Grosse Pointe, MI April 2024

Investment Issue

AprilInvesting Issue

By definition, investment is devoting time, effort, energy, or finances to a particular undertaking with the expectation of a worthwhile result. We can invest in many things, such as our community, relationships, finances, and health, with the hope that the effort will have a positive impact. We can invest in our community by supporting local businesses, schools, and organizations. We can serve the community through volunteerism and investment in future generations.

In the summer of 2019, after a 21-year career in academic publishing, I decided to go on my own and start Grosse Pointe City Lifestyle. The motivation of honoring my mom, dad, and family and bringing something to a community that brought so much to us inspired me to make it happen. Then, with the debacle that was 2020, I had to survive…but I was not going to let the Grosse Pointe business owners who invested in me and this magazine down. So we persevered and came out of that time stronger than ever. We invested in each other and are 4 1/2 years later continuing the mission of connecting Grosse Pointe.

We discuss art investments with Robert Lubera, partner with Lubera & Parnell P.L.C in Grosse Pointe Farms. Many people combine their passion for art collecting with their passion for investing. Rob guides and brings his expertise on the buying, selling, and estate plans that involve art collecting and investing. Learn about provenance, authenticity, good title, and how to navigate Rob's Art Law experience.

We also speak with Daniel Harrison, a financial advisor with Ameriprise in Grosse Pointe. Dan discusses nonprofit donation strategies and how having a plan in place with all the variables in these complex transactions can make big differences in your tax profile. He goes over options and how best to structure donations that meet your needs.

On a lighter note, we show off some fashion trends as you prepare to invest in how you look this spring and summer. Lanna Young, owner of Savvy Chic Boutique, and Ann Turnbull, owner of Village Palm, have selected the styles and looks for the season, so you're prepared to look and feel your best. Get ready to invest in some shopping in the Village!

It's an investment issue; what better feeling than investing in our Grosse Pointe community.

David

Paige

Corporate Team

DAVID MATTALIANO, PUBLISHER @GROSSEPOINTECITYLIFESTYLE

Dream it, we will do the rest.

IRRIGATION | CONSTRUCTION | MAINTENANCE

From ideas and thoughts to completed designs, Russell Landscaping Inc. delivers creativity, individuality, and satisfaction. We are passionate about the potential of a project and are committed to the great execution of a design that fits best for our clients. Our team concentrates on making it easier for you to achieve all of your project’s intention and ideas.

Ready to embark on your journey to wellness?

Reach

city scene

Want to be seen in the magazine?

1: EyesOn Design Vehicle Selection Committee Chair Glenn Abbott and Chief Judge Glen Durmisevich. 2: Grosse Pointe City Lifestyle Publisher David Mattaliano and EyesOn Design Grand Marshal Timothy McGrane. 3: EyesOn Design poster artist Nicolas Rousselet at Ford House. 4: EyesOn Design dignitaries reveal the 2024 poster design by artist Nicolas Rousselet at Ford House. 5: February cover artist William Schippert exhibits his work at Posterity Art and Framing Gallery. 6: Angelo Sherman exhibits his work at Posterity Art and Framing Gallery. 7: Grosse Pointe Park Mayor Michele Hodges and Posterity Art and Framing Gallery owner Michelle Boggess.

SPRING / S U MMER STYLE

ARTICLE BY LANNA YOUNG & ANN TURNBULL COOL TRENDS

dress in heartbreaker pink captures the essence of the beloved sundress style. Crafted from airy flat rayon fabric, it boasts a smocked bodice with adjustable straps and a straight neckline.

White Dress/Sweater Set

Wearing a sweater over a dress has become quite the popular trend and is easy when the pairing is done for you.  The crisp white spaghetti strap midi is already a summer closet staple to wear on its own, yet creates an entirely new look when you add the delicate and feminine crotchet knit topper.

Opposite:

Beachside Midi Dress

The midi

Pickleball is here!  Enjoy new outfits and rackets.

Ruffled Print Dress

Crafted in a luxurious silky printed satin, exuding a subtle yet undeniable allure. This feminine and delicate dress is effortless yet polished, providing dayto-evening versatility. Pair it with sandals for a laid-back daytime ensemble or heels for that special occasion.

Selections provided by:

Navy, navy navy. Must pack for VACA!

Lanna Young, Savvy Chic Boutique, Village of Grosse Pointe, savvychicgp.com

Ann Turnbull, Village Palm, Village of Grosse Pointe, shopvillagepalm.com

FASHION FORWARD

Dr. Mary Sue Stonisch, the Smile Artist, offers motivational speaking to entrepreneurs, providing practical strategies for balancing career demands while prioritizing self-care and avoiding burnout. Book Dr. Stonisch to elevate your team’s well-being and productivity, inspiring them to achieve professional success and personal fulfillment. Schedule An Event With Dr. Mary Sue Stonisch

Art as an Investment

What You Should Know

ARTICLE BY SUE BALDANI

I Be Thinkin, artwork by Judy Bowman, Photo by Larry Melkus of Fine Arts

While some people buy art and other collectibles because they feel an affinity for the pieces or love the designs, others buy them strictly as an investment. Whether it is a painting by one of the great masters, a famous sculpture, a rare baseball card, an antique watch, or a classic car, they hope its value will rise considerably one day.

