Estate Planning for Valuable Art

In the Press · April 19, 2012

This edition
of Wealth Management Insider discusses the various options available, and issues
to consider, when art owners and collectors decide to either pass their
collections to family members, or donate the art to a museum or other institution.

The
article discusses taxation issues, valuation, the various types of trusts, and
even fractional interests. With the many options available, and the many financial
and tax implications for both the donor and the recipient, Patricia recommends
that the client “assemble a team of advisers that understand how to deal with
it, including an attorney, financial adviser, tax specialist, and an art
succession planner.”

Click
here
to read the entire article, and the various decisions and choices for
preserving the legacy of artwork.