Recent news reports indicate that a New York court has ruled that the trustees of the Leona Helmsley trust have sole authority to distribute trust assets. $1 million will go to dog related charities, the remaining $135 million to hospitals and medical research.
This article illustrates that courts can, and do, get involved with trusts. Often times clients want a trust, saying they want to keep the courts out of their business. Unfortunately, that is not always the case.
Wednesday, April 22, 2009
Trustees Get to Decide Helmsely Trust Distribution
Melinda Gustafson Gervasi is a Madison attorney and author whose current practice focuses on estate planning and probate. She is committed to increasing the public’s understanding of estate planning and probate issues. In 2013 she released her first book, Middle Class Philanthropist where she illustrates how anyone can leave a legacy. Gustafson Gervasi Law Office, LLC, 5555 Odana Rd., Suite 205, Madison, WI 53719
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