Tag: Brooke Astor

09 Oct

Verdict in Astor Estate Criminal Case

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The 85 year old son of New York socialite, Brooke Astor was convicted yesterday of grand larceny and scheming to fraud. For a background to the proceedings, click here and here.

After a 5 month trial and 12 days of jury deliberations, Anthony D. Marshall was found guilty of 14 charges, including giving himself a pay-rise of $1 million for managing his mother’s finances. He faces a mandatory sentence from 1 to 25 years behind bars. His sentencing is set for December 8, 2009.

The attorney who did the estate planning for Mrs. Astor was also convicted of forgery charges. Click here to read David Smith’s blog on the attorney’s actions.

The prosecution argued that Mrs. Astor’s Alzheimer’s was advanced so far that she could not understand the complex changes to her 2004 Will or other financial decisions that benefitted her son, such as the $1 million salary.

The defence has argued that Mrs. Astor had lucid moments despite her Alzheimer’s and that she gave her only son control of her estate out of love.

The story does not end there. Mr. Marshall may appeal and the question of what will happen to Mrs. Astor’s $180 million estate has not been resolved. A civil case was postponed pending the resolution of the criminal charges against Mr. Marshall. Some of the charitable beneficiaries of the estate sent observers to the criminal trial and it are not clear how evidence it the criminal  trial will impact the civil case.

Whichever Will is eventually probated, Mr. Marshall will receive a large portion of his late mother’s estate.

Happy Thanksgiving,

Diane Vieira

Diane  A. Vieira – Click here for more information on Diane Vieira.

26 Jun

The Estate Litigation of NYC Socialite Queen Brooke – Hull on Estate and Succession Planning Podcast #66

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Listen to "Estate Litigation and NYC Socialite Queen Brooke"

Read the transcribed version of "Estate Litigation and NYC Socialite Queen Brooke"

During Hull on Estate and Succession Planning Podcast #66, Ian and Suzana discuss the conference that Ian recently attended, Podcasters Across Borders, where he spoke on a panel with Terry Fallis of Thornley Fallis, and Kate Morgan of Podwise Social Media Inc.

Within the context of estate litigation, Ian discusses a recent article he read in the June 6th edition of The Economist that considered the life of a New York City socialite, Brooke Astor, commonly known as Queen Brooke. Ian reviews the dramatic story of her life, and the litigation surrounding her loss of capacity and her second marriage.

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