Planning for Fine Art as an Asset of Your Estate

Shelly J. Kunkel |
Emerald GEMs

Sept. 7, 2021—Whether you acquire a work of art for its aesthetic qualities or for investment purposes, holding fine art in your estate presents both obligations and opportunities for the educated collector. In today’s podcast, Senior Estate and Trust Managing Director Shelly Kunkel of Wilmington Trust’s Emerald Family Office & Advisory discusses three important to-dos regarding your fine art: appraise, insure, and manage disposition (AIM).

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Turn your Passion into Payday

Investment Management
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Collecting can be more than a hobby if you manage your collection like an investment.If you have a substantial collection now, or expect to build one in the future, it’s important to consider the financial side of your avocation.As your collection grows, so does its importance in your overall financial plan.Considering the financial implications shouldn’t reduce your pleasure, but rather ensure that you build something lasting, valuable, and worthwhile out of your passion.

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Building a Family Collection

Wealth Planning
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Approach collecting in a way that strengthens family communication and connection.Actively involving your children and grandchildren in building a collection that interests them can be a way to unify a family.Collecting as a family can enhance communication, teach valuable skills, and create stronger bonds.The ultimate goal is to build a solid, positive, and successful family that becomes a unique collection in itself.

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