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  • Dog Inherits $12 Million From Leona Helmsley

Dog Inherits $12 Million From Leona Helmsley

Kelly Phillips ErbAugust 29, 2007December 4, 2019

There’s Trouble in New York. And he’s rich.

Trouble, the beloved Maltese belonging to Leona Helmsley, is the beneficiary of a $12 million trust fund, according to her will, which was made public Tuesday in surrogate court. Helmsley’s brother, Alvin Rosenthal, was named Trouble’s caretaker.

Helmsley’s only child, Jay Panzirer, died at the age of 42 of a heart attack. Helmsley successfully sued his estate for the repayment of borrowed funds. Jay’s wife, Mimi, and Helmsley were not on good terms after Jay’s health (Helmsley had Mimi evicted). There is speculation that Helmsley’s relationship with Mimi led to a troubled relationship with Helmsley’s grandchildren: two of the four, Craig and Meegan Panzirer, were disinherited in Helmsley’s will.

The majority of Helmsley’s estate will be sold and the money distributed to the Leona M. and Harry B. Helmsley Charitable Trust. The tax savings for the donation will easily be in the billions.

You can read the will in its entirety here.

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Kelly Phillips Erb
Kelly Phillips Erb is a tax attorney, tax writer, and podcaster.
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4 thoughts on “Dog Inherits $12 Million From Leona Helmsley”

  1. Alfredo Velazquez says:
    August 30, 2007 at 2:52 am

    After the rich dog dies, they should give the rest of the money to a Katrina fund to fix the city that was most hit by Hurricane Katrina.

    Reply
  2. Kelly says:
    August 30, 2007 at 7:32 am

    The terms of the trust are, that more or less, when any beneficiary dies before receiving his or her (or its) share, the remainder goes to the charitable trust. Unfortunately, Alfredo, the trust does not have a history of supporting New Orleans charities – it is very New York centric.

    Reply
  3. Kelly says:
    August 30, 2007 at 7:34 am

    And someone asked via email, so I’ll answer it here, that they had heard that there are requirements for the 2 grandchildren to visit their father’s grave in order to receive the money. That is true. And as to how it is to be proved, the will stipulates that a guest registry is to be kept at the site and the trustees are to look at it from year to year.
    In the trust and estates field, exercising this kind of control post-death is referred to as the “invisible hand from beyond the grave.”

    Reply
  4. aun says:
    September 9, 2007 at 8:46 pm

    da dog should by a new hot car
    the dog gona get sum bitches(lol get it)

    Reply

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