The forward by James L. Halperin is both entertaining and insightful. The book will be a useful source of information for anyone with a collection - to learn how to catalogue and maintain records and for those who have inherited a collection (whether valuable or sentimental).
Some of the chapters of particular interest include : Estate Planning for Your Collectibles, All in the Family and Division of Assets.
And one point in the book made by the authors:
“We strongly recommend that, after studying this information, you
engage the services of a competent legal professional, preferably an
attorney who is board-certified in estate planning and/or probate law
by your state, and a tax advisor, preferably a CPA. An experienced
and competent professional with expertise in life insurance should also
become a valuable part of your team of advisors.”
I could not have written that better myself.
For anyone who has inherited a potentially valuable collection – remember these basic principles:
Preserve and Protect the collection until decisions are made
Have the collection professionally valued
Consider the tax implications of any decision
The Collector’s Handbook 2016 10th edition James L. Halperin, Gregory J.Rohan with Mark Prendergast, Ivy Press Inc, Dallas, Texas
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