Art Trusts
An Art Trust is a legal arrangement where valuable artworks are held and managed by a trustee for the benefit of designated beneficiaries. This setup allows collectors to preserve their art collections while ensuring that the artworks are maintained, displayed, and eventually passed on to heirs or other beneficiaries according to the trust's terms.
Art trusts can also provide tax benefits and help protect artworks from potential creditors. They often include specific guidelines on how the art should be cared for, displayed, and sold, ensuring that the collector's wishes are honored even after their passing.