Settlement Finally Reached for Estate of Prominent Elder, Brooke Astor

The story of Brooke Astor is perhaps one of the more amazing stories of financial elder abuse. Brooke Astor.jpgMs. Astor, a prominent figures in the New York social scene, was known for her wealth, style and philanthropy. Initially revealed in 2006, Brooke Astor’s only child, Anthony (“Tony”) Marshall was indicted on criminal charges that included grand larceny, possession of stolen property, forgery and conspiracy.

Convicted in 2009 on charges such as grand larceny and falsifying business reports, Marshall had abused his power of attorney to his mother’s estate by selling it and forging her signature in the third codicil of his will with Astor’s former lawyer, Francis X. Morrissey. Their amendment would have left the entire estate to Marshall. This directly contradicted Ms. Astor’s previously articulated intent and desire to give a large portion of her estate to charity.

Last Wednesday, a settlement was finally reached that would cut Tony Marshall’s share to $14.5 million. $12.3 million will be paid out of the estate to the Manhattan D.A.’s office for the prosecution of Mr. Marshall.

Of the proceeds, some $20 million will go to the Metropoliation Museum of Art. $15 million will go to the New York Public Library. A $30 million fund will also be established to improve education in New York.

About Kevin
Kevin Coluccio was recently named one of the Top 10 Super Lawyers in Washington State. He has long history of successful elder abuse/neglect cases and has a stellar reputation for getting results for his injury clients in serious car crashes, pedestrian accidents, trucking accidents, maritime claims, and asbestos injury cases.