Premier Art Finance Artemundi Group / 2019 Premier Art Finance Artemundi Group : 201 | Page 32

N ew York · Lon d on · Mexi co City · M a d rid
ESTATE PLANNING .
Wealthier collectors are more passionate about art
47%
Collect f ine art
33%
58%
Aff iliated with a local museum
38%
32%
Plan to leave their collection to a
museum or charity
21%
21%
Support specif ic artist
13%
0%
10%
20%
30%
40%
50%
60%
Collectors with $5M +
Collectors with $1M - $5M
©UBS Investor Watch 4Q, 2017
Regardless of the size of an art collection, a basic estate plan is an essential step toward addressing fundamental
issues such as the disposal or transfer of assets, charitable bequests, and responsibilities for carrying out the
expressed wishes of the deceased.
67% of collectors who have made formal arrangements for their collection in their estate plan indicate the art
will primarily go to the family. 14% responded that the art would be sold and that the proceeds would go to the
family, and 13% said the collection would go to their private foundation. Only 5% of responders said that their
collection would go to a public museum and only 1% said it would be sold and go primarily to charity.
During the process of transitioning ownership of an art collection as part of estate execution, wealth managers
should work hand-in-hand with advisors and art-market specialists to provide added value to collector’s
beneficiaries. Art market specialist knowledge in collaboration with general wealth advisory can encourage legal
security, optimal tax management, and maximize economic results. Advance preparations greatly assist executors
make decisions and fulfil wishes while giving the bereaved as much peace as possible.
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