Withers Worldwide

Have you appropriately safeguarded your art and cultural assets?

Do you have an appropriate succession plan in place to avoid your collection being divided upon your death?

Will your art collection be protected against divorce proceedings?

There is no typical art collector; some inherit significant collections whilst others develop a passion for art during their lifetimes and gradually build their collection from scratch. There is no typical collection either; items collected might range from paintings to furniture to coins or stamps. The needs and wishes of collectors are correspondingly diverse and this can make it difficult to offer generic advice. However, one thing that many collectors will have in common is a desire to ensure that the collection they have devoted time and effort to nurturing is preserved both during their lifetime and for future generations - either of their family or of art lovers more generally.

Many wealthy individuals increasingly spend their time between a number of jurisdictions and their families may also be spread around the globe. As a result, their estates can be subject to the laws of several different jurisdictions. This can have an impact not only in terms of tax, but also in terms of succession and the vulnerability of assets, including works of art, on divorce or from creditors in general.

We are highly experienced at designing structures to hold art collections around the world taking into account our clients' tax planning strategies. We can also help with regulatory issues such as import/export and customs regulations, and negotiate loans secured by art anywhere in the world.