Does the money go to whoever is in guardianship of the dog? Can it only be used for whatever expenses the dog may incur (food, grooming, etc)?
(You R&S people are a smart bunch [sometimes], and more likely to respond, that's why I'm asking it here.)
2007-09-07 05:55:46 · 16 answers · asked by Anonymous in Society & Culture ➔ Religion & Spirituality
the money goes to the person who watches after the dog since the dog is not eligible, and the money can be used only for dog and/or expenses for the house (if any)
the person who watches after the dog can in no way use the money for themselves if it isn't stated differently in the will
2007-09-07 06:04:28 · answer #1 · answered by Anonymous · 2⤊ 0⤋
It goes to the caretaker essentially,as far as I know. Funny thing is I understand that the guy Leona made the caretaker of her dog hates the mutt,and plans to hire others to care for it. At least that's what I heard,that the dog is an absolute terror and he wants nothing to do with it. The money is in a trust though,so perhaps once Trouble dies he can't get money from it anymore,so perhaps it's just for care of the dog. Which only goes to show what a complete nut Leona really was,I mean she left more to her dog than to her grandchildren.
AD
2007-09-07 13:06:42 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Trust funds who are left for people or entities that are unable to take charge of them (Groups, Minors, pets etc.) are given into the power of what's called an Executor of the Trust. This person is given a certain amount of discrectionary power (in terms that are outlined in the will or the contract establishing the Trust) as to how the money and assets contained in the Trust are to be spent and utilized. This person, who must be of legal age and mentally competent to enter into the agreement, then can spend the money in ways outlined in the Will. So in the case of miss Helmsley (may she rot in hell), the money is given into a Trust, which acts as a sort of Corporation, with the Executor (usually the only Trustee [like a board member for this example] but not always) is in charge of executing the will (Keeping the dog "happy").
Basically, she gives the money to someone to take care of her dog, and it can only be used for this purpose (untill the dog dies, then depending on the contract, the remaining money is spent as per the dictants Will or defaults to the Executor).
2007-09-07 13:06:01 · answer #3 · answered by Anonymous · 6⤊ 0⤋
One of the do-nots of wills is to leave anything to an animal, it can't be executed. However, Leona had an array of powerful lawyers, and I'm sure the trust got set up in a durable way.
I think she's a vindictive ***** though, for cutting grandchildren out of her will while leaving a $12 million trust for a damn dog.
2007-09-07 13:02:13 · answer #4 · answered by Anonymous · 5⤊ 0⤋
I am a Wills and Probate attorney. Generally, when a "pet trust" is formed, the Trustee will invest the money, follow the instructions for the provision of care for the pet (during the pet's lifetime) and the further provisions for disposition of the remainder upon the death of the pet. (It is pretty much the same for children.)
P.S. You should hear how children and grandchildren treat their parents and grandparents. Not much "honoring thy mother and father" going on.
2007-09-07 13:04:15 · answer #5 · answered by Anonymous · 3⤊ 0⤋
The money goes to whatever the trust fund dictates. That's why the trust was set up in the first place.
2007-09-07 13:03:26 · answer #6 · answered by Anonymous · 2⤊ 0⤋
Leona Helmsley's dog gets 12 million dollars, and Michael Vick has to pay back 22 million dollars. Basically, it means God has a sense of humor.
2007-09-07 13:02:36 · answer #7 · answered by Tut Uncommon 7 · 6⤊ 0⤋
It has to go towards the dog, and there's no guarantee that the dog will actually get it, but the guardian of the dog might wastefully expend it. You would have to be careful on who you entrust to receive the trust.
2007-09-07 13:00:28 · answer #8 · answered by Cold Fart 6 · 4⤊ 0⤋
It's supposed to be used towards the dog (if specified as such in the will)
but theres ways around that.
I'm glad that it went to the dog and not to a stupid cause...like curing AIDS. They have enough money.
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I'm the only person to get a thumbs down! I rawk chalk like a jayhawk.
2007-09-07 13:02:24 · answer #9 · answered by Southpaw 7 · 4⤊ 1⤋
You'd have to read the document that created the trust so you could determine its provisions.
A trust can contain any provisions that are not illegal, so Mrs. Helmsley could make any provisions she wanted. We'll never know.
2007-09-07 13:07:19 · answer #10 · answered by Bob W 5 · 1⤊ 0⤋