Should the foundation now honor Helmselys wishes or make grants for purposes it deems appropriate?
By Marc D. Hoffman When New York real estate magnate Leona Helmsley died in 2007, she made it clear the majority of her estimated $5 billion estate was to be used for the care and support of dogs. So said a mission statement Helmsley signed in 2004 for her foundation, revoking a 2003 statement that also included “medical and health-care services for indigent people, with emphasis on providing care to children.” Helmsley’s beloved Maltese, “Trouble”, who shared her latter years no doubt played a role in her decision. Although Mrs. Helmsley’s intent seemed clear, New York Surrogate’s Court Judge Troy K. Webber found last month the Leona M. and Harry B. Helmsley Charitable Trust instrument does not require the trustees to follow any mission statement; rather, it grants the trustees “sole discretion” regarding the destination of the foundation’s grants. And now, according to a news release from the foundation, it plans to commence making grants this month to health care, medical research,
Related Questions
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