Art. It’s not gold, securities or cash. It is precious, difficult to value, and highly subjective to taste. Art is an asset class that is often ignored in the estate planning process. However, your art collection is a very important and personal part of your legacy! Making the proper arrangements in advance for its care and allocation is essential.
A knowledgeable attorney at Wollman, Gehrke & Solomon, P.A. can assist with all your estate planning needs, including those involving the purchase, protection and sale of fine art. While some may consider a lawyer unnecessary when it comes to buying and selling art, knowledgeable legal guidance can go a long way to protect your interests and rights. It can also facilitate smoother transactions by gathering potentially key information about a buyer, seller, or the artwork itself, ultimately minimizing risk.
Our legal team is knowledgeable and experienced in art law and can represent your interests when negotiating the purchase or sale of fine art, drafting or reviewing contracts, agreements, and other legal documents, serving as the escrow agent during a sale, establishing the validity and terms of auction house or dealer contracts, and litigating any disputes which should arise from breaches of contract, authenticity or title.
Fine art adds a significant value your estate and net worth. Like real estate investment and stock purchases, the purchase of fine art carries a certain risk. How can you ensure that the piece is authentic? What types of agreements or contracts must be signed? How can you protect your rights and interests when buying or selling fine art? This is why retaining legal council specializing in this niche area of estate planning is so imperative.
Regardless of what your estate encompasses, it is essential to take asset protection measures, through the establishment of trusts, wills or other estate planning documents. The legal team at Wollman, Gehrke & Solomon, P.A. has over 50 years of combined experience and is dedicated to providing excellent service and personalized attention. Our hard work has been recognized by various awards and accolades including an AV-rating by Martindale-Hubbell Law Directory.
CONTACT THE FIRM to schedule a confidential initial consultation and learn more about protecting your fine art and other valuable assets.