• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
FinanceBillionaires

Billionaire Grandma’s Heirs Should Only Collect $600/Hour, Attorney General Says

By
Jen Wieczner
Jen Wieczner
Down Arrow Button Icon
By
Jen Wieczner
Jen Wieczner
Down Arrow Button Icon
January 25, 2016, 10:26 AM ET
Leona Helmsley Sued By Former Employee
NEW YORK - JANUARY 23: Real estate mogul Leona Helmsley is aided by her body guards as she arrives to court January 23, 2003 in New York City. Helmsley is being sued by a former employee, Charles Bell, who alleges that she fired him for being gay. (Photo by Keith Bedford/Getty Images)Photograph by Keith Bedford — Getty Images

Even when your grandma was a billionaire, it can’t be that difficult to execute her will and testament, the New York attorney general told the family of deceased real estate tycoon Leona Helmsley.

Since Helmsley died in 2007 leaving behind nearly $4.8 billion in assets, the four executors of her estate, including two of her grandchildren, had sought $100 million of that fortune to cover their costs of dealing with her many bequests. Her estate owned more than 80 real estate properties, including the Empire State Building and Walmart (WMT) stores, which the executors have been managing or selling off, The Wall Street Journal reported.

Still, the fee the executors requested was “astronomical” and “exorbitant,” equaling a salary of $6,000 per hour they worked on the estate, the state attorney general’s office wrote in a court filing, according to the Journal. The attorney general suggested that the payment be reduced to less than $10 million total, or $628 per hour, noting that the money the executors seek would otherwise be donated to charity.

It’s not the first time that Helmsley’s will has raised eyebrows: She had bequeathed $12 million to her dog Trouble, though a judge later cut the pet’s sum. The two grandchildren who are also estate executors each received $10 million, according to the Journal. In the 1990s, Helmsley served 18 months in jail for tax evasion.

For their part, the executors of the estate said they deserved the full $100 million because they worked hard to preserve the value of the estate even during the recession, such as by minimizing property taxes.

About the Author
By Jen Wieczner
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Mel Robbins
SuccessGen Z
Millionaire podcaster Mel Robbins hits back at Gen Z’s lazy label—she says they’re stuck in a world their baby boomer parents wouldn’t even recognize
By Emma BurleighMay 23, 2026
16 minutes ago
employees
CommentarySuccession
Millions of business owners are about to retire. They should sell to their employees
By Matt Helmer and Maxwell JohnsonMay 23, 2026
2 hours ago
Kevin Warsh, chairman of the US Federal Reserve nominee for US President Donald Trump, is sworn in during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on April 21, 2026 in Washington, DC.
EconomyKevin Warsh
‘I almost fell out of my chair’: Fed stalwart Claudia Sahm fears Kevin Warsh’s policies could undo 20 years of policy progress
By Eleanor PringleMay 23, 2026
3 hours ago
A construction worker wearing a yellow helmet wipes his nose with his hand.
North AmericaImmigration
America is suffering a shortage of construction workers and sabotaging its ability to fill vacancies by wiping out the industry’s immigrant backbone
By Sasha RogelbergMay 23, 2026
3 hours ago
ambrose
CommentaryRobotics
Former NASA Robotics Chief: America is building the wrong kind of robots — and China knows it
By Robert AmbroseMay 23, 2026
5 hours ago
Elon Musk’s SpaceX IPO filing just told us what business he’s betting on for the future—and it’s not rockets
InvestingFinance
Elon Musk’s SpaceX IPO filing just told us what business he’s betting on for the future—and it’s not rockets
By Shawn TullyMay 23, 2026
6 hours ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
2 days ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
22 hours ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
3 days ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
21 hours ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
4 days ago
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Success
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
By Preston ForeMay 22, 2026
23 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.