Disinheritance (and Possible Undue Influence) in the House of Mirth

I'm becoming a pretty big Edith Wharton fan. I loved The Age of Innocence (the movie is pretty good too), and am now working my way through The House of Mirth.

The House of Mirth (which was published in 1905) focuses on Lily Bart, who is beautiful but relatively poor and 29-years-old, which means that she's running out of time to make an advantageous marriage. Ms. Bart is ambivalent about marrying, and about the social circle in which she travels -- part of her wants to find a wealthy husband, but another part of her wishes to simply be herself (perhaps with the not-so-rich but intelligent Lawrence Selden?). Ms. Bart's situation becomes precarious when she befriends Gus Trenor, the husband of her good friend. Mr. Trenor agrees to invest some of Ms. Bart's money, but it soon becomes clear that Mr. Trenor expects to be "paid" in some way for this favor. It also becomes clear that Mr. Trenor didn't invest Ms. Bart's money at all (instead he is making gifts to her, which is clearly inappropriate). Ms. Bart doesn't have the ability to return Mr. Trenor's gifts -- she's already spent the money. Even worse, Ms. Bart's cousin, Grace Stepney, has been talking to their wealthy aunt (Mrs. Peniston) about Ms. Bart's behavior. This talk comes in Chapter XI of Book One, and borders on undue influence (although Ms. Stepney is driven not by hope of inheritance, but by hatred of Ms. Bart).

Later in the book, Mrs. Peniston dies, and Ms. Bart hopes that a long-promised inheritance will alleviate some of her financial concerns. But at the reading of Mrs. Peniston's Will (in chapter IV of Book Two), Ms. Bart learns that -- except for one small gift -- "she has been disinherited" in favor of Grace Stepney. Ms. Stepney is to receive the residue of Mrs. Peniston's estate (the property remaining after specific gifts are made and debts and expenses are paid).

I'd be curious to find out when the practice of holding a formal "reading of the Will" died out. (I've never been asked to give such a reading, although I'd welcome the opportunity).