Grave Robbing Affects More than Astor-nomical Estates

May 4th, 2009 by imdgonz
astor1

Mrs. Astor - Photo via New York Times

In the ongoing saga of the Astors, we see the behind-the-scenes of generational money conflict. This is one of the strangest and high profile cases where key witnesses include the Domestic Staff to the family. This particular article laments the effect of personal greed on the philanthropy legacy that should have been left by the late Mrs. Astor.

Perhaps the saddest part of this story is the opportunities lost. From major recipients like the New York Public Library and the Metropolitan Museum of Art to countless other non-profits, numerous organizations benefitted from the philanthropic activities of Brooke Astor and some were designated to receive additional funds upon her death. Marshall instead is alleged to have orchestrated having a questionably competent Brooke sign a codicil to her will in which he personally replaced the charities as his mother´s ultimate beneficiary. Through The Vincent Astor Foundation, decades of funding was provided to schools and educational entities along with a host of other New York-based organizations. Benevolence at the Astor level has far reaching effects regardless of recipients´ nature or function. The existence of well-funded, stable non-profits can create jobs and other economic activity stimulating indefinite and immeasurable benefit to the communities served. The actions of Anthony Marshall and Francis X. Morissey thwarted the opportunity which Astor assets were designated to provide.

via American Chronicle | Grave Robbing Affects More than Astor-nomical Estates.

Posted in Giving Back - Philanthropy, The World of Wealth

One Response

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