Protecting Families as They Divide Estates and Personal Property with David MacMahan
Release Date: 12/19/2024
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Extracting Value and Joy from Art Investing with Anne Rappa & Alex Glauber
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Today, it is my pleasure to speak with Anne Rappa & Alex Glauber. Anne is the fine art practice leader for Marsh McLennan. She provides risk management advice and assists clients by negotiating risk and insurance solutions related to fine art collections and transactions. Anne has 30 years’ experience representing the interests of both individual and institutional collectors, institutions, art dealers, auction houses, art logistics companies and other fine art focused businesses. Anne, and her firm Marsh McLennan, are a valued Advisor member of the FOX community, and we are grateful to...
info_outlineToday, I am pleased to welcome David MacMahan, founder and president of FairSplit.com. Over the past twelve years, David has worked with families dividing estates and is now widely recognized as the leading industry expert on estate division of tangible assets. He is often hired to serve as Administrator of the FairSplit process, but also as an independent third-party mediator to help keep tensions down between family members and reduce the pressure on executors of the estate, by providing an independent, third-party role and the experience to help guide the family members and executor or trustee.
David focused his entrepreneurial creativity and energy onto the field of estate distributions or dividing personal property among heirs after their parents pass. He shares the reasons that made him focus on this space and describes are the challenges that exist with dividing personal property among inheriting relatives.
David shares his insights on how estate distribution works today, what the common methods families use currently to divide personal property, artifacts, heirlooms, etc. among themselves, and what the tools are emerging that help this process.
The company David founded, FairSplit, created a technology-enabled set of tools to help families, as their marketing tagline says, “Divide Things, Not Families.” He talks about the FairSplit solution, its components and functionalities, and how families and their advisors can make use of it.
Finally, David offers some pointers as to some of the other resources, knowledge libraries, or tools available to families, family offices, and family advisors to assist them with estate distribution processes and help them avoid the pitfalls and potential conflicts that can arise during these emotional undertakings.
Enjoy this fascinating conversation on an important and overlooked area of estate planning and family transitions.