Kristin,
    Although I have never had a client interested or wealthy enough to consider making a partial or fractional gift of the interest in a collection, I have lectured on the topic and know that it is a way for a donor to continue to enjoy the property and also donate a fraction of it to a qualified institution and receive a current deduction for the fair market value of the donation.  There are rules to be followed.  For instance, the deed of gift must be non-divided; meaning shared only between the donor and the donee museum.  Also, it must be a present not future interest; meaning that if the museum receives a 1/4th interest, then the museum must possess the
object(s) at least three months out of the year.

    I would only contemplate doing this if the museum was assured of obtaining the entire collection at some point in the future.  Although, the deed of gift would survive the donor's death so that even if the museum did not obtain the entire collection, it would still be entitled to receive the object(s) for the time length denoted by its ownership portion.  A tax or trust and estates attorney should be able to handle this transaction for you with no problem.  I hope this information helps.

Best,


---
Terry Peeler, Esquire
Art & Entertainment Law
215-575-1180-p
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