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What is the Value of Illegal Art?

When New York art dealer Ileana Sonnabend passed away in 2007 her children inherited an art collection valued at about 1 billion dollars.  One of the pieces, “Canyon” by 20th century artist Robert Rauschenberg included a portion of a stuffed bald eagle.  Due to the 1940 Bald and Golden Eagle Protection Act and the 1918 […]

Kennedy Trust Gets New Trustee – Remember to Amend Trust When Divorcing

Taylor Swift is dating barely legal Conor Kennedy.  Conor Kennedy is the son of Mary Richardson Kennedy who was married to Robert Kennedy Jr.  Robert Kennedy Jr. was one of Bobby and Ethel Kennedy’s 11 children.  Mary Richardson Kennedy, who was suffering from alcoholism and depression and in the midst of a messy divorce hanged […]

GRATs Are Still Great

Susan Share In the immortal complaint of one of Jane Austen characters,“People always live forever when there’s an annuity to be paid them.”  From Sense and Sensibility, 1811. But you can enjoy substantial benefits from short-term annuities as well. Since the early 1990’s, estate planners have implemented GRATs, Grantor Retained Annuity Trusts, for our wealthy […]