Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, January 22, 2016

Battle over $100 Million Executor Fee Billed To Estate Of Leona Helmsley

HelmslayThere is currently a legal battle brewing over a $100 million fee submitted by the executors overseeing the estate of the late hotel magnate Leona Helmsley. Lawyers for New York Attorney General Eric Schneiderman have argued that the $100 million fee is “exorbitant, unreasonable and improper,” and they say that a fee of $10 million would be more reasonable for the work that was done. Helmsley was known as the “Queen of Mean” and became famous when her Will left $12 million to her dog Trouble (who eventually sadly only got $2 million). The bulk of the hotel magnates $4.8 billion estate was left to charity. The executors, who “are two grandchildren, an attorney and a business adviser” have defended the large fee by saying that they administered an “extraordinarily complex estate…in the face of enormous risks.”

See Battle brews over $100M fee billed to ‘Queen of Mean’ NYC estate, Fox News, January 22, 2016.


Estate Administration, Estate Planning - Generally, Professional Responsibility, Wills | Permalink


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