The $100 million controversy surrounding Brooke Astor’s estate has finally reached a settlement, Attorney General Eric T. Schneiderman announced today.
The lump sum will be divided among several charities, including the New York Public Library, the Metropolitan Museum of Art, and a new $30 million Brooke Astor Fund for New York City Education.
Astor’s estate had been in limbo since she died in August 2007, at the age of 105, complicated by the conviction of her son, Anthony Marshall, who was found to have stolen millions from her in the final years of her life. In today’s settlement, his inheritance was cut from $31 million to $14.5 million, the release stated. The Attorney General’s office still expects him to pay $12.3 million in restitution stemming from the criminal case against him.
Today’s settlement is based on Mrs. Astor’s 2002 will and gives no effect to two later amendments beneficial to Marshall, according to the Attorney General’s office.
Central Park, Prospect Park, New York City playgrounds, Historic Hudson Valley, the Wildlife Conservation Society, Carnegie Hall, the Brooklyn Museum, Rockefeller University, the Morgan Library & Museum, and New York University will also receive part of the funds.
“Brooke Astor was at the centre of New York philanthropy for nearly half a century,” Attorney General Schneiderman said. “Her legendary generosity and charisma touched New Yorkers of all backgrounds. I am pleased that my office led the way to an agreement that honours Mrs. Astor’s final wishes and benefits New York’s landmark educational and cultural institutions.”
Marshall remains free on bail, pending an appeal.
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