Art Collectors Discover Irrevocable Trusts

THE WALL STREET JOURNAL | Daniel Grant:

A common estate-planning tool, the irrevocable trust, is increasingly being used for an uncommon purpose: It allows art owners to reap tax savings by transferring ownership of their paintings or other collectible objects, but keep possession so they can still enjoy them… Read more

Image: Property placed in an irrevocable trust, including artwork, no longer is legally part of an estate, which reduces the value of the estate for tax purposes: iStockphoto/Getty Images

2018-10-23T18:09:55+00:00