12 Million Dollar Dog in Trouble
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A while back we wrote about the passing of infamous billionaire Leona Helmsley, the New York City hotel queen and real estate investor who left $12 million to a Maltese, her beloved pet dog (the dog received a larger bequest than her grandchildren who received only $5 million each). The bulk of the estate was left to a charitable trust (to read that article click here). Of interest today is that a legal suit has been filed by the ASPCA, the HSUS and Maddie’s Fund to overturn an earlier ruling that allows the Helmsley Trustees (they’re responsible for issuing charitable grants from the estate), to disregard Mrs. Helmsley’s specific instructions that her wealth be used to help dogs.
According to the Petitioners, Helmsley wanted her worldly estate to make our society better for dogs and animals and if the money were distributed as intended, it would definitely have the power to do so.
The groups involved in the lawsuit point out that the court system has a responsibility to protect the wishes of the deceased, and also to protect the charity world from the whims of trustees who wish to ignore estate planning instructions. This case should be of interest to anyone who plans to provide for their pets after death, not to mention the organizations (from nonprofits to universities) that rely on bequests.
Please note that the groups involved in the lawsuit are not seeking grants for themselves, but do hope to work with the Helmsley Trustees in an advisory capacity to award grants to animal welfare groups of various size and scope around the country. "There has been a sea change in recent years in how we treat animals. It’s a shame that the Helmsley Trustees don’t understand or respect that change," says Ed Sayres, Pres/Ceo of the ASPCA.
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