From being a “passion object,” collections have increasingly become an investment asset in today’s market, making it essential to carefully plan the management of a heritage—both economic and emotional—that has been built over time with effort, dedication, and expertise.

The underlying interest is twofold:

1. the preservation of the collection’s historical continuity and the unified long-term management of the assets forming it;
2. the protection of the assets with a view to transferring them to the collector’s heirs, so they may benefit from and continue to enjoy the collection (and possibly improve or expand it).

The legal solution that most efficiently meets this complex set of needs is found in the Trust.

The establishment of a Trust, regardless of the type of assets included in the collection, allows for:

1. the protection and management of the collection without exposing it to professional or business risks, making it immune to personal and legal events affecting the Settlor-Collector, the Beneficiaries, or even the Trustee;
2. a “tailor-made” plan by the Settlor for managing the collection even after death, clearly outlined in the trust deed. The Collector can plan: (i) investment/disinvestment policies that allow for the strategic and planned growth of the collection; (ii) the creation of dedicated spaces to house the collected works, specifying the terms and conditions for both public and private enjoyment; (iii) participation in exhibitions, shows, and galleries to promote the collection’s dissemination for the benefit of the public; (iv) the use of income from exhibitions to maintain and restore individual works; (v) the distribution of an “income” to the Beneficiaries, also based on their active role related to the collection;
3. the protection of anonymity and the confidentiality of the collection. For example, the collection can be exhibited under the Trust’s name, preserving the privacy of the Settlor and the Beneficiaries;
4. the unified management of the collection and, as a result, the preservation of its overall economic value for future transfer, with the Trustee becoming the sole owner of the collection’s assets and being bound to act according to the rules established by the Collector in the trust deed;
5. the post-mortem unified destination of the collection within the family, ensuring continuity with future generations (or serving a specific purpose). The Trust prevents uninterested heirs from acquiring parts of the collection solely for liquidation purposes, allowing the Collector to specifically identify the intended recipients of the collection among those genuinely willing to continue their legacy, by setting conditions, timing, and methods of assignment.

Emy Trustee, specifically in the field of collecting, offers significant expertise regarding TRUSTS FOR COLLECTORS, assisting collectors—especially of classic vehicles—in establishing their Trusts to protect, manage, and transfer their collections.