Are you are an art collector planning to sell your art or give some of it away during your lifetime (or make bequests upon your death)? If so, you should investigate obtaining an appraisal from a qualified art appraiser. If you plan to sell the art, you want a high appraisal, but a lower appraisal is desired if you plan to give it away upon your death. An appraisal may help establish a tax basis for your artwork. Feel free to contact us for a referral for an art appraiser or if you have questions about including your art in your estate plan.
- my Social Security: Have you created your online account?
- 2016 Estate and Gift Tax Exemption increases from $5.43 to $5.45 million per person