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Art and Antiques Collectors Learn the Art of Powergifting
Purchase, NY
Tuesday, October 23, 2007
FOR IMMEDIATE RELEASE
Contact:
T.K. Hall
Public Relations, Ictus Initiative
617-717-8294
TK@IctusInitiative.com
ART AND ANTIQUES COLLECTORS LEARN THE ART OF POWERGIFTING
Noted Art Succession Planner Shares Strategies on Philanthropy
NEW YORK. Oct. 23, 2007 – At a presentation for art collectors and benefactors of the Strang Cancer Prevention Center at the National Arts Club Oct. 23 and 24, Michael Mendelsohn of Briddge Art Strategies, Ltd., will inform attendees that their art collections are unique assets which can benefit the collector's favorite charity while maximizing the value of the other assets in their estate.
"With creative use of legal and financial vehicles your advisors already employ in their practices every day, you can significantly enhance the impact of your philanthropic giving using your collection," said Michael Mendelsohn, author of Life is Short, Art is Long: Maximizing Estate Planning Strategies for Collectors of Art, Antiques, and Collectibles. "Using our unique PowerGifting strategies, your professional advisory team can help you leverage tax benefits, create a charitable legacy, and even maximize your charitable contributions while simultaneously giving more to your children"
A leading art succession planning expert, Mendelsohn points out that there are a number of different strategies that collectors can use to benefit charitable organizations and causes depending on an individual's intentions and the qualifications of the receiving organization. In his presentation, Mendelsohn will outline the differences between gifting options such as charitable remainder trusts, bargain sales, endowment gifting, as well as the requirements and framework for tax deductions.
If a collector fails to plan correctly during their lifetime, they face unfavorable tax consequences and the significant loss of a collections maximum value. Mendelsohn will also show the audience innovative solutions collectors and advisors can use to help collectors borrow against pieces in their collections to help charities, in addition to solving issues of liquidity, loss of value at auction, and fair distribution to their heirs.
Many collectors fail to plan for their art during their lifetime, Mendelsohn points out. However, working with an advisory team to create an art succession plan can build philanthropic capital, create more money for their kids, tax savings, and gallery naming opportunities.
"Philanthropy, if properly structured along with other strategies, benefits institutions, the collector, and the collector's family. It's a way to leave an art legacy and also give to the greater good," says Mendelsohn. "To be fully beneficial to all parties, collectors and their advisors need to know which gifting strategy is best for them"
The event for the Strang Cancer Prevention Center is being held at the National Arts Club at 15 Gramercy Park in New York City. The Strang Center is the oldest cancer prevention institute in continuous operation in the United States. As part of its work as a non-profit diagnostic and research center, Strang has developed medical and research programs designed to prevent cancer and to detect, diagnose, and cure it in its early stages. Countless lives have been saved throughout the world by these contributions to public health. To reserve a seat for the program, contact Annette Pauly at 914-393-9514 or Annette@BriddgeArtStrategies.com
About Michael Mendelsohn
Michael Mendelsohn is Founder and President of Briddge Art Strategies Ltd., the premier art succession planning firm in the country. He is an art collector, philanthropist, lecturer, and writer on inheritance planning and preservation of assets. Michael's innovative inheritance planning strategies for art and antiques assets have been featured in Trusts and Estates magazine and the newsletter of the Philadelphia Estate Planning Council. Michael has been quoted in articles in The Wall Street Journal, The Financial Times, Business Week, Forbes magazine, and Worth magazine. He is the author of Life is Short, Art is Long – Maximizing Estate Planning Strategies for Collectors of Art, Antiques and Collectibles (Wealth Management Press 2007). He is a frequent continuing education presenter on lifetime and postmortem planning strategies with a background in accounting, taxation, and philanthropic studies.
As philanthropists, Michael and his wife Gael have gifted select pieces to the Museum of American Folk Art, the Philadelphia Museum of Art, the Milwaukee Museum, the Smithsonian Institution, and the High Museum of Art. Michael is a highly regarded speaker on the artistic, tax-planning, and philanthropic needs of collectors and has given presentations at the Smithsonian American Art Museum, Philadelphia Museum of Fine Art, Bank of America, U.S. Trust, Museum Trustee Association, Estate Planning Council of Philadelphia, New York State Society of CPAs, among others.
Michael formed Briddge Art Strategies Ltd. to create innovative family philanthropic opportunities, help fellow collectors become aware of their ability to keep collections intact, and advocate with collectors and their advisors to develop more tax efficient art distributions to heirs and art-related institutions. The successful application of this strategy to their own private collection is a key reason why Michael and Gael were recognized by Art & Antiques as one of America's Top 100 Collectors.
More information about Michael Mendelsohn and Briddge Art Strategies Ltd. is available at www.BriddgeArtStrategies.com or call 800-216-3852. To contact Michael, call or email T.K. Hall at 617-717-8294 or TK@IctusInitiative.com.
