Marge Schott net worth when she died, Schott estate worth $123.4M, Former Cincinnati Reds owner Marge Schott owned almost $3 million worth of paintings and other art, $66,100 worth of Rookwood pottery and two Corvettes among her $123.4 million in assets when she died.
That's according to an inventory filed in Hamilton County Probate Court Friday by Schott's estate.
The filing covers multiple bank or brokerage accounts, including one Fifth Third Bank account valued at $45.5 million.
Schott's Indian Hill house and property were valued at $18 million.
In April, Schott's lawyers estimated the value of the estate at $100 million and said almost all of it would go to the charitable foundation established by Schott and her late husband, Charles.
The filing Friday follows formal appraisals of all of Schott's holdings.
Phyllis Cartwright, a director of the Marge & Charles J. Schott Foundation, Friday said directors hadn't decided which property to sell. The estate still has to pay taxes and fees out of those assets, she said.
"A lot of it will be sold and put into investments that will be given out charitably. It was meant to be a long-term foundation."
The estate is based on a will Schott signed in May 1991 and updated three times, the last time in March 2003. She died this past March 2 at age 75.
There already is a market for some of the holdings. For example, the inventory values University Plaza Shopping Center in Corryville at $6.4 million.
Neighborhood development leaders in Clifton Heights and Corryville see the aging shopping center anchored by a Kroger grocery store as a critical link in the area's development. A proposed master plan calls for demolishing the center, reconnecting Short Vine to Vine Street and revitalizing the area with new shops, office and residential units.
Schott's estate already has sold one piece. Friday, it was expected to close on the sale of her one-fifteenth stake in the Reds to other team owners for $6.1 million.
Schott's will includes $1 million bequeathed to each of her four sisters, including money for their long-term care, and smaller amounts to several longtime employees.
Tuesday, June 11, 2013
Marge Schott net worth when she died
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