Steps in formulating a biobank legacy plan. From left to right, steps of biobank legacy planning. Current state assessment involves a detailed assessment of current collection numbers, format and location, and collection duration of biospecimens. Then, a valuation of the collection can be initiated—this includes evaluating the collection case types (disease, treatment, SOPs), matched biospecimens (Box 3) to help assess current outside market interest. Once better assessed, a biobank may have an initial decision to (1) destroy biospecimens or (2) keep and/or transfer biospecimens. This decision would be discussed with the local institutional research ethics board in consultation with other groups (e.g., funders, institutional oversight bodies, pathology departments, and so on). Once a decision has been agreed upon, agreements and documentation can be formulated and signed for further destruction or transfer activities. SOP, Standard Operating Procedures.