She Had It All … And It Slipped Right Through Her Dainty Paws.
The late Leona Helmsley was known as “The Queen of Mean,” but you gotta hand it to her, she loved her animals. Helmsley was particularly devoted to her pampered Maltese, Trouble—to the tune of a $12 million inheritance! We’re sure that Trouble is a high-maintenance little lady, but still, a lot of people wondered: what on earth can one wee dog spend that much money on?
A Manhattan judge agrees, and in a recent ruling reduced nine-year-old Trouble’s trust fund down to $2 million—with the full blessing of her caretaker, Carl Lekic, the general manager of one of Helmsley’s Florida hotels. The extra $10 million will go into the multibillion-dollar Helmsley Foundation for charitable distribution.
“This was the first time so large an amount was left to a pet—and this latest ruling may not have been what Leona wanted, but there's no doubt in my mind that public comment had something to do with the reduction by the court of Trouble’s bequest,” says Kim Bressant Kibwe, ASPCA Trusts & Estates Counsel. “I think pet trusts are going to become more common, and they should be. A court will uphold a bequest that it deems to be reasonable, but it is up to the pet owner to obtain competent counsel who can draft instructions for care according to their wishes in such a way that won't raise questions by the court.”
As Lekic told the New York Post when the story broke, “Two million dollars … would be enough money to pay for Trouble's maintenance and welfare at the highest standards of care for more than 10 years, which is more than twice her reasonably anticipated life expectancy.”
P.S. Want to know more about creating a trust fund for your little princess? Read the pet planning information on our website.
A Manhattan judge agrees, and in a recent ruling reduced nine-year-old Trouble’s trust fund down to $2 million—with the full blessing of her caretaker, Carl Lekic, the general manager of one of Helmsley’s Florida hotels. The extra $10 million will go into the multibillion-dollar Helmsley Foundation for charitable distribution.
“This was the first time so large an amount was left to a pet—and this latest ruling may not have been what Leona wanted, but there's no doubt in my mind that public comment had something to do with the reduction by the court of Trouble’s bequest,” says Kim Bressant Kibwe, ASPCA Trusts & Estates Counsel. “I think pet trusts are going to become more common, and they should be. A court will uphold a bequest that it deems to be reasonable, but it is up to the pet owner to obtain competent counsel who can draft instructions for care according to their wishes in such a way that won't raise questions by the court.”
As Lekic told the New York Post when the story broke, “Two million dollars … would be enough money to pay for Trouble's maintenance and welfare at the highest standards of care for more than 10 years, which is more than twice her reasonably anticipated life expectancy.”
P.S. Want to know more about creating a trust fund for your little princess? Read the pet planning information on our website.
Labels: News
posted by ASPCA at 10:15 AM PERMALINK
2 Comments:
i'm just glad that the dog is properly being taken cared of even after her owner's passing. that dog won't want for anything for the rest of her life.
The court ruling is UNacceptable! Trouble should still have received $12M ... it was Leona's intention that Trouble would receive that amount. I agree with the original poster...I'm sure the court had pressure to reduce that amount. But making that decision will now create a presedence in situation like this.
Jay from Ohio
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