The Thriving Artist Podcast

Jim Grace is an attorney for the arts, and Executive Director of the Arts & Business Council of Greater Boston. One of their major programs is Volunteer Lawyers for the Arts of Mass., which does free legal services for the arts including seminars on legal topics. Jim is also co-author of the Joan Mitchell Foundation's workbook on estate planning for artists. In this episode of the Thriving Artist Podcast, Jim provides insights for art collectors and artists on estate planning. It's OK to suffer for our art, but we don't want it to make others suffer. Some of the topics we must consider include:The importance of estate planning for visual artistsHealthcare proxies, living wills, and powers of attorneyGoals, options, and tools - not letting the tail wag the dogOptions for supporting causesArtist endowed foundationsWhat happens to your collection?Valuation of your art, including unfinished works in your inventory, formal appraisal, and tax consequencesWhat happens to your unfinished work?What about your