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July 03, 2008

Helmsley Money To Go To The Dogs: Or Will It?

According to the New York Times, Leona Helmsley's estate will go to the dogs -- or at least a big wad of it could. 

Actually there's a lot of speculation as to what Ms. Helmsley intended but it's possible that $5 to $8 billion, the value of her estate, will indeed be spent for the "care and welfare of dogs".  That's definitely a lot of dog food.

But the real question appears to be: what did Ms. Helmsley actually want done with her estate?  In America, is not donor intent sacred and literally, the final word?  Anyway, there's certainly room for opinion about what the intent is or was and this will all be flushed out in the probate process. 

Does make you wonder what the purpose of a will is if it can be discussed, for quite some time, in the courts.  Will the dogs be ok in the meantime?

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