Ferrari Mailing List: Re: wills

[George P . (ygpz4re]

After I'm gone.  Thanks.

Regards,

George P.

On Feb 19, 2013, at 3:55 PM, "Brian E. Buxton" <BrianBuxton [at] BuxtonMotorsports.com> wrote:

Are you wanting to donate it now or after you pass?

Brian

On 2/19/13 6:59 AM, George P. wrote:

Hi Ferrari Listers,
 
I'm soon to be updating my will and have a bit of a dilemma.  First the background.  Almost 2 years ago, a close friend of the family passed away.  His widow and her sister (executor) gave me a model car collection which he had amassed over the years (all Fords, with a couple of Lincolns and Mercurys thrown in for good measure), and an absolutely gorgeous curio cabinet to display them in.  Although I'm not a Ford guy like he was, I'm thrilled to have them simply because he was one of the best people I've ever known.
 
So my dilemma - as I update my will, what to do with that collection?  I do not want it just broken up and sold off on ebay.  My hope is that it would be displayed somewhere where many people would see it and would remember him as a result (I would ask that it be displayed with a small placard "A gift from the estate of..." - him, not me).  I've thought about a couple of automotive museums and am inquiring as to whether they'd even accept a gift like that.  I've also thought of a couple of places in his hometown - with the same caveat - not the least of which is the school system where he worked his entire career.
 
Would any of you have any other clever, "outside the box" kind of ideas for a situation like this?  Also wondering if any legal experts can comment on bequests such as this?  Can one make a bequest and attach requirements to it?  Is the recipient legally bound to abide by those requirements?  What if they don't?  Who would even know?  etc etc etc.....
 
Thanks.
 
gp

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