Gain an understanding on taxes related to collectables and learn to properly advise your clients when they are adding to or passing on their collectible assets.
This topic will explore what clients need to know about protecting, adding to, and passing on their collectible assets. You will learn how collections can be taxed, strategies for balancing publicity and privacy, how to plan for a collection's future, and when collections can be used as collateral. The material will also discuss when litigation can be helpful.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Income Taxes
Donations During Life
Transfer Taxes: Estate, Gift, and GST Tax
- Donations After Death
Significant Recent Cases
Estate Administration
Valuation
Sales and Use Taxes
Using Opportunity Zones to Build Your Collection
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on September 10, 2020.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Brad S. Cohen
Jeffer Mangels Butler & Mitchell LLP
- Partner with Jeffer Mangels Butler & Mitchell LLP's Taxation and Trusts and Estates Groups
- Represents investors, collectors, artists, galleries and museums in the acquisition, sale, financing, gifting and charitable donations of art and collectibles
- Frequent lecturer on the topic of income, estate and gift, sale and use tax planning for art and collectible assets
- Charitable planning for the donation of art and collectibles
- Written several articles on income, estate and gift, sale and use tax guidance for investors and collectors published by the Los Angeles Lawyer magazine
- Use of the Opportunity Zone program for collectors and investors of art and other collectibles
- President of the Motion Picture Tax Institute and a past chair of the Entertainment-Tax Subcommittee of the Tax Section of the Los Angeles County Bar Association
- Recognized by the Opportunity Zone Magazine as one of Top 25 Opportunity Zone Attorneys for 2020 and recognized as a Southern California Super Lawyer, 2005-2019
- Can be contacted at 310-201-3575 or [email protected]
Megan Ferkel Earhart
Jeffer Mangels Butler & Mitchell LLP
- Associate with Jeffer Mangels Butler & Mitchell LLP's Taxation and Trusts and Estates Groups
- Practice includes estate planning, probate, trust administration and related income, gift and estate tax matters
- Wrote and co-wrote articles on estate planning in the Los Angeles Daily Journal and Los Angeles Lawyer Magazine and lectures to audiences on estate planning, including the Beverly Hills Bar Association, the Jewish Community Foundation and USC Trusts and Estates Conference
- Serves as an Executive Committee member of the Beverly Hills Bar Association, Trusts and Estates Section
- Southern California Super Lawyers Rising Star, 2015-2020, and Southern California Super Lawyers Top Women Attorneys in Southern California, 2015-2018
- LL.M. degree in taxation, with high distinction, Loyola Law School; J.D. degree, Loyola University Chicago School of Law; B.A. degree, with distinction and honors, University of Michigan
- Can be contacted at 310-785-5328 or [email protected]
Anita Heriot
Pall Mall Art Advisors
- President of Pall Mall Art Advisors, a tangible asset management firm
- A nationally sought-after speaker, she has lectured at the Barron’s 100 and 500 Summits; to over 30 chapters of Tiger 21, a high-net-worth learning network; to the investment forum of YPO, the premier leadership organization of chief executives in the world, to bankers, attorneys, insurance specialists and accountants throughout the United States; a member of the Appraisers Association of America and certified to the Uniform Standards of Professional Appraisal Practice (USPAP), she has testified as a specialist witness in major court cases involving art valuations and regularly lectures on topics relating to art, collection, and appraising
- She started her career at Sotheby’s of New York; after spending several years as an independent appraiser, she joined Gurr Johns as an appraiser in its New York office
- Prior to starting Pall Mall Art Advisors, she ran both the British & Continental furniture and decorative arts department and the appraisals department at Freeman’s Auctioneers
- She has appeared on several TV shows and is frequently interviewed by the media for her insights into the art world
- Graduate, Bowdoin University; with advanced degrees from the University of London and New York University
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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