Tom this is just how I do it. I don't care if the wood has been down or is green when I cut it I seal it right then. I have found that even with the tree down for 2 to 4 yrs it can still have stresses and moisture. 2 yrs ago I cut up a walnut log that had been down over 3 yrs. I went ahead and cut it up thinking I didn't need to seal it because it was dead and down for so long. The next morning I went out and it had cracked bad enough that all I got out of it was blanks big enough to turn lidded boxes. I got 2 bowls out of a 6 ft long log. This is just my experience. I agree with Vaughn you don't need to cut bowl blanks right away. Just make sure you get the pith cut out.
Retirement: That’s when you return from work one day
and say, “Hi, Honey, I’m home – forever.”
To succeed in life, you need three things: a wishbone, a backbone and a funnybone.