Family, Fiduciaries and Foundations: How artists and collectors can best preserve the fruit of their labors
This panel discussion with a curator, estate planner and former director of an artist's foundation will address the common issues and questions that artists, photographers and collectors needs to consider when planning their estate and artistic legacy.
Managing an estate can be overwhelming and the range of skills required in managing an artist’s estate is staggering. In either situation, the executor, whether they are a spouse, other family member, or chosen representative, need to understand what it is they’ve inherited and how things need to be handled in order to transfer the assets and settle the estate (i.e., estate taxes). In addition to the physical artwork, there may be issues related to copyright and intellectual property rights. Needless to say, it can be a confusing and overwhelming assignment. This panel will address the common issues and questions that an artist, photographer &/or collector need to consider when planning their estate, to mitigate obstacles and ensure a smooth transition of artwork and the archive when they’re gone.
Topics to be addressed:
- Choosing an executor, an attorney, and an accountant.
- What are your goals? Do you want the art to go to family & friends? Does the estate need to avoid taxes?
- Would the greatest benefit be to give the artwork to a museum? Are you considering setting up a trust or establishing a foundation?
- The importance of conversations and informing others of your wishes.
- Inventory and record keeping.
- Copyright and future use and licensing of images.
The goal of the presentation is to provide artists, photographers and collectors with the information needed to make informed decisions about next steps and where to get help in the process of planning.
Joel A. Harris - Estate Planning, Trust & Probate Attorney
Jennifer McFarland - former director, Pirkle Jones Foundation
Jack Von Euw - Curator, Pictorial Collections - Bancroft Library at the University of California, Berkeley
Moderator: Jennifer Stoots, Certified Photography Appraiser — Stoots, LLC, Portland, OR
If you are a commercially successful artist with gallery representation, a fine art or freelance photographer, or an art collector who owns 10 pieces or hundreds of artworks, “a carefully planned estate can help insure that your work and ideas will continue to be presented as you wish.”
Lecture Cost: $20.00
Tuesday, January 31st, 7-8:30PM