Protecting Artwork with an Estate Planning Lawyer
When planning your estate, you are usually most concerned with preserving assets for family and friends and perhaps making bequests to charities. Assets are typically money, real estate, or other investments, but one of the most personal valuables is art. An estate planning lawyer in Hernando County, FL, can help protect your investment while ensuring it endures long past your lifetime.
Value & Sentiment
Investing in artwork can pay dividends down the road, and inherited pieces often only increase in value. In other cases, the sentimental value can make artwork priceless to your heirs, making it equally necessary to protect.
Add It to Your Estate
Once you have established monetary value with an appraisal, your lawyer can include it in your estate planning documents. Your heirs and beneficiaries will then have a clear idea of its estimated value when they acquire it.
The History of Your Art
In the art world, provenance is critical. How you obtained the work, receipts, letters related to its purchase, and photos of the artist can go a long way toward proving its origins. Secure these records to the piece, so the information stays together.
Keeping art in the family is often a priority for those planning their estates. No matter what the monetary value, speak to an estate planning lawyer about ensuring it goes to the right home after you are gone.