Art

Analog Art, Analog Assets

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For my last blog post, I discussed the potential financial value of an individual’s “personalty” and clauses in wills governing such personalty. While an individual’s more traditional assets may include bank accounts, real estate or vehicles, there may also be some other personal items (e.g. collections) that may have significant financial value for an estate. I’d like to discuss “physical” assets a bit more, this time focusing on assets they….

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Estate Administration, Estate Planning, Uncategorized, valuation

The National Gallery of Canada’s Purpose

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[caption id="attachment_5336" align="alignleft" width="300"] New Indigenous and Canadian Galleries at the National Gallery of Canada, Courtesy of The Globe and Mail[/caption] At the recent opening of the new Indigenous and Canadian Art Galleries at the National Gallery of Canada (NGC), Director Marc Mayer made a fascinating throwaway comment. Due to the inclusion of historical objects and artifacts made by Canadian indigenous people NGC had to redraft its legal purposes.  In….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Deaccessioning Donations of Art

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Deaccession. It’s a word that brings chills to donors and would-be donors of art to public galleries.   The ingratitude.   The betrayal.  How can they sell my gift, my art?!  To deaccession is, in conventional curatorial thinking, to break trust with donors.  It chases them away. In the spirit of pragmatism, most museums and galleries rule out selling works from their collection. It becomes a matter of policy.   “We never sell….

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Estate Planning, Philanthropy/Charitable Giving

Estate Donations of Art

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Fine art is an asset class that has been growing in importance among the affluent and is beginning to be a significant part of certain estate plans.   One estimate pegged the international art market at €51 billion in 2014, and Canada has seen record prices at auction.   Many collectors are contemplating donating their art at death, but the process has its challenges. The top-of-mind recipients of art are galleries and….

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Charitable Giving, Estate Donations, Estate Planning, Philanthropy/Charitable Giving
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