Donations and even inheritances can be complicated.
By Randy Fox
Ez Charitable
It is estimated that 30 percent of families with a net worth exceeding $10 million collect something – be it art, antiques or classic cars. Often referred to as “passionate assets,” they represent both a challenge and an opportunity for advisors and their clients.
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Many enthusiasts don’t think of their collectibles as they do other assets – these items are loved, cherished and coveted. They hold a meaning and identity that is incomparable to their economic value. They are often ignored in the planning process and in discussions with professional advisors.
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