CASE STUDY: VALUING ART COLLECTIONS
An estate audit holds lessons on valuation discounts of art collections namely that the appraisal should be done in a manner to shift the burden of proof on the valuation to the Service, that Blockage and Liquidity discounts are the traditional discounting methods for art collections, that lack of clear title is a newer method of discounting, and that there are advantages to restructuring the ownership of the collection into an LLC during the administration of the estate.
An estate audit holds lessons on valuation discounts of art collections namely that the appraisal should be done in a manner to shift the burden of proof on the valuation to the Service, that Blockage and Liquidity discounts are the traditional discounting methods for art collections, that lack of clear title is a newer method of discounting, and that there are advantages to restructuring the ownership of the collection into an LLC during the administration of the estate.
An estate audit holds lessons on valuation discounts of art collections namely that the appraisal should be done in a manner to shift the burden of proof on the valuation to the Service, that Blockage and Liquidity discounts are the traditional discounting methods for art collections, that lack of clear title is a newer method of discounting, and that there are advantages to restructuring the ownership of the collection into an LLC during the administration of the estate.
8 pages
Includes Checklist
