A composite of studies of trust and estate attorneys, trust officers, and financial planners revealed that:
• Fewer than 10% of plans for their clients addressed art, antiques, and collectibles
• Fewer than 10% used art assets in intergenerational planning
• Fewer than 15% used art assets in philanthropic planning
• Fewer than 5% realize that the true cost of selling a million dollar painting at auction is approximately 35%
• Fewer than 1% used the services of an art succession planning specialist
So what’s the problem? The problem is that collectors and their families can lose, at minimum, as much as 75% in the value of the collection if upon death items are sold through traditional means.
Read our white paper to find out more.
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