Why Plan Art LLC
Imagine inheriting a house full of art that had been collected over a span of 60 years. That’s exactly what happened to me several years ago when my father passed. My parents had accumulated quite a collection of art over the years, and now my sister and I were heirs to their prized possessions which ran the gamut from mundane to museum quality. We now faced the difficult decision of finding the right home for the works of art that my parents had treasured during their lifetimes.
I started Plan Art LLC to help other families engage in the discussion around transferring the art that they had spent their lives collecting and loving. For most families, the conversation around the transference of family art takes place for the first time at the passing of at least one of the parents, or life partners. Most families are not prepared to deal with the unique decisions that accompany inherited art and collectibles.
Succession planning for a family’s art is a critical part of the estate planning process and can help ensure that the art collection lands in the right hands.
What Plan Art Does:
- Creates up-to-date inventory and catalogs individual holdings
- Procures the appropriate appraisal and valuation of the art collection
- Identifies long term objectives of the collector, such as:
- Maintain the collection intact
- Transfer specific pieces to next generation
- Determine which pieces to sell
- Identify art to donate as part of charitable intent
Works with outside advisors to ensure the art is accounted for as part of the estate planning process
Contact Robin to begin the process – Robin@planartllc.com.