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Case file s893 · Business dynasties · 1906
1906
Marshall Field: Marshall Field circa 1915 (cropped)
Marshall Field. Bain. Public domain, Wikimedia Commons.
Died
16 January 1906
Place
Chicago, Illinois, USA
Field
department stores, Marshall Field & Co. · Military on the timeline
Legal tradition
Illinois law of wills and trusts
Historical event
Gilded Age Chicago

Marshall Field's son was shot two months before he died, and his will locked his fortune away for the grandsons until 1943

Marshall Field built Chicago's largest dry goods business. Graceland Cemetery puts his estate at $125 million. On 22 November 1905 his only son, Marshall Field Jr., 37, was shot in the abdomen and died days later. The cause was never settled: suicide, an accident at home and a shooting at a brothel have all been proposed†. Field died on 16 January 1906. His will gave $8 million to the museum that carries his name. After other gifts, the rest went into a trust for 40 years for two grandsons: 60 percent for Marshall Field III and 40 percent for Henry Field. Henry died in 1917, and his share went to his brother. Marshall III became a trustee of his grandfather's estate. In 1935 Time reported that he would receive the bulk of the $140 million fortune on his 50th birthday, 28 September 1943. His first wife had divorced him in Reno in 1930 with an income of $1 million a year. Once the money was his, he founded the Chicago Sun in 1941, formed Field Enterprises in 1944 and bought Simon & Schuster. He died in 1956. The store was absorbed into Macy's a century after the founder's death. The Field Museum still carries his name.

What the law took from it

A long trust can skip a generation, but it cannot plan for which grandchild will live.

Cite as: celebrity.estate, “Marshall Field's son was shot two months before he died, and his will locked his fortune away for the grandsons until 1943,” story s893, https://www.celebrity.estate/marshall-field-1906, updated 30 October 2026.

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