THE ASTOR MILLIONS

Taranaki Daily News, Volume LIV, Issue 299, 14 June 1912, Page 7

THE ASTOR MILLIONS

CLAUSES OF THE WILL. YOUNG WIDOW'S LEGACY. , San Francisco, May 13. In willing the great bulk of his estate to his only son, Colonel John Jacob Astor, one of the victims of the loss of the Titanic, merely followed the custom of his forbears in keeping the vast family holdings in New York city intact. The estate is estimated to be worth between £20,000,000 and £30,000,000. With the exception of less than £3,000,000 at the outside, it all goes to the son, Vincent Astor, a Harvard student, who is not yet 21 years of age. No provision was made in the will for Mrs. Ava Willing Astor, the wife who divorced the testator about two years ago. A property settlement was made upon her at that time. The clauses of the will dealing with the young widow of John Jacob Astor, Mrs. Madeline Force Astor, who was rescued from the Titanic, are peculiar. A trust •f £1,000,000 is created in her favor, the income from which is to he paid her. Upon her death the principal reverts to Vincent Astor. Moreover —and this is the strange feature of the will —she forfeits interest in the trust upon her remarriage. The widow is only 19 years old. Her husband was more than double her age. Unquestionably, before her marriage, Miss Force and her family agreed upon the insertion of such a provision in the will. Nevertheless, it is not impossible that the restriction upon the remarriage may be set aside by the Surrogate Court of New York. The surrogate may at his discretion reject the will in whole or in part, as contrary to law. even though no attack is made upon the validity of the instrument by interested parties. Tn wills that have been attacked in New York for provisions which penalised the remarriage of widows, the widows were women of mature years. The courts have uniformly held that provisions pen-, alising the marriage of children are void as contrary to public policy. It may in this case be decided that the same reasoning would apply in the case of a young widow. Mrs. Astor is not, however, entirely cut off in case she remarries. She will lose the income from the £1,000.000 trust, but will receive outright £20,000. The will provides a trust of £600,000 for the benefit of the expected posthumous child of the present widow, and another trust of £IOO,OOO in favor of Muriel, daughter by the first wife of the testator.