Home      Login

Abstract: 

Like other taxpayers, collectors can’t “take it with them.” But after death, the tax authorities might indeed “take it.” There are a number of strategies individual collectors should consider when planning what will happen to their art or other collections once they are no longer around. With careful planning, collectors can make sure a collection is maintained—while also ensuring the best possible financial result for their heirs and for the charities they support.

Keywords: art and other collectibles; charitable gifts; income tax, estate tax, like-kind exchange; “dealer”; “collector”; related-use rule; annual exclusion

Affiliations:  1: Horwood Marcus & Berk Chartered.