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The Bad Planning That Leaves Many Artist Estates Tangled in Lawsuits
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Just a week before his death, a lawsuit was filed by the artist’s agent, the Morgan Art Foundation, against his studio manager, Jamie L. Thomas.
Even with carefully laid plans, “a will doesn’t solve everything,” Nikas said, noting that the issue of the amount of money paid to estate executors brought lawsuits with the estates of both Andy Warhol and Robert Rauschenberg.
Additionally, family members or trusted friends may not be knowledgeable about how the art trade operates, or capable of promoting that artist’s work.
There is no ideal executor of an artist’s estate or foundation.
All true, but he added that they may have less knowledge about how to promote an artist’s work posthumously than those who are insiders.