Sunday, July 29, 2012

Liquidity and marketability can cause estate tax nightmare

In the case reported in this link, a work of art is quite valuable but cannot be sold to pay the tax bill. This puts the heirs in a quandary.

http://www.foxnews.com/us/2012/07/24/irs-art-collection-heirs-hope-to-settle-bizarre-tax-dispute-over-canyon-collage/