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

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

• Description
• Faculty
• Agenda
• CLE Credit
• Sponsors

• 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
  Introduction
  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
  NFTs
  Jacqueline R. Connor, Kenley Stark

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

  11:20am – 11:30am
  Q&A
  Panel

• 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