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MyspaceThe last will and testament of Huegette Clark, the reclusive copper heiress who died at the age of 104 last month, was filed today by a New York law firm on behalf of her estate’s co-executors. In the nine-page document that spells out how to divvy up her $400 million fortune, Clark instructs that a foundation be formed to turn her sprawling Santa Barbara estate on East Cabrillo Boulevard into a public, permanent art museum.
According to a statement issued by the attorneys representing co-executors Wallace Bock and Irving H. Kamsler, the 21,000-square foot mansion will house her extensive collection of priceless paintings, which includes works by Renoir, John Singer Sargent, and William Merritt Chase, as well as rare books, musical instruments (a Stradivarius violin among them), and other objects. Most of the collection is currently housed in Clark’s Fifth Avenue apartment in New York.
DOCUMENT
Clark herself hadn’t visited the Santa Barbara grounds – which total more than 24 acres – in more than 50 years, but had it meticulously maintained throughout her lifetime. Designed by Biltmore Hotel architect Reginald Johnson, the estate is reportedly worth $100 million. The organization and curating efforts, Clark instructed, will be spearheaded by the Bellosguardo Foundation, named after the home itself, Bellosguardo, which means “beautiful view” in Italian. The nonprofit has been registered in California and New York.
“It is in this beautiful seaside setting, with its formal gardens and grand galleries displaying magnificent artwork not seen for many decades, that Mrs. Clark’s passion and inner being will come to life,” said James Hurley in a prepared statement. His Santa Barbara law firm handled the California affairs of Clark and her mother Anna for the past 80 years.
John Dadakis, who chairs the law firm dealing with Clark’s will, said the document must first be probated before anything moves forward. He said Clark – a painter herself who produced over 50 pieces and had a deep appreciation for the artistic process – wants the museum to be a place of learning and not just viewing. “She was a true student of the process of art,” Dadakis said.
Paul Wellman
Clark Estate
Dadakis believes the estate, when converted, won’t turn into a huge attraction like the Getty, and that traffic and parking requirements could be ironed out without too much trouble. Extra security will likely be added to the already airtight property, he went on, and renovations, though substantial, won’t be overwhelmingly massive since the estate is still in pristine shape.
While the Bellosguardo Foundation will take control of the vast majority of Clark’s collection, she specifically states in her will that one of Claude Monet’s paintings from the his famous “Water Lilies” series will go to the Corcoran Gallery of Art in Washington, D.C. Her late father William Andrews Clark – a Montana senator who struck it rich in the railroad and mining industries, and from whom she received her fortune – was also an avid art collector and donated his entire collection to the Corcoran.
Clark noticeably omits any and all family members from her will. “I intentionally make no provision in this my Last Will Testament for any members of my family,” she wrote, “whether on my paternal or maternal side, having had minimal contact with them over the years. The persons and institution named herein as beneficiaries are the true objects of my bounty.”
Instead, she chose to leave whatever money is left after the Bellosguardo Foundation and museum are formed — which will eat up around three-quarters of her $400 million — to her assistant, accountant, property manager, property caretaker, lawyer, and goddaughter. Her longtime nurse will receive around $37 million.
Related Links
- Clark Estate Owner Dies at 104 [ May 24, 2011 ]
- Huguette Clark, 1906-2011 [ June 9, 2011 ]
Previous Month
Comments
That's beautiful and a wonderful gift to Santa Barbara. What a kind soul!
at_large (anonymous profile)
June 22, 2011 at 5:45 p.m. (Suggest removal)
As long as the number of visitors is kept at a reasonable level, the value of the property is reassessed with its transfer to the Bellosguardo Foundation, and the Foundation pays property tax as well as any other mitigation costs necessary to the City, then I think this will be a wonderful addition to Santa Barbara. Thank you, Ms. Clark!
Pimms (anonymous profile)
June 22, 2011 at 8:10 p.m. (Suggest removal)
501(c)(3) and 23701(d) charitable organizations are exempt from CA state property taxes.
It will be interesting to see if Clark's attorney (Wally Bock) or accountant (Irving Kamsler) will end up on the foundation's governing board.
EastBeach (anonymous profile)
June 22, 2011 at 8:39 p.m. (Suggest removal)
Not all 501(c)(3)s are exempt from property taxes, but I imagine this land would qualify for the property tax welfare exemption. However, if the Foundation takes that exemption, it should really make SB citizens think hard about the costs this museum could create for us all. Properties that draw visitors like this one would can end up sucking up public services, and we taxpayers are left holding the bill for nonprofit charitable foundations.
Pimms (anonymous profile)
June 22, 2011 at 9:15 p.m. (Suggest removal)
Gorgeous! Look forward to visiting...
maximum (anonymous profile)
June 22, 2011 at 11:39 p.m. (Suggest removal)
You have to be kidding, Pimms.
