Using Remainder Purchase Marital Trusts to Transfer Works of Art

Volume 27 No. 3

By

Michael Duffy is a member of the Goldman Sachs Strategic Wealth Advisory Team of Goldman Sachs Private Wealth at Goldman Sachs & Co. in Atlanta, Georgia, and a member of the ABA LGBT community.

Art collectors routinely ask their tax advisors about strategies that will allow them to make inter vivos completed gifts of some or all of their artwork to remove the art from their taxable estates while at the same time permitting them to retain possession of the art until a later date—which they most often describe as “until the death of the surviving spouse.”

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