LIVE WEBCAST
The Life Cycle of an Art Collector: Tax and Administrative Issues
Wednesday, March 2, 2022 | 10:00 am - 11:30 am
Online registration is now closed. Please call Customer relations at 212 382 6663 to register or for assistance.
Program Fee:
$79 for Members | $179 for Nonmembers
Members who are Law Students, Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2020-2022), In-House/Corporate Counsel, Judges, and attorneys that practice within the Government, Academic or Not-for-Profit sectors attend this program for free.
CLE Credit:
New York: 1.5 Professional Practice
New Jersey: 1.5 General
California: 1.5 General
Pennsylvania: 1.0 General
Connecticut: Available to Licensed Attorneys
This program provides transitional/non-transitional credit to all attorneys
Description:
A collector of fine art will encounter numerous issues and planning opportunities regarding the taxation and administration of that art, from its initial acquisition, through the holding, sale, and gifting of that art during the collector’s lifetime, to the management and disposition of that art upon the collector’s death. Members of the Committee on Estate and Gift Taxation will offer a fast-paced journey through the lifecycle and beyond of the art collector and will cover topics of import to all collectors and their counsel.
In addition to covering estate planning for and with art, our expert panel will focus on such topics as spousal transfers, fractionalized ownership, the uses of trusts, and post-mortem sales of appreciated art. They will also address charitable planning, state sales and use tax questions, sale-leaseback transactions, special problems regarding nonfungible tokens (NFTs), and administrative issues after the collector’s passing. Throughout the seminar the panel will pay particular attention to the appraisal concerns inherent in each of the above-referenced topics.
Click Here to View Program Agenda & Faculty
Program Chair:
Paul A. Ferrara, Managing Director and Wealth Strategies Advisor - Bank of America Private Bank
Sponsoring Association Committees:
Estate & Gift Tax, David E. Stutzman, Chair