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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Thursday, August 28, 2014

Estate of Lucien Freud Pays Inheritance Tax in Art

ArtThe works of one of the most prestigious living British artists were put on display Tuesday at the Tate Britain. The collection, an intimate catalog of pieces by eighty-three year old Frank Auerbach, which includes sketches, birthday cards, and compilations from his early years, were owned by Lucien Freud, a friend of Auerbach's. Freud, who had formerly had the pieces on display in his home in London, died three years ago. The Arts Council England took possession of the collection instead of the Government collecting inheritance tax.

See Miranda Bryant, Treasured by a Friend: Lucian Freud’s Auerbach Works on Show at Tate Britain, London Evening Standard, Aug. 26, 2014.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/08/estate-of-lucien-freud-pays-inheritance-tax-in-art.html

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