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The Value of Advice: Wealth Transfer Strategies for Art and other Passion Assets

Thursday, February 11, 2021

Join partner Daniel Cooper and Pall Mall Art Advisors for an in-depth panel discussion on wealth preservation and tax efficient strategies. Wealth transference and tax strategy is a hot topic of conversation in 2021 particularly when discussing passion assets such as art, jewelry, wine, cars and other valuable collections.

The panel will discuss the following questions and other key issues:

  • Should passion assets be transferred in an LLC or a trust?  
  • If the collector has philanthropic objectives, should a charitable trust be created or should the object(s) be donated directly to an institution? 
  • When is a rental leaseback situation preferred? 
  • What are the rules governing fractional gifts of art? 
  • Can passion assets be discounted? If so, when does this occur? 
  • When and how do you transfer passion assets out of your name?

Moderator

  • Colleen Boyle, Senior Vice President, Pall Mall Art Advisors

Panelists

  • Daniel Cooper, Partner, Morgan, Lewis & Bockius LLP
  • Anita Heriot, President, Pall Mall Art Advisors
  • James Volkman, Managing Director of Financial Valuation Services, Corporate Valuation Advisors