Fiduciary Trust International
By Brian Conboy
February 19th, 2025
From hobby to investment: How to plan for collectibles in your estate
Collectibles are often the most valuable assets in an estate. What starts out as a hobby turns into a passion and eventually becomes a lucrative investment, built gradually over a lifetime. The best way to preserve the value of your investment, both for yourself today and for your heirs in the future, is to start planning today.
Avoid a fire sale: Don’t let taxes catch your heirs by surprise! If you plan to leave a highly valued collection to family members or other heirs, advanced tax planning is strongly recommended.
Without a strategy, part or all of your collection might have to be sold quickly, at less than fair market value, to cover estate tax obligations. This may have unfortunate consequences, including the possibility of an inequitable allocation of assets for your heirs.
