“Poor” Man Leaves $3 Million to Montana

Looks are deceiving.  For example, just because a person appears financially challenged, does not mean it is so.

See Susan Gallagher, Man Bequeaths Millions to Montana Wildlife, AP, Nov. 11, 2005, which explains that

LeRoy Beckman went to secondhand stores for hearing aids and heated only one room of his small Montana house. He got around in an old panel truck, favored bib overalls and found Social Security adequate in his old age. * * *

But the frugal old bachelor had an estate upward of $3 million when he died in 1997 at 88. And it turned out that the curmudgeon secretly had a benevolent side.

The Great Falls farmer directed in his will that his money be used to buy up land and donate it to the state for use by hunters. * * *

The four contiguous tracts – called the Beckman Wildlife Management Area – will amount to about 6,500 scenic acres, including grasslands, pine and fir trees, gentle slopes, coulees and the Judith River. The land is inhabited by antelope, wild turkeys, pheasants, foxes, coyotes, raptors, songbirds, an occasional mountain lion and, of particular importance to Beckman, mule deer.

“It had to be mule-deer habitat, not elk habitat,” said McDermand, personal representative for the Beckman estate. “He didn’t like elk.” Beckman also specified that a river flow through the property.

Note that the IRS will not collect any estate tax on Beckman’s estate as his gift qualifies for the charitable deduction.

Special thanks to David S. Luber for bringing this situation to my attention.