Alice Vanderbilt's husband died of a
cerebral hemorrhage on September 12, 1899, in their New York home at
1 West 57th Street. His estate at the time of his death was appraised at $72,999,867 (equivalent to $ in dollars), $20 million of which was in real estate. Alice lived another 35 years until her death on April 22, 1934, in her home at
857 Fifth Avenue in Manhattan, where she had moved after the 1926 sale of the 57th Street mansion (which was then demolished).
Estate and Trust Litigation The Executors of the Will of Cornelius Vanderbilt II had set aside $7,000,000 from his Estate for the Trust Fund to pay the $250,000 annuity provided for Alice under her husband's Will. By 1928, the trust had accumulated surplus income exceeding that amount, and in 1929 the Surrogate's Court of New York ruled that $2,005,015.39 in surplus income and excess principal should instead be treated as part of her husband's residuary estate. As her late husband's residuary estate had been left to her deceased son Alfred, the Court ordered that the funds be paid to Alfred's Executors; his residuary estate had been left to his two younger sons
Alfred and
George Vanderbilt. At her death in 1934, Alice Claypoole Vanderbilt's gross estate was valued at $10,120,907.17, with a net estate of $9,354,587.85 after deductions, including the value of the funds held within the Trust given to her under the terms of Cornelius' Will, valued at $5,935,572.07. Her will provided for a range of bequests to her family: From the Trust Fund Established in her Husband's Will: • $150,000 to her daughter
Gertrude Vanderbilt Whitney • $500,000 to split evenly between the children of her late son
Alfred Gwynne Vanderbilt: •
Alfred Gwynne Vanderbilt Jr. •
William Henry Vanderbilt III •
George Washington Vanderbilt III • The remaining balance of the Trust Capital ($5,285,572) to: • One-third (approximately $1,762,000) to the children of deceased son Reginald:
Cathleen Vanderbilt and
Gloria Vanderbilt (approximately $881,000 each) • Two-thirds (approximately $3,524,000) to her daughter
Gladys Vanderbilt Széchenyi From her remaining estate, Alice also provided for: • $100,000 to her widowed daughter-in-law
Gloria Morgan Vanderbilt • $100,000 each to her sons-in-law,
Harry Payne Whitney and
Count László Széchenyi • $50,000 to her granddaughter Countess Alice Széchenyi (daughter of Gladys) • $50,000 to
Alice Vanderbilt Morris • $100,000 to her sister Cettie Gwynne Shepherd • $50,000 to her niece Maud Gwynne Harran • $50,000 to the Society of St. Johnland, Long Island (Sunbeam Cottage) • $80,000 to Newport Hospital for the Cornelius Vanderbilt Pavilion • $50,000 to St. Bartholomew's Church, New York City • The
Gwynne Building, Cincinnati to her son
Cornelius Vanderbilt III • Her Manhattan Townhouse,
857 Fifth Avenue, and its furnishings to her daughter
Gladys Vanderbilt Széchenyi ==Real estate==