Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, September 21, 2012

Brooke Astor's Bank Account Resurfaces

Brooke AstorAs I have previously discussed, Brooke Astor's estate is no stranger to controversy or legal battles. Recently, someone discovered that Brooke Astor's estate has two abandoned accounts at Citibank. It appears as if both of the accounts "were addressed to the attention of her son, Anthony D. Marshall." A bank, such as Citibank, is required to advertise accounts that have more than $50 within the account. Based upon the person in this case, even her grandson does not believe that there is only $50 in the account. If no one claims the money within the account, then the money goes ot the state comptroller's office, where the state comptroller attempts to locate the owner. When the amount of money in the accounts is determined, it will be divided according to the settlement agreement that was agreed upon in March of this year.

See Russ Buettner, Abandoned Bank Accounts of Brooke Astor's Surface, Their Value a Secret, New York Times, Sept. 7, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.


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