"Don't leave it to your heirs to figure out what to do with, or more likely, fight over, all of the mind-blowing art, furniture or jewelry you've amassed. You won't be doing them any favors," said Kaufman. "Sit down and say, 'What are my goals? What do I want to happen to this? Where do I want it to go?'" he added. "You get to what your goal is and then you work backwards."
Kaufman noted that auctions are not the only option and said he advises clients to ask themselves, "Do I want to make gifts now while I'm alive so I have more say in the process and I'm there for the ribbon-cutting [and gratitude] and I get all the accolades?"