All About Estates

Are Trusts Going to the Dogs ?

As some of you may know the late Leona Helmsley, a billionare, left her pet Maltese, Trouble, a $12 million trust fund. Her choice to leave this sum to her pet, was branded 3rd in Fortune’s “101 Dumbest Moments in Business” of 2007. In 2008 a court ruling reduced the trust fund for Trouble from $12 million to $2 million with the $10 million going to Helmsley’s charitable foundation.
For some clients who do not have sufficient resources to create a Trust fund to look after their pet when they are not able, there may be some good news.

The Ontario Veterinary Health Sciences Centre is planning to establish the Long Term Endowed Care for individuals when they can no longer care for their pets. This program would involve an irrevocable bequest with funds to provide long term care for the life of the animal as well as a remainder sum to help advance the OVC mission of training veterinarians, advanced research and providing care through the Ontario Veterinary Health Sciences Centre. For more information inquiries can be directed to Stephen Woeller, Executive Director of Advancement at the University of Guelph.

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About Paul Fensom
Scotiatrust offers a full range of estate, trust and philanthropic advisory services designed to meet a client’s personal objectives and designed to evolve across a variety of life stages and financial events. Email: