Financial and Estate Planning for Art Assets

Alessia Zorloni () and Randall James Willette ()
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Alessia Zorloni: IULM University
Randall James Willette: Fine Art Wealth Management Limited

A chapter in Art Wealth Management, 2016, pp 19-36 from Springer

Abstract: Abstract Planning how to transfer a family collection to the next generation can be one of the most critical aspects of building and maintaining a successful financial plan. Deciding where the collection may reside be it with a foundation, a family member, or a museum also is a key consideration. In light of the potential tax and other financial liabilities, deciding on the best strategy early on can be of critical importance. This chapter examines the role of art in the overall wealth management strategy of sophisticated collectors and the issues they face in managing a private art collection. Its conclusion offers general recommendations on what constitutes sound art governance in order to preserve and protect art assets.

Keywords: Auction House; Term Loan; Public Museum; Family Collection; Lending Library (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-24241-5_2

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DOI: 10.1007/978-3-319-24241-5_2

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