The Art Succession Advisory Process     Our Six Steps to Success Step One: Discovery The past, present, and future of your collection We begin by developing a history of the collection which may include method of acquisition, previous ownership, cost basis, copyright issues, provenance, and other information. Our experts can assist in building an electronic inventory, including photos, artist bios, and collector’s recollections. This step alone will usually increase the value of the collection. Step Two: Diagnosis Uncover risks and possibilities Next, our team of experts analyzes each piece in the collection to determine aesthetic quality and historical importance. Auction records and dealer prices are examined to develop a current opinion of valuation. Items are identified which may be in need of conservation or restoration. Finally, this information is integrated with our three-tiered grading system to provide a foundation for formal plan design. Step Three: Design Construct a comprehensive art succession plan The design step begins with careful listening to the goals and wishes of the collector. We want to understand the client’s desire for the collection. Only then can we begin to construct a strategic plan. Next, our team of experts explores all the options. Depending on the collector’s goals, the possibilities are many and varied. After consultation and collaboration, the collector is presented with a formal, easy to understand, written plan that leverages the opportunities and mitigates the collector’s risks.   Step Four: Delivery A drafted and fully implemented set of planning strategies A beautiful plan design isn’t of value unless and until it is fully implemented. Our experts will draft all legal documentation, establish all legal entities, change title when appropriate, calculate tax liabilities or savings, file appropriate returns, and take care of every implementation detail. Those experts will also participate as needed to perform ongoing maintenance of the plan or to make future changes. Step Five: Direction Train beneficiaries for future roles and responsibilities Communication with beneficiaries is absolutely critical to the successful implementation of the  plan. We prefer to open that conversation while the collector is still available to participate. Therefore, we will provide training so that everyone impacted will have a thorough understanding of the plan and their individual role in implementation. Step Six: Distribution Expert post-mortem advice Sometimes even with a great plan and trained beneficiaries, it is helpful to have experts overseeing the transfer of the collection. Our experts are available to assist as requested in the ultimate distributions.