$75.00
Art, collectibles, cars, jewelry and other unique assets, perhaps handed down for generations in a family, may form a large share a client’s estate. Unlike more traditional assets, these non-traditional assets pose special challenges for planners. There are issues of valuation – how do you value a painting, even by a well-known artist? – and liquidity. Though very valuable, these objects do not have liquid markets. There are also many issues surrounding the lifetime or post-mortem transfer of control of these assets, tax issues, and, in some instances, intellectual property issues. These and many other issues can be fascinating but also frustrating. This program will provide you with a practical guide to trust and estate planning for art, collectibles, jewelry, and other unique assets.
Trust and estate planning issues for art, collectibles, jewelry, cars, and other unique assets
The problem of valuing unique objects
Liquidity and paying taxes and expenses for objects with great value but small markets
Irrevocable trust planning for art and collectibles
Lifetime and post-mortem charitable giving during the donor’s lifetime
Succession planning for unique objects
Issues related to fractional ownership interests
Art executors and special powers of attorney
Estate administration issues
Speakers:
Jeremiah W. Doyle, IV is senior vice president in the Boston office of BNY Mellon Wealth Management, where he provides integrated wealth management advice to high net worth individuals on holding, managing and transferring wealth in a tax-efficient manner. He is the editor and co-author of “Preparing Fiduciary Income Tax Returns,” a contributing author of Preparing Estate Tax Returns, and a contributing author of “Understanding and Using Trusts,” all published by Massachusetts Continuing Legal Education.
Blanche Lark Christerson is a managing director at Deutsche Bank Wealth Management in New York City, where she works with clients and their advisors to help develop estate, gift, tax, and wealth transfer planning strategies. Earlier in her career she was a vice president in the estate planning department of U.S. Trust Company. She also practiced law with Weil, Gotshal & Manges in New York City. Ms. Christerson is the author of the monthly newsletter “Tax Topics."
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