The New York Times recently published an article entitled, “Estate Planning can get tricky when art is concerned.” The focus is for international art investors, but there are some key takeaways worth noting:

1. Art’s value factors in – and having it appraised as low as possible can help with a tax bill.
2. Think about who in your family would best appreciate the art! You don’t want your favorite pieces going to somebody who may put them in a box and leave them in the attic. Have conversations with family and friends to determine people’s art tastes.
3. Estate planning advisers like us can help think through all of the laws related to a transfer of ownership.

For any art-related questions with your will, contact us and we’ll be happy to help!