The Destructive Power of Family Wealth. Marcovici Philip
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Would Brooke Astor have been able to reduce the risk of wealth destroying her family by letting her son know, early on in his life, that she would not be giving him much, her desire being to benefit charities with the bulk of her assets? Would Tony Marshall have been encouraged to build his own career rather than be so focused on his possible inheritance? Would the expectations of Tony's third wife, disliked by Brooke Astor and by most of the press covering the story, have been different had Astor been much clearer early on as to what Tony would get and when?
Brooke Astor remembered her daughter-in-law in her will, leaving her two used, size six mink coats, knowing very well that Charlene Marshall could never fit into them.
At what age should children of wealthy parents receive a good chunk of what they may ultimately get? With the death of Brooke Astor at the age of 105, Tony Marshall was 83 by the time he was able to inherit. Stealing from his mother was wrong, but under the unfortunate circumstances of the family, perhaps not that much of a surprise.
And were all of the lawyers and other advisors meant to be looking after Brooke Astor's interests really doing so, or were they listening to their future client, Tony Marshall, rather than focusing on the interests of his aging mother? Was Brooke Astor right to trust them? Perhaps Charlene, Tony's wife, was a gold-digger. How can we identify and deal with “gold-digging” sons or daughters-in-law?
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