Handbook of Practical Planning for Art Collectors and Their Advisors

Ramsay H. Slugg (Autor)

Buch | Softcover

144 Seiten

2015
American Bar Association (Verlag)
978-1-62722-725-4 (ISBN)

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Art is an asset of passion, as author Ramsay H. Slugg begins this invaluable resource, yet it has unique and not unimportant financial characteristics. These elements make art possibly the most difficult asset to incorporate into an overall estate and financial plan. Handbook of Practical Planning for Art Collectors and Their Advisors addresses two essential elements of art ownership: planning for the ultimate disposition of the art, including how to represent the wealth represented by the art into any estate and financial planning, and the practical considerations for collectors as they collect and plan for the art's eventual disposition. After a brief discussion of the art market, the author introduces a client-focused process to use when advising art collectors. This includes explaining the income, estate and gift tax consequences of various options as well as the important and often emotional non-tax considerations of collecting and disposing of art. Particular attention is given to the charitable solutions available as these are often especially appealing to many collectors and their advisors.
In addition to enlightening case studies, Handbook of Practical Planning for Art Collectors and Their Advisors considers the roles of other advisors involved in these decisions. This guide is written to appeal to all levels of knowledge, and accessible not only to trusts and estates professionals, but also for the collectors themselves as well as the many other professionals involved, including art advisors, risk management advisors, valuation advisors, and financial planners.

Ramsay H. Slugg is a frequent author and speaker on topics related to wealth transfer planning, charitable planning, and planning with art and collectibles in particular. He currently resides in Fort Worth, Texas, home to at least four great art museums. He is an active member of the Real Property Trust and Estate Section of the American Bar Association, and is a past chair of its Charitable Planning and Organizations Group. He is also active in community affairs, and is a past recipient of the President's Volunteer Service Award. Mr. Slugg received his undergraduate degree from Wittenberg University (B.A., history, magna cum laude) and his Juris Doctorate from The Ohio State University. He practiced law in Ohio and Texas. He has previously served as an adjunct professor at both Texas Christian University and Texas Wesleyan (now A&M) University College of Law.

Part I: Before We Get Started Chapter 1: Introduction Some Definitions Chapter 2: World of Art The Planning Process Part 2: The Ancillaries Chapter 3: Risk Management Who Stole My Art? Inventories Chapter 4: Valuation Fair Market Value Appraisals and Appraisers What to File Valuation Penalties Best Practice Chapter 5: Provenance Is It Real? Chapter 6: Liquidity Art Lending Taxes and Related Expenses Estate Equalization Part 3: Planning Chapter 7: The Process Chapter 8: The Big Question A Word about Family" Chapter 9: SellingDuring Life Art of the Deal(er) Movin' on Up Does Art Always Increase in Value? Should I Be a Dealer Instead? How Do I Go about Selling a Piece or a Collection? Chapter 10: GiftingDuring Life Family Partnerships Trust Structures Chapter 11: DonatingDuring Life Related-Use Rule Partial Interest Rule Fractional Interest Rule Your Own Museum Private Operating Foundation Requirements Chapter 12: SellingAt Death Estate Administration Chapter 13: Gifting (Bequeathing)at Death Trust Structures Chapter 14: Donatingat Death Part 4: Putting It All Together Chapter 15: Additional Planning Examples My Required Disclaimer Chapter 16: Summary Resources General Reference Books General Reference Articles Interesting Reading/Just Plain Fun Index

Erscheint lt. Verlag	7.11.2015
Verlagsort	Chicago, IL
Sprache	englisch
Maße	149 x 231 mm
Gewicht	227 g
Themenwelt	Kunst / Musik / Theater ► Antiquitäten
	Recht / Steuern ► EU / Internationales Recht
	Recht / Steuern ► Wirtschaftsrecht ► Gesellschaftsrecht
	Wirtschaft ► Betriebswirtschaft / Management ► Planung / Organisation
ISBN-10	1-62722-725-3 / 1627227253
ISBN-13	978-1-62722-725-4 / 9781627227254
Zustand	Neuware