Collectibles have different values depending on who collected them, who owns them and who wants them.
In this episode, David Lenok, senior editor at WealthManagement.com, talks again with Sarah McDaniel, a CFA and Head of Family Office Resources Generalists, Head of Wealth & Estate Planning Strategists and Head of Art Resource Team (ART) at Morgan Stanley. Together, they discuss estate planning for collectibles. David and Sarah explore the case of actor Billie Lourd, who not only inherited a bulk of her late mother, Carrie Fisher’s, and grandmother Debbie Reynolds’ estates but also their large collections of Hollywood memorabilia.
Billie Lourd, Debbie Reynolds and Carrie Fisher
In this episode, you will learn:
- The story behind the building and selling of Debbie Reynolds’ and Carrie Fisher’s memorabilia collections;
- What issues clients face when planning for collectibles or passion assets;
- How capital gains tax can affect the selling of collections;
- Examples of how price permanence varies across collectibles;
- What to consider before leaving collectibles to a museum;
- And more!
Alberto E. Rodriguez/Getty Images Entertainment/Getty Images
Learn how to help your clients plan for their collectibles!
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The Celebrity Estates: Wills of the Rich and Famous podcast is available on Apple Podcasts, Android, Stitcher and wherever podcasts are found.