Image courtesy of Chubb Insurance.
Megan Fox Kelly spoke with the Chubb Insurance team for their annual 2025 Wealth Report. This series of annual wealth reports provides a view into how affluent individuals and families regard their wealth, what they value, and how they are protecting their assets and legacies.
“It’s difficult to get people—even collectors—to talk about what happens to their collections after they’re gone,” says Megan Fox Kelly. “There’s the dream of what they hope will happen, and then there’s the reality.” Parents may assume that their heirs want to inherit a collection only to find out that they don’t, for example. Or someone may have a grand vision for their collection as the artistic foundation of a future museum but lack the time to plan for it while they’re alive.
It can be heartbreaking for children or grandchildren who suddenly find themselves executors, trying to fulfill their parents’ wishes for the collection when those wishes were never realistically planned for,” says Kelly. “Without that groundwork, it can become a burden instead of a legacy.”
Read the full report from Chubb here.