I would probably quilt and finish it before washing. You stated that the edges are already frayed. Washing it now would most likely cause more fraying. After it is completed I would wash it gently in Synthrapol or Orvus with stain catchers. Better safe than sorry. I wish you luck in finishing your family heirloom.

I wash mine by putting in the bathtub..water and Woolite in first, quilt submerged into the water. I gently squish the water through the quilt, and roll and unroll, swishing gently, then let the water out of the tub. Then I put fresh cool water in right on top of the quilt, keep squishing to rinse with the drain open. When no more soap appears with squishing, I allow it to rest and let as much water run out of it as possible. Then I gently but firmly roll the quilt up, squishing the water out as I go. Then I put the rolled quilt into the washing machine and put it on Spin cycle. I run it though one Spin to get the rest of the water out. Then I spread it on a sheet on the floor in our extra bedroom and let it air dry for a couple of days, turning it over the 2nd day. You'll be amazed how much dirt comes out. It will be soft and pliable again. You can leave it as is, or put new binding on. And yes, you can hang it on a quilt rack or holder after it is completely dry and you have checked and repaired all separated seams. Be sure to refold or rehang it every so often so it doesn't "sag" after a while.

Thanks so much to everyone for advice and good ideas. The quilt is a treasure. I'm new on the computer so when I figure out how to send pic I will. Thanks again for being so kind. Go Quilters.!! rosieret