Give arts council what they deserve
Published: July 15, 2008 1:00 PMUpdated: July 15, 2008 1:51 PM
The June 24 copy of The Leader included a story about the estate of Peter Graham and the Delta Arts Council trying to get the house away from his widow, Louise Graham.
I think Peter Graham’s wishes should be followed, as long as the amount of money available to the executor is that which was available to him on the date of death.
According to the articles I have read, Mr. Graham had assets of about $90,000 and liabilities of $146,000. Take the $146,000, subtract $90,000 equals minus-$56,000. Then pay all the taxes and bills owed by Mr. Graham.
This finds the account in a minus-$56,000 position unless the creditors take a cut on what they are owed. Then deduct 50 per cent of all the mortgage payments, less 50 per cent of all repairs, less 50 per cent of property taxes, less 50 per cent of insurance, less 50 per cent of improvements, less 50 per cent of heat and electric (for climate protection of the property).
All those have been paid by Mrs. Graham over the years. Then deduct legal costs of the executor.
This should leave the Delta Arts Council with precisely what they deserve.
Nothing.
Elen Laursen
Delta





