A composer named Irvin Graham passed away many years ago, at the age of 92. Mr.Graham had written a lot of songs and shows during his long career and was a lifetime member of the Dramatists Guild. Upon his death, we were surprised to learn that the Guild was a beneficiary of his will. In fact, he had left his entire life’s work to the Guild...and we didn't know what to do with it.
Irvin was one of four writers of a song called “I Believe.” Elvis recorded it, Frankie Laine, Barbra Streisand—it’s been recorded by just about everybody. His one-quarter interest in that tune generated significant income for the Guild every year, without us doing anything more than answering the phone and depositing the checks.
We thought, “Hmmm… maybe there’s something more we can do with this.” Meanwhile, the Guild continued to receive calls over the years from members who were trying to put their wills together. They wanted guidance on estate planning, particularly on the matter of finding someone they could trust, or just somebody willing, to make decisions about their work after they were gone. They also wanted to do something for the Guild, like Mr. Graham did, in order to support future generations of dramatists. But we had no advice to offer on such matters and did not have the staff, resources or expertise to take on the management of other properties.
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