This book provides helpful guidance for legal advisers, art collectors, artists, and their families planning for the future of their collections. Matthew F. Erskine, J.D. outlines practical strategies for inventory, valuation, and tax-efficient transfers, navigating international legal complexities and balancing preservation with adaptability. Key Features: Includes ready-to-use checklists, templates, and step-by-step guides Draws on relevant case studies, such as the Barnes Foundation and Gurlitt collection Covers cross-border complications, including foreign tax implications and export restrictions Proposes an 'emotional economics' approach which addresses both the financial value and personal attachments to art Emphasizes succession planning as an ongoing process that anticipates change in art markets, legal environments, and family dynamics This Practical Guide is an essential resource for estate planning lawyers, art collectors, and wealth managers. Artists and art institution administrators will similarly benefit from its pragmatic approach and actionable insights.