AEPC September 2024 Membership Meeting

September 2024 Membership Meeting

Tuesday, September 17, 2024

Networking begins at 4:00 pm

Business meeting at 4:45 pm

Presentation at 5:00 pm

* Registration opens 30 days prior to meeting date *

Cautionary Tales: Navigating the World of Tangible Personal Property and Why Appraisals for Estate Planning Purposes Should be Part of Every Estate Plan Ahead of a Possible Sunsetting Estate Tax

Tim Luke, CAI, BAS, MPPA, ISSA-AM

Hindman Appraisals

Your client’s tangible personal property may seem minor in comparison to the rest of their estate. However, a client’s life is filled with tangible possessions, each holding memories, values, and potential pitfalls—which can create issues with the IRS, family disputes that lead to unnecessary and costly litigation, and may question your competency. This talk will delve into case studies of planning for personal property, as well as explore common missteps and offer insights for trust and estate planning professionals to navigate this often-complex landscape. We'll hear stories of sentimental treasures mistaken for trash, mass-produced replicas that are heirlooms and thought to be “priceless,” and collections gathering dust in legal limbo.  These cautionary tales will equip you with knowledge and best practices for outsourcing the best team for appraising, organizing, and handling tangible belongings.

Tim Luke has extensive background in the antique and collectibles field. Before becoming an independent consultant, he worked at Christie’s auction house in New York City as Director of the Collectibles Department. Tim is also the author of two books on the history and background of collecting. He is a member of the National Auctioneers Association achieving the designation of Master Personal Property Appraiser and is an Instructor for the Graduate Personal Property Appraiser program. He is president and co-owner of his own auction appraisal business, TreasureQuest Appraisal Group, Inc.