Preserving a Cherished Family Legacy

deskNed and Nancy were thrilled to receive a rare Louis XV style Bureau Du Roi Cylinder Desk on their wedding day from Nancy’s parents. Thirty-two years later, their daughter Samantha was moved to tears when her parents presented this family treasure to her on her own wedding day. Samantha and John’s daughter, now a teenager, is dreaming of her own wedding some day and looking forward to being the beneficiary of a longstanding family tradition—the passing between generations of this cherished family heirloom.

Given that John and Samantha’s luxurious oceanfront home is vulnerable to severe weather, the couple made a point of documenting this exceptional Louis XV desk with photo images and scans of its compelling provenance, measurements and other metrics. They have done what they could to safeguard their home against destructive events, but should this valuable desk be damaged or destroyed they are comforted by the fact that a detailed documentation record of this important piece of family history, complete with audio recollections and descriptions from previous owners, will be preserved on Archival Property Solutions’ secure website for future generations to enjoy.

Cataloging their Louis XV desk in this manner and updating the record with regular value appraisals will help the family maintain suitable insurance coverage. In the event an insurance claim needs to be made, they can rest assured that the recovery process will proceed smoothly.

While the names and details of this story have been changed, these benefits are available to every client of Archival Property Solutions. Documenting a client’s tangible assets results in a catalog of valuable information that can serve as a useful and time-saving resource for Family Office activities and a wide range of services including estate planning, tax strategy, insurance evaluation, wealth management and personal- and business-related legal work.

As evidenced by the above story, creating a digital catalog is 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.



Click here to see a listing of all Archival Property Solutions blog posts.


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.

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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.



Click here to see a listing of all Archival Property Solutions blog posts.


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.

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Sooner Is Better Than Too Late

stormy-weather-lightningThe first three paragraphs of an article titled “Stormy Weather” by Leila Boulton in Private Wealth magazine highlights a significant risk factor in the lifestyles of high-net-worth individuals and families:

“No one knows exactly how climate change and severe weather will impact the luxury home market. But advisors to the wealthy do have reason to be concerned, as the ultra-wealthy naturally gravitate to areas that suffer the most from destructive storms and other natural hazards.

“

Who wouldn’t like to live with a beautiful waterfront view?” asks Scott Spencer, worldwide loss prevention and appraisal manager at Chubb Personal Insurance. “We continue to rebuild in places that have losses. Again and again and again.”

The simple fact for insurance companies is that wealthy policyholders tend to build and buy properties along picturesque coastlines susceptible to rising sea levels, on tropical islands vulnerable to intensifying hurricanes and in scenic mountain areas prone to escalating wildfires.

Click here to read the full article in Private Wealth.


It’s crucial that high-net-worth owners document and catalog their valued tangible assets before a catastrophic storm, flood or fire can inflict substantial damage or losses. Those assets often include fine art, valuable collections, jewelry, gems, antiques and luxury items, but it’s also critical to document residential structures, their landscapes, and their daily use contents, including amenities, furniture, décor, fixtures, finishes, and other architectural details.

The sooner such documentation is completed and made available to the owner’s Family Office or insurance advisors, the more confident the owner will be that any coverage gaps will be effectively dealt with. If, however, the owner waits to act until the evacuation notice arrives or warning sirens start blaring, his chances for making the best possible recovery may literally go up in smoke.

When an entire region is alerted to brace for extreme weather or impending calamity and the threat of damage becomes a near certainty, having a customized digital catalog in place for collaboration with professional service providers can facilitate an easier and faster claim handling process and a less stressful, more complete recovery that may include structure demolition and reconstruction.

For optimal results, thoroughly documenting and cataloging tangible assets is best left to experts. Archival Property Solutions will perform the tiresome and grueling work of gathering, organizing, and privately displaying the resulting information catalog securely online, well beyond the reach of the gathering storm. The sooner you call us, the better the chance that you won’t be calling a minute too late.



Click here to see a listing of all Archival Property Solutions blog posts.


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.

