Leaving It to the Arts
By Richard Amada on Nov 11, 2009 | In General | Send feedback »
The New York Times reports that a recently deceased woman in Scotland has left the Metropolitan Opera in New York $7.5 million dollars in her will. Mona Webster was apparently a great fan of opera and especially impressed with the Met. (According to the story, she left only $167,000 to the U.K.'s Royal Opera Trust.)
Most of us aren't in a position to be as generous as Ms. Webster was. However, everyone should have a will or a living trust, or both, to set out how her or his worldly possessions will be distributed after death. Leaving some portion to an arts-related entity is no more complicated than leaving it to anyone else, and arts patrons should know that's an option.
One caution though...Cash gifts will likely always be welcomed. Gifts of other sorts (such as art collections) may not always be something an arts entity can absorb into its own collection. If such gifts are refused by the intended beneficiary, the property would then likely pass to someone other than whom you intended to receive it. So, if you're planning to leave something other than cash to the arts, the smart move is to first contact that entity to make certain the gift will be accepted.
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