Assembly Required: A Guide to Buying, Holding, and Transferring “Toys”

Whether it’s for a yacht, aircraft, car collection, or artwork, successful individuals often seek guidance when it comes to financing, owning, and transferring their “toys.” Depending on what you purchase, you may have unique titling, tax, and insurance considerations. When you’ve had your fun and are ready to pass on your toys, be sure to include specifications in your estate plan. While there is no one-size-fits-all approach, this assembly guide can serve as a helpful checklist as you think through the components of your next purchase of your art and collectibles, and sets a foundation for your enjoyment for years to come.