Monday, June 16, 2008
Trouble for Trouble?
A New York Surrogate's Court has approved a reduction in the trust fund Leona Helmsley left for Trouble, her reportedly evil-tempered dog. Trouble's inheritance drops from $12 million to $2 million. In addition, the New York Post reports, two grandchildren disinherited by Leona will receive a total of $6 million.
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1 comment:
I wonder how that trust will be invested? The articles states that Trouble's expenses come to $190,000 per year, so they need a nearly 10% return to avoid dipping into principal. On the other hand, the dog's life expectancy is apparently only five years, so there is little chance that the trust will be exhausted.
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