If you do sell the bass, sell it as is - this seems to be your mind set as well. I state this from the perspective of someone who, 7 years ago bought a beautiful, but trashed, Elan off of eBay and sent it to Alembic for a full restore/refinish. Also, as others have said, you have my sympathies, the whole situation sounds like a really sad episode. Congrats to your relative for coming out of it a better person.
I agree. Just sell the bass and put it all behind you if that's what you want to do. If you want one like it was, go buy a new one from Alembic.
If the bass has some sentimental value to you then get it restored perfectly. Be aware it will probably cost much more than a new one. You say this option doesn't interest you.
Now if this were my bass and my story, I can tell you what I'd do! I'd leave it just as is (like Willie Nelson's guitar with the hole worn though it) just for the "story" value. People trash brand new instrument to "relic" them to generate a fake story and you've got a REAL story! But of course I'd also tweak that baby in until it had better tone than it had new (ever notice the TONE out of Willie Nelson's beat to crap guitar?). Then I'd take it out and play the crap out of it.
My other option I'd consider would be to again maximize the tone and playability and just refinish it. No not like it was but just the best you can do given the condition. If that means spray painting it blue so be it! The "tone wood" is still there under the paint!
One problem with the past is that it's past! If you try to go back there it just interferes with what you are doing now!