Asset Structuring

The way art is owned can be as important as the characteristics of the asset itself. Personal ownership, corporate vehicles, trusts, foundations and other structures may produce very different consequences for control, succession, financing, taxation, discretion and long-term management. The appropriate arrangement therefore depends on the purpose for which the works are held and on the wider legal and patrimonial context surrounding them.

Structuring becomes particularly relevant where collections are shared between family members, held across several jurisdictions or intended to pass between generations. Questions may arise concerning beneficial ownership, decision-making authority, governance, inheritance, creditor exposure or the ability to sell, lend or pledge individual works. The legal form used to hold the collection should support those objectives rather than create unnecessary complexity or restrict future options.

The structure must also reflect the practical realities of managing art. Custody, insurance, conservation, transport, exhibition, documentation and financing arrangements may all be affected by who legally owns the work and who is authorised to act in relation to it. Transactions between related entities, transfers into or out of a structure and changes in residence or location can introduce additional legal, tax or regulatory consequences that should be considered in advance.

Effective asset structuring is therefore not simply a matter of placing works within a vehicle. It requires alignment between ownership, control, succession, tax treatment and the intended use of the collection over time. The objective is to create an arrangement that remains legally coherent, operationally workable and sufficiently flexible to accommodate changes in family circumstances, jurisdiction, financing needs or the future transfer, financing or disposal of the works.