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Estate Planning Tips for Artists

August 28, 2015

Filed under: Estate Planning — Neel Shah @ 9:15 am

A working artist has the potential to create hundreds of unique pieces over the course of a lifetime. Determining what you want your legacy to be and what you want to happen to your art can be a difficult question, but it is one that is better addressed sooner rather than later. shutterstock_262339691

One of the most important steps you can take in this process is to document and organize your collection as an artist. This helps to increase public appreciation of who you are and why you make the art that you do. Organizing it properly can also increase the interest that a collector has in your art.

Important questions to consider in this process are:

  • How have you signed your art? Consider that works that are signed and clearly linked to a particular creator have higher values, but they also connect that piece with your overall collection for estate planning purposes.
  • Have you created a master list of all the pieces you have created, ideally with a title, photo, and the year of creation? Doing so can make it easier for your heirs if you plan to pass the collection along, but it also can be important for collectors or potential museum interest in your work.
  • How have you stored your art? As a general rule of thumb, do not throw anything away as you organize your art.

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