The Great Art Mismatch: New Complexities and Solutions for Legacy Planning

Jun 28, 2024

The intergenerational transfer of an art collection can be challenging. Discover how to create an art legacy plan.

Author
Ferdousi Islam, Executive Director, Art Resources Team

The intergenerational wealth transfer of $73 trillion in the coming decades is challenging enough with new generations inheriting art for which they may not share the same appreciation.1 But there could still be another rude awakening from the restless slumber as next generations find themselves with collections that may have been more valuable in their parents’ day.

 

Typically, collectors enjoy art during their lifetimes and then gift upon death. But as lifespans increase, the holding period for art in collections also extends. Art collected decades ago may initially increase in value, only to decline years later when tastes or social relevance have changed.

 

At the same time, the conundrum is not new, with art museums bursting with aging collections that must position themselves for future generations.

 

How does a family office strategize estate planning for art collectors while appealing to younger generations? And what, then, are some art legacy planning considerations for collections on a multi-generational basis?

 

Learn more about how ART at Morgan Stanley can help.  

The “Great Art Mistmatch,” from Morgan Stanley’s Art Resources Team

Learn more about the growing complexities art collectors and museums face with considerations for more effective legacy planning.

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