The Weighty Responsibility of Inheriting a Collection

Paul Sullivan, in his weekly NY Times column, Wealth Matters, writes about the impact of a large collection on heirs.  His article  begins as follows:

AFTER her mother died, Jaye Smith surveyed the boxes around the big, rambling house where she had lived on Staten Island for 50 years and thought, “We’ll worry about them later.”

Ms. Smith’s mother, Carol Carlisle, a photographer and a former managing editor of Popular Photography magazine, had collected hundreds of photos over her nearly 35-year career. While Ms. Smith, an executive coach, appreciated her mother’s eclectic collection, she didn’t know much about its quality. Then a friend asked if she could have one of her mother’s old photos.

“I had this one that was an old man with some bird cages,” she said. “I had an eye disease at the time. I handed it to her and she turned it over and said, ‘It has Cartier-Bresson’s stamp on the back.’ ”

via The Weighty Responsibility of Inheriting a Collection –

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.