It is common when discussing how people lived or acted in the past to use the would have form. It indicates that the statement is made based on inference from the evidence we have rather than on detailed records. In this case we don't know who the family were, but we can reasonably assume that they were wealthy and important based on the evidence we have.
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Blue JayIt is common when discussing how people lived or acted in the past to use the would have form.Thank you for the reply.