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The Art of Coverage

Asset protection attorney Ike Devji
Asset protection attorney Ike Devji

With a brief opening comment, Ike Devji, an asset protection lawyer in Phoenix whose client base represents nearly $6 billion in personal assets, launched a discussion on 6/27/13 in the LinkedIn Asset Protection Professionals group by posting this article by PropertyCasualty360.com. The article is titled “The Art of Coverage: Collectibles Insurance vs. Traditional Homeowners Policy.”

Given that I share Ike’s interest in and concern for this topic, I posted the following comment in response:

An excellent article! In the wake of substantial loss, claim time is the wrong time to discover that coverage is unsuitable. It’s not just the owner who loses in such a scenario: no insurance broker or company wants to see gaps in coverage jeopardize important client relationships.

Unsuitable coverage isn’t the only challenge. If valued items are lost, stolen, damaged or destroyed, the lack of accurate pre-loss documentation may cause some items to be overlooked or undervalued, adding unnecessary stress to an already distraught owner and substantially affecting the recovery process.

Everybody wins when owners do their part to get their tangible assets documented and professional service providers do their part to ensure that all parties have full, current, and accurate information to work with so gaps can be eliminated and efficient loss recovery facilitated.

The best solution is to digitally catalog an owner’s prized collectibles. Professionally documenting these assets—through photo images, digital copies of purchase receipts, current appraisals, and descriptions of condition, location, provenance, and other details—helps owners and their trusted advisors arrange for suitable coverage and better manage the complexities associated with valuable collections.

It falls to advisors to advocate for awareness and action on everyone’s part, and sooner rather than later. The scourge of complacency may threaten once-valued advisor relationships. The problem with waiting is that there is no problem until everyone has a problem and it’s too late to get it right.

Archival Property Solutions specializes in constructing digital catalogs of tangible assets that help owners and their professional service providers cope with, plan for, protect against, and recover from life’s unexpected events. Ultimately, creating a digital catalog is not only practical, it protects the most valuable asset of all: peace of mind.

John T. Mosby
Archival Property Solutions



Click here to see a listing of all Archival Property Solutions blog posts.


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.

Share

When Natural Disasters Strike

archive-assets-natural-disasterNature’s ferocious power has been on full display recently, from Hurricane Sandy on the East Coast to wildfires in California to devastating tornadoes in Texas and Oklahoma.

When natural disasters strike, the human element is obviously priority one, and our hearts go out to people everywhere who were severely injured or who lost precious loved ones. Loss of property and possessions pales by comparison but still must be addressed in the aftermath of such tragedies.

Eleven years ago, my house burned to the ground in the middle of the night. In the midst of my shock and grief, I was forced to deal with the unavoidable details of trying to recall and document every damaged or destroyed item for my insurer. It was in the ashes of my home fire that the seeds for Archival Property Solutions were planted. I was forced to recognize that if I had made a more comprehensive effort to more carefully document my possessions, important papers and confidential data prior to that terrible fire, I would not have felt so powerless in the months that followed.

My house fire drove home the point that such unexpected and devastating occurrences are not only disorienting and overwhelming, they often have enormous price tags associated with them. As I slowly rebuilt my life and my house from the ground up, I vowed to do what I could to leverage the knowledge and skills I gained from my experience to help others minimize their financial loss, emotional turmoil and valuable time lost to recovery and rebuilding activities in the wake of disastrous events. They can then focus on what matters most: comforting family members, rebuilding or repairing their damaged home, and saving, recovering, restoring or replacing their valued possessions.

Today, Archival Property Solutions helps high-net-worth owners and their professional advisors cope with, plan for, protect against, and recover from life’s unexpected events by digitally cataloging their tangible assets and securely storing them for private, confidential access. Then, if a natural disaster, fire or theft results in damage or loss, the road to recovery is smoother, more orderly and less emotionally and financially taxing.

Ultimately, creating a digital catalog of valued property, documents and data is not only practical, it protects the most valuable asset of all: peace of mind.



Click here to see a listing of all Archival Property Solutions blog posts.


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.

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