From The Real Deal: The executors charged with handling Leona Helmsley’s billion dollar estate say the New York State Attorney General’s Office is shortchanging them to the tune of $90 million.
Four men — including two of Helmsley’s grandsons — have been managing the late hotel heiress’ estate since she died in 2007. In new court papers, they claim the $10 million fee they are being paid for their services is “unreasonable” and “manifestly unfair,” the New York Post reported.
Helmsely, known as the “Queen of Mean” because of the way she treated her staff, left most of her $5.4 billion estate to charities funding health care, education and conservation. She also left $12 million to her dog, Trouble, a figure that was eventually reduced to $2 million. Trouble died in 2011. Among other assets, the executors have been responsible for managing more than 80 real estate holdings and $2 billion in municipal bonds. [more]