Learn how families can equitably dividing assets with both emotional and monetary values. Read our tips for dividing art & collectibles published in The Journal of Estate & Tax Planning published by the National Association of Estate Planners & Councils.
In an interview for Northern Trust, Wealth Advisor Stacy Singer describes the nuanced and often challenging path to estate resolution when valuable, one-of-a-kind objects are passed down to heirs. She offers her four strategies for navigating wealth transfer involving valuable fine art and collectible objects, which align directly with our holistic approach to collection management. In this post, we drill down the four key elements of this wealth planning strategy for art.
Why is it that we love our jewelry so dearly, so deeply? Why are we so obsessed with the teeny-tiny-uber-precious-delicious-shiny-sparkly-jewels? Find out in an informal and friendly art history talk with Taft Museum of Art Manager of School and Docent Programs Lisa Morrisette. This program will help deepen your appreciation of jewelry in anticipation of Bijoux Parisiens. It will explore the history of jewels, our unending desire to possess them, and why we place value in them.
Want to learn the language of art? Interested in sharpening your vocabulary? Meet Lingo, our searchable online glossary of the specialized terminology of art valuation.
Lingo is a searchable database of art-specific terms aggregated from trusted professionals in our industry.
Ephemeral letters, posters, tickets, notecards, and other paper goods can be valuable - but you've got to know how to identify them.
Ever wondered why some baseball cards often thought of as a valuable collectible investment - and bring BIG prices at auction - when most others have little, if any, resale value? Learn a general dating system for cards that you can use as a guide to infer age, importance, and rarity - important factors that set real treasures apart from everyday trinkets.
Understanding the value of tangible property is critical when planning or administering an estate. Morgan Rigaud & Joey Thomas of Bryson Estates join forces with Taft Law attorney Dan Hoffheimer in conversation about the role of the appraiser in the estate settlement process with host Maryanne Zeleznik on Cincinnati Edition.
Gifts of valuable artwork can satisfy donor’s philanthropic and tax planning desires. Donors must familiarize themselves with the IRS requirements for documenting their contributions, clarify the terms of the gift upfront, and seek professional advice from tax planners and appraisers.
How am I supposed to settle this estate? What do I do with all this stuff?
In the midst of the grief and chaos that surrounds someone's passing, the logistical challenges of estate sales can seem like even more of a burden. To be sure, selling the estate of a recently deceased family member or friend brings up some difficult memories – but the process doesn't have to be such a nightmare. These ten tips will help you with your legal and moral responsibilities, ensuring efficient administration, accurate appraisals and quick, profitable sales of any valuable personal property in the estate that you are managing.
How do you know which appraiser will provide you with the report that will be acceptable to your insurance company, your attorney, or your financial advisor? If you are an educated consumer, you will hire a USPAP-compliant appraiser and look to the report they produce and see if it complies with the Elements of a Correctly Prepared Appraisal.
It's tax season, and you may have donated valuable tangible property to a University, museum or other qualifying not-for-profit institution in 2012. If you are seeking a tax deduction for donations of tangible property, it's important to keep these four things in mind when preparing your returns.