Posted on 16-06-2008
Filed Under (Financial) by mike

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Leona Helmsley died in August 2007 at 87 but her legacy lives on. Leona Helmsley left a large fortune behind and$12 million of it was for her pet dog, Trouble.

Trouble has brewed to discontent after Leona Helmsley disinherited 2 grandchildren, who then sued her estate.

A New York judge has reduced Trouble’s fortune from 12 to 2 million, awarded $6 million to the children, and $10 million to Leona Helmsley’s billion dollar charitable foundation.

No need to feel sorry for Trouble. Even though the will was contested and the beneficiaries awards have been redistributed, the estate trustees say there is plenty left for taking care of the dog. It gets $2million in an inheritance trust account that will be more than enough to pay for its $190,000 assisted living expenses per year.

Now I know assisted living can cost a lot and one of the main estate planning tasks is to allocate enough of your estate to pay for elder care, but that much for dog food and grooming seems a little excessive.

Maybe the dog’s caretaker has a little of Leona Helmsley in him.

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Comments

bloggingzoom.com on 16 June, 2008 at 2:18 pm #

Leona Helmsley Trouble…

The Queen of Mean, Leona Helmsley, may have got her way in life, but in death a judge has countermanded her instructions and changed around her will so that her pet maltese dog loses a little to the rest of the family.
Planning your affairs for old age…


Eric Hundin on 16 June, 2008 at 2:32 pm #

I found your blog on MSN Search. Nice writing. I will check back to read more.

Eric Hundin


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