Art and collectibles may comprise a special part of an artist’s, collector’s, individual’s or family’s assets. You want to ensure that your fine art, antiques and other collectibles are protected – now and in the future – and that the people and institutions intended to continue your legacy can and will. (See The Rosalie Thorne McKenna Foundation Case Study: Going the Extra Mile to Fulfill the Artist's Dreams)
While artists, collectors and families have different issues and motivations, and the complexity of their holdings may vary, the basic premise is the same – planning is critical to ensure that you achieve your vision and goals and protect loved ones from unexpected outcomes.
The Art and Special Collection Lifecycle is a useful framework for understanding the various components of the planning process. As with the family home or business, planning for fine art and other collections raises questions, such as:
Hemenway & Barnes professionals have helped generations of families, collectors and artists manage and plan for their art and other collections. We can guide you through the planning process by helping you:
Hemenway & Barnes attorneys and professionals work as part of a full-service team. This affords clients access to the firm’s art-specific experience combined with the expertise of our other practice disciplines. These include tax, trust and estate planning and administration; probate; philanthropic advising; dispute resolution and litigation and real estate.
Our clients include collectors, individuals, families, artists, foundations, museums and other nonprofit organizations. They seek our counsel for sophisticated art transactions, tax and estate planning and complex regulatory matters.