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When Brooke Astor died at the age of 105, she left behind a $100 Million fortune that has since been the center of a bitter battle plaguing the NY court system. The case, an estate planning nightmare, underscores the corruption that can take place in the absence of a solid estate plan and, of course, trustworthy advisors and caretakers.
In a nutshell, Brooke Astor’s only son had his inheritance cut in half and had his control of the estate’s powerful charitable contributions revoked as part of a settlement that ended the five-year dispute over the family’s millions.
The story is fascinating and worth the read. Here is the link to the NY Times coverage of the case: “Settlement in Battle Over Astor Estate is Reached”