Settling the $5.4 billion estate left by Leona Helmsley had its challenges, according to
this Daily News dispatch:
The four executors who filed their request in Manhattan Surrogate's Court were two Helmsley grandsons, Walter and David Panzirer, her longtime attorney Sandor Frankel and friend John Codey. [A fifth executor was Leona's brother, now deceased.]
According to court papers, the executors quietly sold off $2 billion in government bonds, handled her interests in more than 80 properties — including the Empire State Building — and dealt with her financial stake in five corporations and 27 businesses.
In addition, they convinced a judge to trim the $12 million bequest from Helmsley to her dog Trouble to $2 million and sorted out a dicey challenge to her will by a pair of disinherited grandkids.
For completing those tasks and more, the executors request a fee of $100 million.
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2 comments:
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Seems like an uncharacteristically low fee, just under 2% of the estate's value.
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