The New York Times has published an extended account of the recent ruling on the case regarding the inheritance of James A. Elkins, a collector whose works were held jointly by various members of his family.  The ruling, announced earlier this fall, allowed a discounted estate tax on these works, fundamentally changing the way taxes can be levied on art in a collector’s estate.  “I’ve had calls from estate planning attorneys that said they celebrated in the coffee room when this decision came out,” says Carsten Hoffmann, managing director at FMV Opinions. “This is a deal changer.” 

Read more at New York Times

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