About This Course
This CLE program will discuss best practices for managing and valuing tangible personal property in trusts and estates. The program will cover a variety of different kinds of property including motor cars, jewelry, rare books and fine art and give an overview on the following topics:
- Appraisals values and purposes
- IRS-defined qualified appraisers and qualified appraisals
- IRS Art Advisory Panel
- Factors affecting valuation (and past examples)
- Regulated materials
- Authenticity
- Title/provenance
- Blockage discount
- Fractional interest
- Recent tax cases (Newberger and Kollsman)
- Implications of the Tax Cuts and Jobs Act