Leona Helmsley Update

You may remember that earlier on this blog I discussed the  Last Will and Testament of Leona M. Helmsley in which Leona left her dog, Trouble, to her brother (Alvin).  She also left $12 million to the Leona Helmsley July 2005 Trust.  This is a “pet trust” for Trouble’s care.  The exact terms of this trust are unknown because the trust was create inter vivos (while Leona was alive) and is not required to be placed on the public record.  “Mission statements” indicating her non-binding directions to the trustees explain her strong intent to provide for dogs.

On April 30, 2008, Manhattan Surrogate Judge Renee Roth reduced amount in the pet trust to $2 million with the $10 million balance passing to Leona’s charitable foundation.  As far as I can determine from reports, the foundation is not yet awarding grants.

For a detailed discussion of this situation with extensive background information, see Jeffrey Toobin, Rich Bitch — The legal battle over trust funds for pets, New Yorker, Sept. 29, 2008.

Special thanks to Adam Hirsch (William and Catherine VanDercreek Professor of Law, Florida State University) for bringing this article to my attention.