Valuables and Estate Planning: Do this NOW!
To anyone who has Art and collectibles and has NOT accounted for these valuables and your estate planning, read this article now and it’s entirety!
KEY TAKEAWAYS:
1) Talk with family now before problems can emerge
2) Create a personal property inventory
3) Talk with your tax advisor: there’s tax risk and there’s tax opportunity
4) Understand insurance, gaps, and inheritance
5) PROVENANCE: get documentation in order
6) Sell, Hold or Donate Items (you have heard this one from me before)
7) Select a qualified appraiser: what to look for -
and finally
8) Do it now. There is a cost to waiting!
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