###
Contact:
T.K. Hall
Public Relations, Ictus Initiative
617-717-8294
TK@IctusInitiative.com
Noted Art Succession Planner Shares Strategies on Philanthropy
NEW YORK. Oct. 23, 2007 – At a presentation for art collectors and benefactors of the Strang Cancer Prevention Center at the National Arts Club Oct. 23 and 24, Michael Mendelsohn of Briddge Art Strategies, Ltd., will inform attendees that their art collections are unique assets which can benefit the collector's favorite charity while maximizing the value of the other assets in their estate.
"With creative use of legal and financial vehicles your advisors already employ in their practices every day, you can significantly enhance the impact of your philanthropic giving using your collection," said Michael Mendelsohn, author of Life is Short, Art is Long: Maximizing Estate Planning Strategies for Collectors of Art, Antiques, and Collectibles. "Using our unique PowerGifting strategies, your professional advisory team can help you leverage tax benefits, create a charitable legacy, and even maximize your charitable contributions while simultaneously giving more to your children"
A leading art succession planning expert, Mendelsohn points out that there are a number of different strategies that collectors can use to benefit charitable organizations and causes depending on an individual's intentions and the qualifications of the receiving organization. In his presentation, Mendelsohn will outline the differences between gifting options such as charitable remainder trusts, bargain sales, endowment gifting, as well as the requirements and framework for tax deductions.
If a collector fails to plan correctly during their lifetime, they face unfavorable tax consequences and the significant loss of a collections maximum value. Mendelsohn will also show the audience innovative solutions collectors and advisors can use to help collectors borrow against pieces in their collections to help charities, in addition to solving issues of liquidity, loss of value at auction, and fair distribution to their heirs.
Many collectors fail to plan for their art during their lifetime, Mendelsohn points out. However, working with an advisory team to create an art succession plan can build philanthropic capital, create more money for their kids, tax savings, and gallery naming opportunities.
"Philanthropy, if properly structured along with other strategies, benefits institutions, the collector, and the collector's family. It's a way to leave an art legacy and also give to the greater good," says Mendelsohn. "To be fully beneficial to all parties, collectors and their advisors need to know which gifting strategy is best for them"
The event for the Strang Cancer Prevention Center is being held at the National Arts Club at 15 Gramercy Park in New York City. The Strang Center is the oldest cancer prevention institute in continuous operation in the United States. As part of its work as a non-profit diagnostic and research center, Strang has developed medical and research programs designed to prevent cancer and to detect, diagnose, and cure it in its early stages. Countless lives have been saved throughout the world by these contributions to public health. To reserve a seat for the program, contact Annette Pauly at 914-393-9514 or Annette@BriddgeArtStrategies.com
About Michael Mendelsohn
Michael Mendelsohn is Founder and President of Briddge Art Strategies Ltd., the premier art succession planning firm in the country. He is an art collector, philanthropist, lecturer, and writer on inheritance planning and preservation of assets. Michael's innovative inheritance planning strategies for art and antiques assets have been featured in Trusts and Estates magazine and the newsletter of the Philadelphia Estate Planning Council. Michael has been quoted in articles in The Wall Street Journal, The Financial Times, Business Week, Forbes magazine, and Worth magazine. He is the author of Life is Short, Art is Long – Maximizing Estate Planning Strategies for Collectors of Art, Antiques and Collectibles (Wealth Management Press 2007). He is a frequent continuing education presenter on lifetime and postmortem planning strategies with a background in accounting, taxation, and philanthropic studies.
As philanthropists, Michael and his wife Gael have gifted select pieces to the Museum of American Folk Art, the Philadelphia Museum of Art, the Milwaukee Museum, the Smithsonian Institution, and the High Museum of Art. Michael is a highly regarded speaker on the artistic, tax-planning, and philanthropic needs of collectors and has given presentations at the Smithsonian American Art Museum, Philadelphia Museum of Fine Art, Bank of America, U.S. Trust, Museum Trustee Association, Estate Planning Council of Philadelphia, New York State Society of CPAs, among others.
Michael formed Briddge Art Strategies Ltd. to create innovative family philanthropic opportunities, help fellow collectors become aware of their ability to keep collections intact, and advocate with collectors and their advisors to develop more tax efficient art distributions to heirs and art-related institutions. The successful application of this strategy to their own private collection is a key reason why Michael and Gael were recognized by Art & Antiques as one of America's Top 100 Collectors.
More information about Michael Mendelsohn and Briddge Art Strategies Ltd. is available at www.BriddgeArtStrategies.com or call 800-216-3852. To contact Michael, call or email T.K. Hall at 617-717-8294 or TK@IctusInitiative.com.
Paige Stover Haque
Senior VP of Marketing & Media
Briddge Art Strategies Ltd.
Boston, MA
617-230-2167
First Url: Briddge Art Strategies
