A collection may hold deep personal significance for a client but may not carry the same sentimental or financial value for their heirs. It is essential to encourage clients to have open conversations with their heirs, as...more
A well-organized inventory is essential for effectively managing and planning the distribution of collectibles, including art. Clients may struggle to track their assets without an inventory, making future distribution and...more
1/28/2025
/ Art ,
Asset Management ,
Copyright ,
Copyright Ownership ,
Documentation ,
Estate Planning ,
Estate Tax ,
Inventory ,
Probate ,
Tax Planning ,
Trusts ,
Valuation ,
Wealth Management ,
Wills
Art and collectibles, while beautiful and culturally significant, can pose significant estate planning challenges. At the time of death, these assets are subject to estate taxes based on their fair market value. Without...more
1/21/2025
/ Art ,
Charitable Donations ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
Gift Tax ,
Limited Liability Company (LLC) ,
Tax Liability ,
Tax Planning ,
Trusts ,
Wealth Management