Estate of Brooke Astor settled

Posted on April 6th, 2012 No Comments

Brooke Astor’s estate has finally been settled. The philanthropist passed away in 2007 at the age of 105, and the battle over her estate has been drawing on ever since. Astor’s fortunes total around $100 million, and the controversy surrounding the distribution has been a heated one.

Her oldest son was convicted of stealing from his mother in the last years of her life when her health was declining. Due to this conviction, his inheritance was reduced by 50 percent, and he is no longer able to delegate how his mother’s money is distributed to charities.

The settlement allocates $30 million to charities, with a large majority going to the New York Public Library and the Metropolitan Museum of Art. The settlement was determined without a trial.

If you have questions regarding estate planning, please contact the Houston estate planning lawyers of Garg & Associates, P.C. by calling 281-362-2865 today.

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