So, what are your favorite andmost valuable assets? Aside from your loved ones, you may turn to your stockportfolio, your business, or your real property. For some, however, theirfavorite and most valuable assets may be hanging on their walls.
If your art collection isimportant to you and your heirs, and truly valuable in and of itself, then itâ€™simportant to make proper plans to protect it.
In life we tend to limit ourrisks through various forms of insurance. Accordingly, when it comes to yourart, this issue was addressed in a recent Forbesarticle titled â€œShould Your Art Be Insured?â€ This isnot an easy question to resolve in every instance.
A previous article in Forbes explored another angle onpersonally-owned art. The article, titled â€œIs Art An Asset Or An Investment?,â€added another take on the world of such art. Remember: the value of your â€œartâ€is really whatever someone would be willing to pay for it.
If you have fine art or other items of great value you need to include it in your estate plan. Call Idaho Estate Planning today and we'll work with you to create the right estate plan for you and your family. Remember, good planning is no accident.