Intelligence

What You Need to Know About Inheriting Art

I want to hear from certified financial planners, art appraisers, etc., especially from Long Island and the NYC metro area. If you should have the good fortune of inheriting a piece of art, what are some essential things to know? For example, what are any tax implications, any insurance issues, potential challenges/problems and resolutions? What are some mistakes to avoid, what do people sometimes misunderstand.