Red Maple dress, By Robert Lubera. Photo of Rebecca Koch by Kiwi Barranco

"I am an estate and trust administration attorney, but I have a specialty in art law, and I've been dealing with art as an asset class for quite a while now," says Robert Lubera, a partner in the law firm of Lubera & Parnell P.L.C. in Grosse Pointe Farms. "Art is becoming an increasing percentage of clients' portfolios. It is a way to combine a person's passion for investing with their passion for collecting."

When it comes to buying art, and especially when you are looking to buy art as an investment, there are three important criteria to keep in mind to ensure that what you are buying is a legitimate piece of art. These are provenance, authenticity, and a good title.

"They all connect in one way or another, but they're different," he says. "Provenance is being able to track the actual piece and in a perfect world, that would be back to the artist's studio. Provenance is to an art collector as title is to a lawyer and it assists in determining authenticity."

Car collection, 1952 Fiat in front of the Turkel house. James Haefner Photography

Red Maple, artwork by Robert Lubera

"You'd be surprised by the prevalence of forgeries in the art world - you must be so careful."

"Good title means buying it from someone who actually owns it. There may be issues because the person selling it may think they own it, or maybe they are knowingly trying to pass it off, but they don't have good title, so it's not legally theirs to sell. This could include art taken from its rightful owners during World War II, and/or shipped illegally from other countries to the United States."

Rob advises building a really good team that will provide guidance and expertise.

"You should not do it on your own. Your team could include people like me who deal with art law, financial advisors, art dealers, art advisors, CPAs, risk management professionals, qualified appraisers and specialists from auction houses."

He says many of his clients are interested in collecting works from artists they can meet in person and develop relationships with. "When talking about investing, this might not be a bad idea because you're buying these art pieces maybe earlier in that person's career when they might be more affordable. Now, with that being said, it is not easy to know what art may appreciate significantly, so you must be very careful about anybody who promises you a rate of return or a big turnaround."

"In some sense, you want to buy art because you love it, and it touches you somehow. Then, if it goes up in value, it goes up in value, but if it doesn't, it doesn't, you still get to enjoy it."

It is also important to be aware of the costs of selling art. "Along with the direct expenses related to a sale, whether insurance, shipping, or fees from an auction house, tax planning is essential. It is very important to develop a strategy that considers the sale of the art and a client's ultimate goals."

"In some sense, you want to buy art because you love it, and it touches you somehow. Then, if it goes up in value, it goes up in value, but if it doesn't, it doesn't, you still get to enjoy it."

In addition to being an attorney, Rob is also the 2024 Chair-elect of the Arts Section (ACES) of the State Bar of Michigan. This organization provides information, education, and analysis about issues of concern for attorneys throughout the State of Michigan. In 2025, Rob is slated to become the Chair of ACES.

"I've always been interested in the arts, and I have been working closely with artists and art collectors, especially over the last 14 years," he says. "My interest in art probably came from my parents first - they were truly the Renaissance role models for me," he says. "My dad's a physician and accomplished violinist, and my mom is an artist, and I grew up surrounded by art, whether it was their personal collection or the art I would see at all the museums they took me to."

Rob is actually an artist himself. "I love the digital art space, and with it, I make fabric designs and then design dresses," he says. In a recent fashion show, his beautiful, unique creations have been showcased, including one dress with a spectacular red maple design.

"A lot of my dresses are custom made, so people will come in to be measured for them," says Rob. "Then, I have someone who has historically been in the fashion industry make the dresses. Unfortunately, I have little time to dedicate to my art."

Untitled 021 by Laura Letinsky © Courtesy of Wasserman Projects

It's no wonder. In addition to everything else he does, Rob is also a strong believer in giving back to his community. He has been the President of the Board of Directors for The Helm and currently serves as Chairman of their Planned Giving Committee; he has served on the Board of Directors, Executive Committee, and Chairman of the Collections and Exhibitions Committee for the Detroit Historical Society. He has also served as the Chairman of the Board for all the Ascension hospitals in Southeast Michigan, the Grosse Pointe Chamber of Commerce, and the Grosse Pointe Chamber of Commerce Foundation.

If you are interested in learning more about collecting and investing in art and/or collectibles, please reach out to Rob and find out more. You can also follow him on Instagram: @ArtLawToday

www.LP-PLC.com

"Art is becoming an increasing percentage of clients' portfolios.”

