I. NON-CHARITABLE TRANSFERS DURING LIFE
Art is particularly well-suited for charitable transfers if the circumstances fit, but not all collectors or artists want to leave their art to a charitable organization. In order to understand the different ramifications of transfers of art during life and why it may be preferable to wait for death to make the transfer, it is important to first understand the income tax rules particular to art.
Please see full white paper below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Topics: Art, Capital Gains, Charitable Donations, Charitable Remainder Trust, Copyright, Estate Planning, Fair Market Value, Flip CRUT, Forgery, Pension Protection Act of 2006, Private Foundations, Split-Interest Charitable Trusts, Termination
Published In: Art, Entertainment & Sports Updates, Nonprofits Updates, Wills, Trusts, & Estate Planning Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Venable LLP | Attorney Advertising