Are you a collector? Whether it is contemporary art, 19th century furniture, first edition books, or comics, your collection should be included in your estate plan. To learn more about the issues surrounding planning and maintaining your collection, I’d recommend the book Life is Short, Art is Long: Maximizing Estate Planning Strategies for Collectors of Art, Antiques, and Collectibles by Michael Mendelsohn & Paige Stover Hagu.
Recently I wrote a review of the book for the Wisconsin Lawyer Magazine. Aimed at the collector instead of the estate planning attorney, the book discusses many issues, including heirs removing items before probate is finished, benefits of donating pieces to a museum, and the importance of appraisal.
As a collector, you obviously have a passion for a certain genre. Through a little planning and effort, you can make sure that passion lives on beyond you.
Monday, July 21, 2008
Art, Antiques, and Collectibles
Melinda Gustafson Gervasi is a Madison attorney and author whose current practice focuses on estate planning and probate. She is committed to increasing the public’s understanding of estate planning and probate issues. In 2013 she released her first book, Middle Class Philanthropist where she illustrates how anyone can leave a legacy. Gustafson Gervasi Law Office, LLC, 5555 Odana Rd., Suite 205, Madison, WI 53719
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