Wine collection, by DesRosiers Architects, James Haefner Photography

INVESTING IN THE FUTURE

Donating to a nonprofit organization can bring great rewards, not only to the charity, but also for the person doing the giving. But, with all the worthwhile causes out there, how do people know which ones to choose, while also considering their financial situations?

ARTICLE BY SUSAN BALDANI

"Having a plan in place can help avoid errors."

Daniel Harrison, a financial advisor with Ameriprise Financial in Grosse Pointe, advises people to consult with their financial advisor or tax advisor to evaluate all the options when considering different donation strategies.

"Like anything else, having a plan in place can help avoid errors and improve or increase chances that their intended gift will be used the way they want it to," he says. "There are a lot of variables in our increasingly complex world, especially with financial markets, and they should work with a professional to develop a plan specific to their situation."

When working with clients who wish to donate assets, Dan encourages them to connect with individual charities and meet some of the leaders or heads of the organizations.

"This can give people a better idea of the impact their donations may have, such as how much of their donation is actually going to be used for fulfilling its mission versus going to overhead expenses."

Also, asking for financial documents will allow potential donors to analyze the organization's financial health. "They should ask for a copy of their most recent annual report and Form 990," he says. "This outlines the charity's budget allocation and financial plans, and again, it can give more insight into how their money will be used to make the intended impact."

To be able to assist his clients with charitable donations, Dan will go over their goals and understand what they're trying to accomplish. "Once we have a target in mind, I'll look at their income stream first. We can

utilize several strategies to help maximize the impact of their contributions while maximizing their portfolio efficiency."

He explains that one of these strategies is donating stock instead of cash. "For example, if clients have appreciated stocks in non-IRA accounts that may be subject to long-term capital gains, they can contribute the stocks directly to a charitable organization. Let's say a client has a stock valued at $2,000 that they bought 10 years ago for $1,000, and it would be subject to a 20% long-term federal capital gain tax.

"Option A is to liquidate the stock, pay taxes, and then make the $1,800 contribution to the charity. Option B is that instead of selling the stock, the individual donates the stock directly to a qualified charitable organization, and therefore, no sale of the stock occurs. The full $2,000 value of the stock is then transferable to the charity and then the charity - since they have taxfree status - does not have to pay long-term capital gains on the sale of the stock. Or, they can continue to hold it, and if it appreciates, the client's contribution can have an even greater impact."

Another strategic way to donate is by participating in workplace giving campaigns. "Sometimes an employer will match the client's charitable contributions, which can certainly increase the impact of their donation," says Dan.

Some people may think that donating to charity is an automatic tax deduction, but that isn't so. "Contact the organization to make sure that they can accept such gifts and that they do qualify for 501(c)(3) status,

"There are a lot of variables in our increasingly complex world, especially with financial markets, and they should work with a professional to develop a plan specific to their situation."

but also consult with your individual tax advisor to have a clear understanding of the ramifications of your donation."

Dan, who has over 16 years of experience in the financial industry, enjoys assisting people in his community with financial matters. "It's the only career I've ever had," he says. "I work closely with my clients and pride myself in building personal connections." This helps him identify their financial goals so he can tailor a customized plan to their specific situation and assist them in achieving those goals.

"I love this community," says Dan. "I can see my son's school out my office window. I picked

up a coffee this morning from my favorite bakery in the neighborhood. Meeting people, having these neighborhood connections, and living and working in such a tight, close-knit community is something I value very much."

He's also glad to be working with Ameriprise Financial. "They are not your typical Wall Street company – they are based in Minneapolis, Minnesota. I grew up in Metro Detroit, so I'm a Midwestern kid through and through. I appreciate the Midwestern values they bring to the table.

To have Dan assist you with your financial goals, go to AmeripriseAdvisors.com/ Daniel.J.Harrison

events

A SELECTION OF UPCOMING LOCAL EVENTS

MARCH 31ST

Easter Brunch at Ford House

Ford House | 1:00 PM

Indulge in a lavish Easter Brunch at the exquisite Ford House! Take in the stunning waterfront views of Ford Cove and Lake St. Clair. Enjoy an exclusive brunch buffet featuring bagels, Danish pastries, fresh fruit, chef-made omelets, waffles, and a special visit from the Easter Bunny! www.fordhouse.org/events/easter-brunch

APRIL 5TH

The Play that Goes Wrong

Parcel's Middle School | 6:00 PM

This 1920s whodunit has everything you never wanted in a show—an unconscious leading lady, a corpse that can’t play dead, and actors who trip over everything (including their lines). gpt.org

APRIL 7TH

Lecture Detroit Modern

The War Memorial | 2:00 PM

For this lecture, art historian and recognized expert on Mid-Century Modern Deborah Kawsky will interview Peter Forguson on his book Detroit Modern: 1935 – 1985. www.warmemorial.org