Art and collectibles, in all of its forms, are such an important part of life. They are also an asset class and a very unique one with many layers to it. Beyond the pure monetary sense of value, they often hold personal and emotional value to its owners and to other admirers of the work. It can also become emotional when one considers how or if art will be left to the next generation as part of an estate. The combination of monetary value and emotional value can create a particular kind of complexity when it comes to planning around art in all of its forms.
In this podcast, Dr. Sara Johnson, a high-net-worth planner at RBC Wealth Management Family Office Services, discusses considerations in dealing with the transition of art and collectibles in estate planning.
“One of the most overlooked aspects by a collector is integrating their art collection within their general governance of the family.”
- Dr. Sara Johnson, VP, High Net Worth Planning Services at RBC Wealth Management Family Office Services