What Benefits can be Achieved Through Art Succession Planning?

·         Organizing the collection in an historical reference catalogue to share with heirs, advisors and philanthropic institutions

·         Reducing current and future tax liabilities (income, capital gains, gift and estate)

·         Preventing the loss (in some cases of 75%) of the collection’s value from a poorly structured estate auction sale

·         Creating tax-preferred current cash flow from the collection for planning purposes

·         Optimizing and creating the proper timing for inter-generational wealth transfers to heirs

·         Creating fair and equal distribution to heirs based on valuation and sentiment

·         Eliminating family “art wars”

·         Creating and overseeing post-mortem solutions to maximize the value of the art holdings for the next generations

·         Creating planning which will allow the family to remain in control of the collection, now and into the future

·         When appropriate creating the “perfect” museum gift benefitting both the collection and the heirs

·         Creating and overseeing lasting philanthropic-based legacies

·         Utilizing the collection to create philanthropic capital for charities favored by the family

All rights reserved Michael Mendelsohn 2009