like royalty here for a lot less. :D

Even if the judge overturned the dollar amount of her bequest, there was no call to turn the money to those who were specifically excluded. The money should have been turned over to charity.

BTW, I'm sure the $12 million wasn't her entire estate. They talked about her "foundation". I'm sure most of the money went there.

Sonnabend
06-17-2008, 08:36 AM
Well...the dog can sing classical music and use a computer..I guess the judge decided that its Bach was worse than its byte :D:D

talleyJudy
06-17-2008, 08:52 AM
If she had prepared her will 'properly' (just a little online homework, or consulted with a lawyer), she would have specifically named each grandchild and why she did not want to leave them anything - and that will would have been "air tight"/not able to be challenged by the grandchildren.

Here is a very interesting resource for all of us pet folk who are a bit "long in the tooth":

"Perpetual care" PerPETual care : who will look after your pets if you're not around? / by Lisa Rogak.
Author: Rogak, Lisa, 1962-
Series:
Edition: 1st ed.
Publication: c2003.
Length: xvii, 169 p. :

Available at the River Falls, WI, Public Library through InterLibrary Loan or through Amazon.

SaintLouieWoman
06-17-2008, 11:17 AM
If she had prepared her will 'properly' (just a little online homework, or consulted with a lawyer), she would have specifically named each grandchild and why she did not want to leave them anything - and that will would have been "air tight"/not able to be challenged by the grandchildren.

Here is a very interesting resource for all of us pet folk who are a bit "long in the tooth":

"Perpetual care" PerPETual care : who will look after your pets if you're not around? / by Lisa Rogak.
Author: Rogak, Lisa, 1962-
Series:
Edition: 1st ed.
Publication: c2003.
Length: xvii, 169 p. :

Available at the River Falls, WI, Public Library through InterLibrary Loan or through Amazon.
There are a number of publications also available----it's a whole new field, estate planning for pets. I've read some, where there's always a big warning about how tenuous the laws are for pets. It's a whole new field with many minefields.

It's tough finding a lawyer knowledgable enough to properly draw the will so the intent isn't overturned. There are too many maverick judges out there.

It is a good idea to cover in a will who will take care of pets. Every parent, in my opinion, should put in writing who should be appointed guardians for their children in case of catastrophe. It should also be done for beloved pets.

Care would need to be taken in the "guardianship" of pets if a sizable amount is involved. It would be way too easy for someone taking care of the pets to euthanize them so the remaining funds could be then assumed. Probably the same person shouldn't be both guardian and recipient of the funds, unless other provisions are stipulated as a safeguard.

noonwitch
06-17-2008, 01:25 PM
She should have left each of the grandchildren $1-that way it is specific.

My dad had it written in his will that anyone who challenges it after his death will receive exactly $1. It's more difficult to challenge if there is a recognized dollar amount to the person who you want to effectively disinherit.

lacarnut
06-17-2008, 01:32 PM
Maybe that manager could send the pup to us. I'm sure it could live like royalty here for a lot less. :D

Even if the judge overturned the dollar amount of her bequest, there was no call to turn the money to those who were specifically excluded. The money should have been turned over to charity.

BTW, I'm sure the $12 million wasn't her entire estate. They talked about her "foundation". I'm sure most of the money went there.

I do not have a pup and since I am retired I could give her extra special one on one care for $190,000 per year. We could walk along a private beach every day in the warm sun in Florida and have much fun.