Leona Helmsly, the widow of a billionaire real estate mogul, recently passed away and her will was just made public. The results: Her dog gets $12 million dollars, while two of her four grandkids get nothing. I don’t have a problem with her not leaving money to her grandkids, that is between her and them. (She left a note stating they would get nothing for “reasons that are known to them.”). Her other grandchildren receive $5 million, provided they meet certain conditions.
But seriously, why does a dog need $12 million? I understand you want the dog to be well taken care of, but $12 million is a little ridiculous. The $12 million goes into a trust which will be run by her brother, and there is no word on what will happen to the money when her dog passes. I’m assuming they won’t use the entire $12 million for doggy chow and gilded food bowls.
On a side note, she directed that her estate liquidate much of her properties and assets, reportedly worth billions, and that the money be given to the Leona M. and Harry B. Helmsley Charitable Trust. It’s good to hear that her money will be going to a good cause.
But $12 million for a dog!?! Why? The only thing I can think of is perhaps there is some kind of favorable tax advantage to placing the money in a trust. But I have no idea. $12 million for dog care just seems a little over the top to me.
Source: CNN News (story no longer available).