I thought this article was informative and a nice change from the usual. I like that while the writer focuses on art, the article also makes you think about what collections you might have and how they will be handled at your death. The message of the article can relate to any type of valuable collection one might have, whether that is sentimental or monetary value. It’s always best to appraise collections you may think are monetarily valuable and to designate beneficiaries of any collection whether it’s given away whole or in part. Designating beneficiaries will minimize or even eliminate family disharmony at your death. Some people may think their collections are not worth much or that nobody would want them, but in any event, it is better to plan and be safe than sorry! With that said, I better work on designating some beneficiaries for my “prized” collections!
As always, if you have questions about your assets (including your art collection!) give us a call at (650) 463-1550 or schedule an appointment online.
