CodeMonkey Posted June 5, 2014 Posted June 5, 2014 You assume nothing in his will was left to her personally? All of his assets/belongings are in this trust? And is she not the beneficiary of the estate? If she bought the paintings, to whom would the procedes go to, other than to herself and whoever else he designated as beneficiaries? Anyway, is Ralph's wife the executor of his will/estate? That sounds like a strange situation, since she is the beneficiary of his estate without doubt. Is she both? Maybe you are confusing this with her role as an executor of the trust controlling the ownership of the Bills right now? I do not know if she is the executor of the estate or not and it actually does not matter in this case. i also do not know what, if anything, was specifically left to her in Mr. Wilsons Will. But assuming these paintings are part of the estate (not the trust, two different things generally) and that Mrs. Wilson is not the only beneficiary, what I said should be correct.
Canadian Bills Fan Posted June 5, 2014 Posted June 5, 2014 Is the price for all of them combined $1B dollars? CBF
GG Posted June 5, 2014 Posted June 5, 2014 I do not know if she is the executor of the estate or not and it actually does not matter in this case. i also do not know what, if anything, was specifically left to her in Mr. Wilsons Will. But assuming these paintings are part of the estate (not the trust, two different things generally) and that Mrs. Wilson is not the only beneficiary, what I said should be correct. But it doesn't answer the question of why would the estate be liquidating its prime assets so quickly. It is a bit odd to put up those masterpieces so soon.
CodeMonkey Posted June 5, 2014 Posted June 5, 2014 But it doesn't answer the question of why would the estate be liquidating its prime assets so quickly. It is a bit odd to put up those masterpieces so soon. Not at all. If the executors(s) know assets are going to be liquidated there is no reason to wait. One less thing to do later. When I was the executor as soon as the attorney had all the paperwork in order with the state declaring me the executor (took a couple days) and bank accounts were set up etc. I was free to get to work liquidating the assets. I can't think of a reason for Mr. Wilsons executor(s) to wait on this, can you?
KD in CA Posted June 5, 2014 Posted June 5, 2014 Not at all. If the executors(s) know assets are going to be liquidated there is no reason to wait. One less thing to do later. When I was the executor as soon as the attorney had all the paperwork in order with the state declaring me the executor (took a couple days) and bank accounts were set up etc. I was free to get to work liquidating the assets. I can't think of a reason for Mr. Wilsons executor(s) to wait on this, can you? Agreed. There's a cost to maintaining assets; insurance, upkeep, security (in the case of artwork), etc. When my mom passed, I wanted to get the house in shape and on the market ASAP.
mrags Posted June 5, 2014 Posted June 5, 2014 Kind of funny that Ralph supposedly drove around in a Taurus but had $30-40m worth of artwork hanging on his walls. actually he was driven around in a PT cruiser. I know someone that was on his detail taking him from his box to vehicle.
GG Posted June 5, 2014 Posted June 5, 2014 Not at all. If the executors(s) know assets are going to be liquidated there is no reason to wait. One less thing to do later. When I was the executor as soon as the attorney had all the paperwork in order with the state declaring me the executor (took a couple days) and bank accounts were set up etc. I was free to get to work liquidating the assets. I can't think of a reason for Mr. Wilsons executor(s) to wait on this, can you? If the estate is from the last surviving parent, then I can see liquidating it ASAP. It is a bit odd to me to see an estate to start liquidating prime assets so quickly when there's a much younger surviving spouse. Don't you think?
Mr. WEO Posted June 6, 2014 Posted June 6, 2014 I do not know if she is the executor of the estate or not and it actually does not matter in this case. i also do not know what, if anything, was specifically left to her in Mr. Wilsons Will. But assuming these paintings are part of the estate (not the trust, two different things generally) and that Mrs. Wilson is not the only beneficiary, what I said should be correct. It does matter. I seriously doubt that she is Ralph's executor. Makes no sense. Also, why would the executor be liquidating assets he left his spouse in a will. Why would he put these things in a trust? These are simple possessions, not like the Bills, which was business of which he was the sole owner--this is a scenario for a trust. If she is not the only beneficiary, so what? Do you think ALL of his property and possession were put in a trust to be auctioned off? That doesn't make sense. Why wouldn't Ralph just leave his heirs the paintings to do with what they wish? I don't follow your explanation.
keepthefaith Posted June 6, 2014 Posted June 6, 2014 If the estate is from the last surviving parent, then I can see liquidating it ASAP. It is a bit odd to me to see an estate to start liquidating prime assets so quickly when there's a much younger surviving spouse. Don't you think? Well but we don't know what she is keeping. Could be a lot of good stuff.
BackInDaDay Posted June 6, 2014 Posted June 6, 2014 how did this classic escape his collection? Wide Right
BuffaloRebound Posted June 6, 2014 Posted June 6, 2014 If the estate is from the last surviving parent, then I can see liquidating it ASAP. It is a bit odd to me to see an estate to start liquidating prime assets so quickly when there's a much younger surviving spouse. Don't you think? Does seem a bit strange. Maybe if Ralph borrowed money against the team, the debt had to be settled up following a change of ownership which this would qualify as.
Dennis in NC Posted June 6, 2014 Posted June 6, 2014 We both may be reading too much into this, but I was wondering the same thing. Are the heirs now simply selling everything (including things Ralph loved) to the highest bidder? I work 2 blocks from Sotheby's--maybe I'll have to stroll over for the auction and check it out.... Just don't pick your nose during the auction. It might cost you 10 million pounds!
UpperDeck Posted June 6, 2014 Posted June 6, 2014 Any Maybin pieces? It just so happens he did have one: Apparently his talent as an artist was about as good as his pass rushing skills.
Ted William's frozen head Posted June 6, 2014 Posted June 6, 2014 Maybe I'm just not into art like this - but those are pretty awful paintings - Monet had talent? Maybe if you actually saw one of these paintings,you'd change your tune.
bowery4 Posted June 6, 2014 Posted June 6, 2014 JEUNE FEMME DANS LES FLEURS yes, is a great painting. LA SEINE À ARGENTEUIL, also 10million for a reason. Actually I for one, am impressed Ralphie had this stuff at all. But it doesn't answer the question of why would the estate be liquidating its prime assets so quickly. It is a bit odd to put up those masterpieces so soon. There is no doubt more ("prime" stuff, not just art) and it isn't rare (at all) for this to happen quickly. People and circumstances decide this kind of estate stuff long before it happens, especially with someone as old as RW got to be. That is part of why I think the team sale was decided long ago as well, regardless to whatever people have been speculating, here and everywhere else. That important asset was also his legacy, I am sure it was very, very well thought out.
Mr. WEO Posted June 6, 2014 Posted June 6, 2014 (edited) JEUNE FEMME DANS LES FLEURS yes, is a great painting. LA SEINE À ARGENTEUIL, also 10million for a reason. Actually I for one, am impressed Ralphie had this stuff at all. There is no doubt more ("prime" stuff, not just art) and it isn't rare (at all) for this to happen quickly. People and circumstances decide this kind of estate stuff long before it happens, especially with someone as old as RW got to be. That is part of why I think the team sale was decided long ago as well, regardless to whatever people have been speculating, here and everywhere else. That important asset was also his legacy, I am sure it was very, very well thought out. So the person who will buy the team was decided on long ago, by Ralph? Has anyone told Golisano this? Or Bon Jovi? Edited June 6, 2014 by Mr. WEO
Best Player Available Posted June 6, 2014 Posted June 6, 2014 Any idea when the garage sale will be? I'd like to grab a AFL Championship ring or two.
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