[WSBAPT] Artistic Assets

[John Creahan]

Hi Marilyn,
What is the appraisal's purpose? Is he concerned about estate tax? Does he want to start gifting, either charitable or not? Or is he just curious?
He will need a qualified appraisal if he wants to use the values for tax purposes, but bear in mind that values could change significantly between now and his death, depending on his age and health. Also, it is unlikely that he can get a fair market value charitable deduction if he makes charitable donations of his artwork during life.
Feel free to contact me off list if this doesn't make sense.
Hope this helps,
John

John Creahan
Cairn Law, PLLC
206-621-5848
Sent from my phone
________________________________
From: Marilyn J Kliman Law<mailto:marilyn at marilynjklimanlaw.com>
Sent: ‎1/‎24/‎2017 3:44 PM
To: 'WSBA Probate & Trust Listserv'<mailto:wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Artistic Assets

Folks –

Estate planning client is a retired, published nature photographer.  Any advice as to how to come up with a ballpark assessment on his massive quantity of photos/negatives/transparencies/digital files?  My understanding is that this kind of assessment may be as much of an art as the product itself!

Client was recently divorced and paid ex-spouse a specific amount to keep 100% of the rights, but not sure that would hold up to a challenge.

Thanks for any insights …

Marilyn


Marilyn J. Kliman, Attorney at Law
Marilyn J. Kliman Law, PLLC
510 Bell Street
Edmonds, WA 98020
206.499.0993<tel:206.499.0993>
Marilyn at MarilynJKlimanLaw.com<mailto:Marilyn at MarilynJKlimanLaw.com>
www.MarilynJKlimanLaw.com<http://www.marilynjklimanlaw.com/>
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