"I was delighted by Michael's presentation. I did not fully comprehend how desperately I needed to be planning for my collection in order to preserve its value and plan for the future so it stays together and the integrity of the collection can be preserved. I am currently considering the sale of a highly appreciated work and it is obvious that I need a trust strategy to avoid a loss of almost a third of the sales proceeds to capital gains taxes."
- Norma Roth, Top 100 Collector, Art & Antiques
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Services for Collectors
When working with collectors:
If you are a collector, it is very likely that you are missing out on approved IRS tax benefits available to you if you have not planned for the disposition of your assets during your lifetime. Depending on the value of your collection, these "hidden" tax benefits could create additional value for your estate, be used for current gifting to your loved ones, or create much needed philanthropic capital for your preferred charities.
Collectors who work with Briddge Art Strategies are able to maximize the financial benefits of owning a great collection. Our staff is comprised of planning specialists who own art and collectibles and understand the business from the canvas to the auction hammer. We can help you and your team of advisors design an art succession plan that could significantly reduce your estate and capital gains taxes and optimize the value of your collection.
At Briddge, we can also show you how to create immediate cash flow by either gifting some of the art objects that may no longer fit into your vision and collection or by using the art as collateral for a loan. We can work in full partnership with your preferred team of professional advisors to mitigate complex planning issues and simplify the generational transfer of art using a four-step process:
- Discovery Evaluation: Inventory your collection and create a record of its history and value by bringing your family members into the planning process.
- Collection Assessment: Individually analyze the pieces in your collection to identify items that could be sold, gifted, or used as collateral in order to create income or operating capital using our signature three-tiered system.
- Define Plan Options: Articulate your specific intentions for each piece in the collection, and work with your advisory team to create the legal and financial framework necessary to accomplish these objectives and integrate your art and antique assets into your overall estate plan.
- Plan Execution: Implement a specific course of action that satisfies your intentions so that you are leveraging the things you love to support the causes you care the most about, reducing your tax liability, and leaving a meaningful inheritance to the people who matter most to you.
Services for Advisors
Services for Charities
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"Mendelsohn's insights are an eye-opener for collectors as we sort through the many wonderful and creative options available to us for the disposition of our art."
- Richard Rubenstein, President, Rubenstein Public Relations
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