Kate is secretly betrothed to a struggling journalist, Merton Densher. But she knows her Aunt Maude will never approve of the match, since Kate's deceased mother has lost all her money in a marriage to a degenerate opium addict. When Kate meets a terminally ill American heiress named Millie traveling through Europe, she comes up with a conniving plan to have both love and wealth.
An impoverished woman who has been forced to choose between a privileged life with her wealthy aunt and her journalist lover, befriends an American heiress. When she discovers the heiress is attracted to her own lover and is dying, she sees a chance to have both the privileged life she cannot give up and the lover she cannot live without.