Showing posts with label Business Econ Wills Estates. Show all posts
Showing posts with label Business Econ Wills Estates. Show all posts

Tuesday, November 4, 2008

Historical Soc to auction Baltimore artist Turnbulls estate

Historical Soc to auction Baltimore artist Turnbulls estate

A sad turn of events…

Historical Society to auction Baltimore artist Turnbull's estate amid financial troubles By Edward Gunts November 1, 2008

From preservation to desperation

Before her death in 1976, the noted Baltimore artist Grace Turnbull wrote a will leaving her valuable Guilford residence and much of her prized artwork to the Maryland Historical Society, with the stipulation that "the premises be kept intact as far as possible" and perhaps even exhibited "as a memorial to my family and me."

But 32 years after she died, Turnbull's vision is coming unraveled, with her house going on the auction block today and its contents following tomorrow.

After accepting Turnbull's gift and honoring her wishes for three decades, directors of the historical society relinquished all rights to the Spanish Colonial residence at 223 Chancery Road last year, setting in motion a sequence of events that led to today's sale by Alex Cooper Auctioneers.

Despite a last-ditch effort by a private group that sought to raise funds to avert the auction and keep the house and contents together, Turnbull's sculptures, paintings, books, furniture, house and studio will all be offered to the highest bidders.

[…]

The Turnbull auction shows that even the most carefully crafted will can have consequences different from what a donor may have intended. It's also a comment on the difficulties that nonprofit organizations face in accepting bequests that come with strings attached, especially during an economic downturn.

Protecting works of fine art and rare architecture is a recurring problem at a time when even established house museums are facing financial trouble, including the Mark Twain House in Hartford, Conn., and The Mount, Edith Wharton's estate in Lenox, Mass.

Providing access to valuable works of art is "the greatest issue of our time," said Doreen Bolger, director of the Baltimore Museum of Art. "It's a huge obligation. It's something we worry about every day."

[…]


Read the rest here: Historical Soc to auction Baltimore artist Turnbulls estate

www.baltimoresun.com/news/local/baltimore_city/bal-te.to.turnbull01nov01,0,6320611.story

baltimoresun.com

20081101 Historical Soc to auction Baltimore artist Turnbulls estate

Friday, July 25, 2008

Parents Can Help Ease the Burden By Mara Lee Special to The Washington Post Saturday

Parents Can Help Ease the Burden By Mara Lee Special to The Washington Post Saturday

See also:
20080719 Mom's House, Your Responsibility by Mara Lee, Special to The Washington Post

http://kevindayhoff.blogspot.com/2008/07/moms-house-your-responsibility-by-mara.html

Related:
Business and Economics, Business and Economics Wills and Estates, Children Parenting and Intergenerational studies, Real Estate, Real Estate property management

By Mara Lee Special to The Washington Post Saturday, July 19, 2008; F02

There are things parents can do to make it easier for their children to handle their affairs after they die or if they should become unable to manage them.

Most important: Tell them where everything is. Where's your will? Where do you have bank accounts, stock holdings or safety deposit boxes? Where are those statements? Where are your tax records? Your utility bills?


Read the rest here:
Parents Can Help Ease the Burden

Mom's House, Your Responsibility by Mara Lee, Special to The Washington Post

Mom's House, Your Responsibility by Mara Lee, Special to The Washington Post
Special to The Washington Post, Saturday, July 19, 2008
http://www.washingtonpost.com/wp-dyn/content/article/2008/07/18/AR2008071801413.html
Labels:
Business and Economics
Business and Economics Wills and Estates
Real Estate
Real Estate property management
Children Parenting and Intergenerational studies

With the experience of 25 years in the property maintenance business, I thought the article that follows – and the companion piece, “
Parents Can Help Ease the Burden,” by Mara Lee, was an excellent introduction to a difficult subject…

Managing the home after a parent dies can be fraught with difficulties. Here's a guide to bringing about a successful sale.

By Mara Lee, Special to The Washington Post, Saturday, July 19, 2008; F01

Carylin Waterval's mother had no will -- and no time to prepare one.
At 63, she was diagnosed with lung cancer and died within three weeks, leaving behind a small business and a four-bedroom house in Ashburn. Waterval, who lives in Alexandria and whose brother lives in Texas, found herself in charge of all the financial paperwork -- bank accounts, stock holdings, tax records and unpaid bills. Even though Waterval, 42, is an accountant, she found the volume overwhelming.

Selling a house after a parent's death can be a lengthy and daunting undertaking. Household bills still have to be paid. Then there's the matter of deciding who wants what, how to ship it to them and how to dispose of the rest. There's finding a real estate agent, deciding how to present the house and arriving at a price. And all this work may have to be done from out of town.

Until you sell the house, you have to manage it.


Read the rest here:
Mom's House, Your Responsibility