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Brooke Astor, a famed New York socialite and philanthropist, gave away nearly $195 million from the Astor Foundation to various charities in her lifetime. She passed away Monday at the age of 105 after months of declining health and dementia. There is already a dispute among her offspring over the terms of her will.
Allegations of Son Mistreating Astor
Astor's personal fortune is valued at about $130 million, and there is a trust reportedly worth $60 million. She had one son, Anthony Marshall, who with his wife Charlene was the original executor of his mother's estate. The Marshalls relinquished that role in October 2006 after a flurry of allegations that Anthony Marshall was mistreating the aged Ms. Astor in her last years, letting her live in squalid conditions without proper medical care or the company of her beloved pets. The allegations were from Marshall's son Phillip.
Phillip Marshall asked the court to remove his father from his grandmother's affairs, contending that his father was looting her fortune while he mistreated her in a variety of ways. Further examination revealed amendments made to Astor's 2002 will that may have included a forgery of her signature. One amendment moved millions of dollars from some of Astor's favored causes (such as the New York Zoological Society and the Metropolitan Museum of Art) to her son's charitable trust, named the Anthony Marshall Fund.
Criminal Investigation
A criminal investigation by the Manhattan District Attorney was then initiated and continues today. Under a separate settlement regarding Brooke Astor's guardianship after she was diagnosed with dementia, Anthony and Charlene Marshall gave up their positions as co-executors, and Astor's longtime friend Annette de la Renta was appointed as her guardian. The court appointed JP Morgan Chase Bank as guardian of Astor's assets.
Anthony Marshall, a Broadway producer and former diplomat, has denied all allegations of mistreating his mother, and under the terms of the guardianship agreement, he admitted no wrongdoing.
A Well-Loved Lady
Brooke Astor was born into affluence and high society, but it was her third husband Vincent Astor who brought her into the massive fortune his grandfather John Jacob Astor had made in fur trading and real estate. When Vincent Astor died, he left about $60 million to his wife and an equal amount to a foundation for her to administer. She was deeply involved in giving the money to many New York charities and causes, and was well loved as a gracious and kind lady who did not consider herself above ordinary people.
Although the Astor Foundation was not large compared to huge organizations such as the Rockefeller or Ford foundations, Ms. Astor's foundation's contributions were often followed by other foundations' giving, because it was known that if Brooke Astor had given her 'seal of approval' to a cause, it was surely worthy of support.
(Source: Associated Press, New York Times)
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