
If your client has a significant art collection, you’ll likely need to work with different professionals to manage its disposition when the client dies. You may need to consult with an auction house, a fine arts broker or even a colleague who understands the tax implications of owning and selling artwork. We asked three professionals in each of these areas questions about what they’ve seen in their practices and the advice they would give to estate planning and financial professionals. Here are their responses.
Communication is Key
One issue that comes up a lot from the auction house perspective is communication between the client and her family about her wishes concerning the collection. Bonnie Brennan often sees this issue in her work at...
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