This is the best thing to happen to SB in my lifetime.
Hopefully they'll allow people to picnic in the gardens. It could be like the Vanderbilt Mansion in Hyde Park New York -- a beautiful place to spend a nice afternoon.
We're all very very lucky.
Lars (anonymous profile)
June 23, 2011 at 1:02 a.m. (Suggest removal)
Pimms is a comedian... the 1,000's of visitors in shorts and dripping sticky ice-cream to the ground as they waddle up and down State Street and our waterfront are... well... the life-blood of Santa Barbara, our meal ticket.
Might as well rant and rave about immigrants using up our precious oxygen supply.
Now personally a traffic jam backing up Cabrillo to the Montecito Roundabout and then up Hot Springs and crowding the Montecito Streets would... well... be a good use of existing asphalt. However, unrealistic, and I hope Bellosguardo works out satellite parking and a reservation system like the Getty (nouveau money compared to Clark) has used for years.
sevendolphins (anonymous profile)
June 23, 2011 at 7:17 a.m. (Suggest removal)
At least the city won't be able to turn it into a homeless shelter.
waz (anonymous profile)
June 23, 2011 at 7:48 a.m. (Suggest removal)
This is NOT a gift to SB. It's a scam, thru and thru. The city would make far more money, if that's the issue, if it's sold and turned into a luxury hotel. Do you actually think you'll be able to "picnic" on the grounds? And not pay thru the nose to go inside and see some 2nd rate art? (all the best went to the Corcoran.) The beneficiaries of her will are the people who've cared for her and properties for many years and now cash in, including the lawyers, the "Board," who will undoubtedly draw fat salaries for doing nothing. Her "goddaughter" is one lawyer's daughter. Both lawyers are currently under investigation for mishandling her estate. Whether that goes anywhere or not, her estate will be in probate for many years. Don't think every far-flung heir won't be suing. Ah well, at first I thought it a good idea, but having thought about it, a deluxe hotel seems the best way to go.
MightyQuinn (anonymous profile)
June 23, 2011 at 9:10 a.m. (Suggest removal)
It's important to preserve these historical estates. The tourists who come here to visit the Clark art museum will spend plenty of money at the local restaurants and hotels. The City will benefit financially from this.
Georgy (anonymous profile)
June 23, 2011 at 9:59 a.m. (Suggest removal)
"all the best went to the Corcoran" -MightyQuinn
The article clearly states that one piece from her collection was reserved for The Corcoran. The opinions of illiterate folks are typically pretty useless, as is your idea that somehow there is a choice between a deluxe hotel and art gallery.
The selfless and anti-dynastic philosophies of Lillian Child and Huguette Clark have allowed 54 acres of SB's most prized and beautiful real estate, which was once in private hands, to become open to the public once again. THANKS, LADIES.
3domfighter (anonymous profile)
June 23, 2011 at 9:59 a.m. (Suggest removal)
First of all, her father's collection, which was THE collection went to the Corcoran, that would have made a difference to me, if it came here. You're pretty quick to call someone illiterate!! Sheesh. In any case, I hope for the best for SB, my home for 50 years. I'm simply wary of the lawyers, the particular history of these lawyers, and how it will all pan out, and especially wonder if Clark herself made any of these decisions, and when. It'll be thrashed out in the courts, and for years, believe me.
MightyQuinn (anonymous profile)
June 23, 2011 at 11:19 a.m. (Suggest removal)
Right on Lars - I agree! I already love Santa Barbara and now can't wait to have another wonderful place to see when we visit . . . and I also am looking forward to seeing the Andree Clark Bird Refuge which Huguette created. Huguette ROCKS!!
Kimorama (anonymous profile)
June 23, 2011 at 11:45 a.m. (Suggest removal)
@Pimms: A second read of the article shows the Bellosguardo Foundation will be supporting a public museum. Museums with free admission and art galleries are partially or fully exempt from CA property taxes. See page 8:
http://www.boe.ca.gov/proptaxes/pdf/p...
Here are two interesting articles from the NY Post and NY Daily News:
http://m.nypost.com/p/news/local/copp...
http://www.nydailynews.com/ny_local/2...
And a copy of Huguette's Last Will and Testament:
http://m.nypost.com/;s=jAUZfi_WAy2nGE...
Its interesting to note the typo in the amount specified for Huguette's doctor ... "$100,000,00".
EastBeach (anonymous profile)
June 23, 2011 at 1:23 p.m. (Suggest removal)
Not to belabor the matter, but I noticed Huguette's will specifies that the Bellosguardo Foundation be organized as a "private foundation" as opposed to a "public charity" under tax code section 501(c)(3). The foundation is to be an "educational" organization supporting the arts.
http://www.muridae.com/nporegulation/...
