Remembering Money Masters Founder Karen Tenenbaum

January 8, 2024 — The Toy Association™ and its members mourn the recent passing of Karen Tenenbaum, founder and owner of Tenenbaum Law, P.C. and active member of the New York Metro Chapter of Women in Toys, Licensing & Entertainment (WiT). She died suddenly of a cardiac event on December 23 at the age of 64.

In addition to her success as a tax attorney for more than 35 years, Tenenbaum founded Money Masters, Inc., an organization that provides financial literacy information and tools for children and parents using an animated character she co-created, Walter the Vault. The animated character helps to promote financial literacy for children and teach kids how to make responsible and informed decisions about money. She regularly attended WiT events to connect with other inventors and entrepreneurs about the brand.

“Karen was full of energy and knowledge and welcomed any conversation with someone new or to catch up with an old friend,” said Heidi Schwartz, vice president of business development at Universal Branding & Media and co-chair of the New York Metro Chapter of WiT. “Karen loved that Women in Toys was an outlet for inventors and entrepreneurs to share their creations, make connections, and thrive off the experience and creativity of each and every member. She always brought Walter the Vault with her and was always open to introduce him and share the ‘why’ and ‘how’ surrounding the brand. Karen was simply a good person in every sense of the word and Women in Toys benefited from her involvement and friendship.”

Tenenbaum graduated from Brooklyn College in 1980 with a degree in accounting and received a law degree from Brooklyn Law School in 1983, followed by master's from New York University Law School in 1985. She founded her own firm in 1996 after working as an accountant for several large accounting firms and then as a tax attorney at two law firms. Tenenbaum Law, P.C. was named among the New York Law Journal’s Largest Women-Owned Law Firms in New York State and as a top tax firm by both the New York Law Journal and Long Island Business News.

Tenenbaum is survived by her husband Larry, daughters Allison and Stacie, and grandchildren Asher, Jordan, Remi, and Arley.

Donations may be made in Karen’s memory to Temple Beth Torah - Sanctuary Renovation Fund.