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Currently, the estate that Felicity and her husband have is worth more than $30 million. Felicity and her husband's primary residence is worth $2,850,000. They
Currently, the estate that Felicity and her husband have is worth more than $30 million. Felicity and her husband's primary residence is worth $2,850,000. They have a modern art painting collection worth $10,000,000. Their modern art collection is appreciating rapidly due to the public's current desire to see artwork by one of the artists. All of their other assets are cash. They live frugally and do not have a lot of material possessionsFelicity asked you if there are any tax planning strategies she can take advantage of for anyone she may be making a taxable gift to. Please advise Felicity on tax planning opportunities. Please limit your response to 1 - 2 paragraphs and identify one tax planning opportunity. In your response, please quantify the pre-tax dollar value of the tax planning opportunity. You do not need to calculate the amount of taxes owed, or the amount of tax savings, to Felicity and her husband
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