Know What You Own

businessman-on-phoneAs an individual’s affluence increases, so too do the quantity, diversity and value of their possessions. This predictable pattern drives home the urgency of four important words: Know What You Own!

Why is knowing what you own—and documenting and cataloging it—important? A secure online catalog of tangible assets with client-controlled access enables owners to collaborate with professional advisors and family members across the table or around the world, adding significant value to applications as diverse as:

Insurance Evaluation
Documenting valuable assets—through photo images, digital copies of purchase receipts, current appraisals, and descriptions of condition, location, provenance, and other details—ensures that owners are provided with the right type and amount of insurance coverage. Claim time is the wrong time to discover that coverage is unsuitable.

Insurance Claim Filing Efficiency
Furnishing the insurance provider with a detailed list of affected property as promptly as possible after insured assets are lost, stolen, damaged or destroyed can increase the efficiency and reduce the stress of the claim filing process.

Estate Planning
Producing a complete digital catalog of tangible assets can add clarity and efficiency to the estate planning process and cultivate harmony among family members.

Legal Planning
Detailed documentation of tangible assets can play a crucial role in personal and business legal matters ranging from prenuptial agreement planning to property division in divorce settlements to general business planning.

Tax Planning
The quality of any tax planning service is dependent on the quality of information provided to the tax planner. Documenting, and cataloging tangible assets thoroughly and accurately may provide immediate tax advantages and/or prevent serious tax issues from surfacing in the future.

Wealth Management
A thorough and accurate digital catalog of tangible personal and business assets allows high-net-worth owners to face the future in full command of important details associated with their wealth.

Disaster Recovery
A digital catalog should contain the information an owner needs for ready use in disaster recovery. Detailed pre-loss documentation of treasured possessions greatly improves the odds that each item can be accurately claimed, each structure rebuilt, each setting restored, and each bit of family history preserved.

Property Management
When the features and associated facts of real estate structures are captured, recorded, and hosted on an encrypted, secure website, an owner can maximize property values by remotely and efficiently managing all the details involved with ownership.

Fine Art and Collectibles
Fine art and valuable collections such as classic cars, wine, coins, and stamps, are often a reflection of the passions and priorities of the owner—reason enough to document these assets to make certain that they are suitably insured to support replacement or adequate compensation in the event of an insurable loss. If items are lost to burglary, their recovery, as well as the perpetrator’s prosecution, may directly depend on the images and special markings that the victim can provide to law enforcement.

Philanthropy Planning
All philanthropic planning and donation-related communications require accurate facts and valuations. Cataloging special collections and other items that are earmarked for donation is an efficient and cost-effective way to correspond with prospective donation recipients.

Valuable Documents and Data
Important documents and confidential data—including legal agreements concerning specific items, intentions and values—should be backed up in case originals are lost, damaged, or destroyed. This digital library can also serve as a virtual living will by providing family members with critical data in the event of a loved one’s serious illness, disabling accident, memory decline, or death.

Virtual Tour Enjoyment
Documenting and cataloging tangible assets won’t just help with insurance claims and coverage, it’s also an emotionally rewarding way to record and preserve a family’s history. Family gatherings, celebrations and traditions can be revisited by scrolling through visual reminders of past and present family treasures, homes and special collections prized more for their sentimental value than financial worth. At a moment’s notice, all this and more can be recalled and enjoyed visually and verbally through connected devices alone or with family members in distant locations.

For optimal results, thoroughly documenting and cataloging tangible assets is best left to experts. Archival Property Solutions has broad experience with property categories and asset classes, and the network reach to refer owners to experienced appraisers and other uniquely qualified professionals when appropriate. You can rely on us to perform the tiresome and grueling work of gathering and organizing the necessary data and images, and privately displaying the resulting information catalog securely online.

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About Archival Property Solutions, LLC

Archival Property Solutions documents and catalogs the tangible assets of high-net-worth owners for their personal viewing pleasure and support of crucial Family Office and wealth management activities. Clients who have substantial and complex holdings in multiple locations can now keep their catalog of non-financial assets stored securely for private, confidential access via computer, tablet or phone. When maintained with current information, this confidential digital catalog can keep owners and their trusted advisors better informed, enabling them to stay current with professional service objectives and to plan for, protect against, cope with and recover from life’s unexpected events.

Contact Archival Property Solutions at:

(866) 843-2100 or
e-mail us

When we receive your inquiry, we will determine the best way to match our services to your unique needs and circumstances. We look forward to hearing from you and will respond promptly and confidentially.