So from that viewpoint, I don't believe the foundation would qualify for CA property tax exemption under the CA "welfare exemption" but might qualify under the "other exemption" (free museum, art gallery, etc.).
Anyways, kinda interesting when you've been dealing with family trusts and estate planning. Not that I'll leave much of a legacy behind :)
EastBeach (anonymous profile)
June 23, 2011 at 1:51 p.m. (Suggest removal)
I am having trouble understanding why she would wait till death to open such a museum. She had the money, had the intention, so why wait? It makes no logical sense, maybe an Estate/Trust Attorney can speak up here.
Also why was the will not amended or updated in the years following 2005? Or after someone noticed the error on the Dr.'s gift? It seems the firms entrusted with an estate this big would have perfect documents drafted at all times.
Also if she wanted to set up a museum why not include her famous doll collection, which seems to have been the love of her life?
(Maybe the accountant, attorney, and nurse have negotiated a deal, as hush money for (speculated) elder abuse incurred by her accountant Irving Kamsler who is a registered sex offender and Attorney Wallace Bock who have both been under investigation by the Manhattan District Attorney's office for possibly mismanaging her affairs?)
East Beach the typo will probably be deemed a scriveners error, but I noticed he is the only 'friend' who is given less than $500,000. In terms of this estate the amount in meaningless, but it will be interesting to see if the Dr. goes after the extra 900,000.
How probate goes, and how the foundation is managed will be quite interesting, this story is not complete.
Tucker (anonymous profile)
June 23, 2011 at 2:03 p.m. (Suggest removal)
This is just a guess ... not that there had to be a reason, but it may have been a liquidity issue. The NY Post article says distributions from the will are to be funded by sales of Clark's Manhattan and Connecticut properties. So maybe some of that liquidity is needed to setup & fund the museum?
Clark's accountant (Kamsler) and attorney (Bock) are designated executors of Clark's will. That means Kamsler, Bock, and James Hurley (Clark's California attorney) are designated by the will to be the board of directors for the new Bellosguardo Foundation.
The doll collection is going to Clark's nurse (Hadassah Peri), along with 60% of the estate ( or ~$33M). Yowza.
EastBeach (anonymous profile)
June 23, 2011 at 3:40 p.m. (Suggest removal)
What a tremendous gift to our community from Ms. Clark. We should all feel blessed.
sallyt (anonymous profile)
June 23, 2011 at 10:16 p.m. (Suggest removal)
Cool! Although recluse, mysterious and unusual she must have had a heart of gold, may she rest in peace. I cannot wait to check out "her" paintings.
contactjohn (anonymous profile)
June 24, 2011 at 12:32 a.m. (Suggest removal)
Wow! Already a "who done it" with probably the Butler's grubby mitts all over will, the bequests and ultimately the courts will decide. Unlike New York and the hands off verdicts these lawyers enjoyed fooling around in California is another matter altogether. Somebody check the pantry!
contactjohn (anonymous profile)
June 24, 2011 at 12:42 a.m. (Suggest removal)
In my opinion the art and the house don't really matter. I'm just glad we'll have the chance to sit on those expansive lawns and enjoy the views. Ty Warner would never have invited any of us over for tea.
Lars (anonymous profile)
June 24, 2011 at 5:21 a.m. (Suggest removal)
Why are people, all of the sudden, tearing their guts out over this place. I've lived here all of my life, passing the place thousands of times, never giving it much of a thought. Now, the owner dies, plans are revealed, and you all are arguing about whether the decision she mad about HER property was good or bad. Anyone who thinks it's a scam, or that it will cost to much to enter the property, can simply decide to not go. Those who wish to see it, can pay whatever price, if they think it's worth it. You can't turn the place into a luxury hotel or a homeless shelter against the wishes of the devisor. IT'S NOT OUR PROPERTY! Yes, this property will be in probate a good long time. Not because of any ambiguity as to what the devisor's wishes were for the property, but for the long line of parasites waiting in line for "their cut".
waz (anonymous profile)
June 27, 2011 at 8:20 a.m. (Suggest removal)
Good for you waz. I do, however, think that ALL nonprofits that own property should pay property tax.
JohnLocke (anonymous profile)
June 27, 2011 at 8:52 a.m. (Suggest removal)
I'm with JohnLocke -- I think all non-profits, city, county and state properties should pay property taxes.
All these properties need the services provide by property taxes; police, fire and schools.
Look at the 1000+ housing units that the city owns, they should be paying property tax on them too.
loneranger (anonymous profile)
July 3, 2011 at 3:58 p.m. (Suggest removal)