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 http://joanmitchellfoundation.org/ (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 artists
Healthcare proxies, living wills, and powers of attorney
Goals, options, and tools - not letting the tail wag the dog
Options for supporting causes
Artist endowed http://www.aspeninstitute.org/policy-work/nonprofit-philanthropy/artist-endowed-foundations (foundations)
What happens to your collection?
Valuation of your art, including unfinished works in your inventory, formal appraisal, and tax consequences
What happens to your unfinished work?
What about your collection of fellow artists' work?
Representation (agents, galleries, and dealers)
Document archives (image licenses, releases, gallery consignment contracts)
ARTWORK ARCHIVE (tracking inventory, cataloging collections)
Planning for maintenance, storage, conservation, and distribution of works & supplies
Getting approval from donee organizations
Rights and joint authorship / collaborators
Copyright is your life + 70 years
Legal services for artists via local http://artsandbusinesscouncil.org (arts and business councils)
Collaborative space for organizations and artists
Hitchcockian bird attacks

Listen now, or download and take this 47-minute episode with you on your phone or mobile device.
If you’re a working artist, feel free to visit our http://clarkhulingsfund.org/grants/ (Grants page). If you’re an arts industry professional, collector, or business specialist, or a working artist who would like to be interviewed, visit our http://clarkhulingsfund.org/teach-learn/ (Teach and Learn) page. As always, even a modest donation is meaningful; and that page is http://clarkhulingsfund.org/donate/ (here).