Recently, Volkova Law Group PLLC presented on the topic of Estate Planning For The Visual Artist and we have the podcast for you here!
Click on the player above to listen to the podcast and to see the full notes from this informative presentation, view the powerpoint here: Estate Planning for the Visual Artist
- What you own as a visual artist
- How artists should protect it
- How artists transfer it either during their life or upon their death
- Create an Artistic Legacy
- Take inventory of artwork and how to value it.
- Protect Artwork as Intellectual Property (Copyright and Trademark)
- Last Will and Testament (“Will”)
- Testamentary Trusts
- Power of Attorney
- Health Care Proxy
- Living Will
- Having an estate plan in place brings peace of mind.
- The time cost is minimal: about 3-4 hours if you are working with an attorney.
- If you have elderly people in your family, have them create a Health Care Proxy and Power of Attorney because otherwise families could face huge expenses in getting guardians appointed.
- Don’t over think it, just get something together: you can always revise and revisit.
2 thoughts on “Estate Planning For the Visual Artist”
I would like to plan my estate. You never know when it’s your time and I would like to have my home go to my family, along with my possessions. Also, as you said an estate plan brings you a peace of mind. Right now, I could use that. I’m going out of the country and if anything happens I want my estate to go to my family.
Hello Kiara, There’s no time like the present to plan your estate, and the fact that you are thinking about this says that now is the time. We have some resources available on our website, but Jim Grace’s podcast will provide the most insight into estate planning for artists and collectors. Let us know if that helps, but also stay in touch!