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Madoff in Chronicle of Philanthropy on Helmsley Trust

3/19/09--The trustees of the Leona M. and Harry B. Helmsley Charitable Trust do not have to limit the distribution of their grants to charities focused on the care and welfare of dogs, a New York judge ruled last month.

3/19/09--The trustees of the Leona M. and Harry B. Helmsley Charitable Trust do not have to limit the distribution of their grants to charities focused on the care and welfare of dogs, a New York judge ruled last month. BC Law Prof. Ray Madoff tells the Chronicle of Philanthropy that if Ms. Helmsley intended for all of the money to go to animal charities, she should not have provided such wide discretion to the trustees. "Given that she gave that broad discretion, they have very broad powers," she said.

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