Potential game changer for family transfer of Art

Nov 4, 2014 | Wealth Management

Partial ownership of art has historically not been granted valuation discounts for estate tax purposes such as those enjoyed by Family Limited Partnerships. However, this recent case detailed in the New York Times may change how ownership of art is structured for wealthy families as this family was able to attain substantial partial ownership valuation discounts for estate tax reasons on the family art collection.

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