He ran out of time. He was starting to formulate plans for his museums, but had only got around to dealing with the Pop Culture Museum before he died.
Mike On Sun, Jul 14, 2024, 9:05 PM brad via cctalk <cctalk@classiccmp.org> wrote: > I wonder why Paul didn't set it up to try and find a group willing to keep > LCM or the whole collection under a new museum first. Then have a provision > that it must be a non profit, and if it doesn't work, proceed to auction > for charity. BradSent from my Galaxy > -------- Original message --------From: Wayne S via cctalk < > cctalk@classiccmp.org> Date: 2024-07-14 5:59 p.m. (GMT-08:00) To: Wayne > S <wayne.su...@hotmail.com> Cc: "General Discussion: On-Topic and > Off-Topic Posts" <cctalk@classiccmp.org>, Wayne S <wayne.su...@hotmail.com> > Subject: [cctalk] Re: LCM auction pre-notice The estate should just have > given the collection or parts of it directly to the charities if the > charities were equipped to dispose of it.Sent from my iPhone> On Jul 14, > 2024, at 17:56, Wayne S <wayne.su...@hotmail.com> wrote:> > Yes, but you > still have to do the paperwork. Declare the revenue you got for it and then > the paperwork from the charity acknowledging they received it and it’s > value. PITA> > Sent from my iPhone> >> On Jul 14, 2024, at 17:12, Bill > Gunshannon via cctalk <cctalk@classiccmp.org> wrote:>> >> >> >>>> On > 7/14/2024 7:14 PM, Wayne S via cctalk wrote:>>> Trying to compare a > billionaire’s estate collection with people like us is futile. Most of us > collectors will die and our collection wont be of interest to the IRS > because it won’t amount to much. Pauls collection, on the other hand, will > be of interest simply because he called out what to do with it when he dies > (sell and proceeds to charity) and he’s a billionaire so they look very > closely at estate where there could be significant tax revenue.>> >> There > is probably no tax revenue if it all really goes to charity.>> >> bill>>
