No heir, apparently…

September 4, 2007

The white Maltese dog that Leona Helmsley loved so much ($12 million much) might become a stray.

The Associated Press reports today that Helmsley’s brother and the appointed caretaker, Alvin Rosenthal, 80 (who inherited $15 million of his own) is not interested in becoming a pet owner.

Now it’s up to Leona’s second choice—her grandson, David Panzirer. No word so far on whether he is a friend to the animals.

And the hits just keep coming.

You may remember from our original post that Helmsley requested the dog be interred with her at the family mausoleum once the pup goes to the great beyond.

Tough break: the cemetery says state law forbids animal remains to be buried in human graveyards (but don’t all dogs go to heaven?).

You’d think Leona’s estate lawyer would have checked that one out…

Attorneys, we beseech you: what advice would you give your clients to avoid these estate-planning disasters?

-JACKIE SAUTER, Multimedia Editor
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Heir of the Dog?

August 29, 2007

Two of Leona Helmsley’s grandchildren will inherit $5M each now that the Queen of Mean has passed into the other realm, but the true winner in her death is Trouble, a white Maltese toy dog.

The dog was bequeathed $12M (or between $1M and $2M per pound – you should pardon the expression). No word on whether this is multiplied by 7 when converted to canine currency.

The downside: the fluffy heir’s own remains must be interred alongside Leona in the Helmsley mausoleum once the 8-year-old Trouble kicks it (likely around age 14). Tough break, Fido.

Leona’s other two grandchildren from her son Jay will inherit nothing, “for reasons that are known to them,” she wrote in her will.

Putting aside the preposterous directives, here’s my serious question:

Leona famously snarled “only the little people pay taxes” when she was convicted of tax evasion two decades ago. Unfortunately for Leona, the federal government does impose an estate tax on U.S. citizens and residents.

You have to wonder: does an estate tax apply to a Maltese? And if so, who has to pony up for the pooch and file Trouble’s taxes?

And then, yes, there’s the heir-of-the-dog problem: once Trouble’s gone to that great boneyard in the sky, who gets the leftovers?

Any estate attorneys out there had to arrange for assets left to a pet? (Subscriber-only link.)

-JACKIE SAUTER, Multimedia Editor

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Posted by The Daily Record | Filed Under estate planning, law, pets, taxes | Leave a Comment 

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