Trusts and Estates > Briefing > Art Donors And Museums Rejoice

Sep 1, 2009 12:00 PM

Art Donors And Museums Rejoice

, By David T. Leibell & Daniel L. Daniels, partners in the New York and Stamford, Conn., office of Wig

By David T. Leibell & Daniel L. Daniels, partners in the New York and Stamford, Conn., office of Wig

It looks like fractional interest gifts of art will be a viable strategy for the wealthy once again.

On Aug. 6, 2009, Senator Charles Schumer (D. New York) introduced Senate Bill 1605 to restore many, but not all, of the tax benefits of fractional gifts of art and collectibles to charity that were wiped out by the Pension Protection Act of 2006 (PPA). Senate Bill 1605 is likely to become law, as it represents a compromise with Senator Charles Grassley (R. Iowa) — the architect of the 2006 effort to effectively nix fractional gifts.

Sign in to
view the full article



Remember Me

* Forgot Username/Password?

* Magazine Subscribers Get Your Login

Not a subscriber?

  • Subscribe & Save

    Get immediate access to Trust & Estates online

  • Subscriber Benefits

    Learn more about Trust & Estates magazine, online article access and our free enewsletters.

Wealth Watch E-Letter Subscribe

Fate of Famed Art Collection Unresolved

By David Thayne Leibell, partner in the Stamford, Conn. and New York City offices of Wiggin and Dana LLP

Tennessee Chancery Court temporarily blocks the sale by financially strapped college of a 50 percent interest to a Walmart heiress’ new museum...

Fate of Famed Art Collection Unresolved

View Past Wealth Watch E-letters...

Bookstore / Library

Tech E-Letter Subscribe

Gsphere

By Donald H. Kelley

Comprehensive analysis of investment diversification...

VestingPoint.com’s Retirement Calculator

By Donald H. Kelley

Evaluate retirement projections with this online tool...

View Past Technology Review Newsletters

Past Issues

  • August Issue
  • July Issue
  • June Issue
  • May Issue
  • April Issue
  • March Issue
  • February Issue

Podcasts

Advising the Wealthy: It's a Whole New Game

Charlie Ratner talks with estate-planning expert Lou Harrison, investment guru Michael Lewitt and retirement benefits specialist Mike Jones. Register for this timely podcast......

More Podcasts...

Webinars

Roth IRA Conversions - The Critical Issues

Whether you are a tax professional, estate planner or financial advisor, it is important that you are well-equipped to effectively advise clients regarding Roth IRA conversions. -
Available On Demand!...

Aligning Charitable Giving & Life Insurance

Register for this complimentary webinar on 3/9/10 - Charitable giving is under great stress. The Association for Advanced Life Underwriting (AALU), the American College, and the Partnership for Philanthropic Planning (PPP) are rising to address this challenge. You will hear from Tanya Howe Johnson, President & CEO of the PPP, Kelly Kidwell, President & CEO of Pacific Advisors and Chairman of the AALU Charitable Planning Committee, and Phil Cubeta, the Sallie B. and William B. Wallace Chair in Philanthropy at the American College....

Integrative Philanthropy

Robert F. Sharpe, Jr. and Marc D. Hoffman describe the current philanthropic/political landscape and review the techniques that donors of means are now increasingly using to optimize their giving.
Available On Demand!...

More Webinars...

Press Releases

Press Releases

Advising the Wealthy: It's a Whole New Game

Charlie Ratner talks with estate-planning expert Lou Harrison, investment guru Michael Lewitt and retirement benefits specialist Mike Jones. Register for this timely podcast......

More Press Releases...