(Webcast) The Life Cycle of an Art Collector: Tax and Administrative Issues

Wednesday, March 2, 2022 | 10:00 am – 11:30 am

Program Chair:
Paul A. Ferrara
Managing Director and Wealth Strategies Advisor • Bank of America Private Bank

  • 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.

    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.

  • Jacqueline R. Connor
    White & Case LLP

    Darsi Monaco
    Gurr Johns, Inc.

    Lauren J. Rocklin
    Managing Director, Senior Trust Officer
    Bank of America Private Bank

    Kenley Stark
    Withers Bergman LLP

  • 10:00am – 10:05am
    Paul A. Ferrara

    10:05am – 10:20am
    Estate Planning for and with Art; Appraisal Concerns
    Jacqueline R. Connor, Darsi Monaco

    10:20am – 10:30am
    Sale/Leaseback Transactions; Appraisal Concerns
    Paul A. Ferrara, Darsi Monaco

    10:30am – 10:40am
    State Sales and Use Tax Issues
    Kenley Stark

    10:40am – 10:55am
    Charitable Planning; Appraisal Concerns
    Paul A. Ferrara, Darsi Monaco

    10:55am – 11:05am
    Jacqueline R. Connor, Kenley Stark

    11:05am – 11:20am
    Administrative Issues at Death; Appraisal Concerns
    Darsi Monaco, Lauren J. Rocklin

    11:20am – 11:30am

  • New York: 1.5 Professional Practice
    New Jersey: 1.5 General
    California: 1.5 General
    Pennsylvania: 1.0 General

  • Sponsoring Association Committee:
    Estate & Gift Taxation, David E. Stutzman, Chair

    Sponsorship Opportunities are Available! Please Contact:
    Senior Director, Membership & Customer Relations | (212) 382-6685 | abein@nycbar.org