"Unique Personal Property Issues"


I. Introduction

II. Types of Property

   A. What is "property"?

   B. What is tangible personal property?

   C. What is intangible personal property?

III. Methods of Transfer

   A. Sale

   B. Gift

   C. Bequests

   D. Other Issues Related to Bequests

   E. Putting It All Together

IV. Issues In Administration

   A. Is it an asset of the Estate?

   B. Is Probate necessary in Illinois?

   C. Adverse Possession of Personal Property

   D. Operating Decedent's Business Interest

   E. Dealing with Desperate Personal Estate of Decedent

V. Tax Implications Related to the Transfer of Tangible Personal Property

   A. Tax Implications of a Sale

   B. Tax Implications of a Gift of Tangible Personal Property

   C. Tax Implications of Distributing Tangible Personal Property at Death

VI. Unique Assets and Issues Regarding Transfers

   A. Pets

   B. Discounts for Gifts of Artwork

   C. Literary Materials and Copyrights

   D. Collections

For a complimentary copy of this presentation, please contact Jonathan Michael at jmichael@burkelaw.com


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