What Attorneys Should Know about Art Collecting: Practical Planning for Art Collectors & Their Advisors


Live Broadcast on October 18, 2017

Art is an asset of passion. Coupled with its unique financial characteristics, this makes it perhaps the most difficult asset to incorporate into a comprehensive wealth and financial plan. This course will discuss collection management best practices as well as provide a summary of the tax and estate planning options available to collectors, including 1031 tax-deferred transactions.

This course is co-sponsored by Wolters Kluwer.

Key topics to be discussed:

•   Unique nature of the art market
•   Collection management best practices, which collectors should practice regardless of the ultimate planning solutions that they adopt
•   Planning options that incorporate tax strategies, including lifetime and testamentary sales or gifts, as well as sophisticated charitable planning

Date / Time: October 18, 2017

•  10:00 am – 12:00 pm Eastern
•  9:00 am – 11:00 am Central
•  8:00 am – 10:00 am Mountain
•  7:00 am – 9:00 am Pacific

Choose a format:

•  Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•  On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.

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K. Eli Akhavan, Esq. is the managing partner of the Akhavan Law Group LLP. Mr. Akhavan advises high net-worth U.S. and international individuals and family offices on their tax, asset protection and estate planning needs as well as on their art collection management. He also provides guidance on business succession planning, asset protection trusts, and charitable planning. Mr. Akhavan’s legal advice is regularly sought in art 1031 exchange matters.

Mr. Akhavan is a widely published author, having written numerous articles on estate planning in general and tax planning for artworks in particular, for publications such as Trusts & Estates, Probate & Property, Tax Stringer and various other publications. He is a member of the American Bar Association’s Art and Collectibles, Tax Planning and Asset Protection Committees. Additionally, Mr. Akhavan frequently lectures on asset protection and estate planning topics and has also served as an adjunct professor at St. John’s University School of Law teaching International Taxation.

Mr. Akhavan has been quoted in the Wall Street Journal and the Washington Post on art law matters.

He received his Bachelors of Arts, magna cum laude, from Columbia University, and his Juris Doctorate as well as a Masters in Tax Law from the NYU School of Law.

Ramsay H. Slugg, Esq. is a Managing Director and member of the National Wealth Planning Strategies Group at U.S. Trust. Previously, he was the National Practice Director of Bank of America’s Philanthropic Management group. He has also served as the Central Region Director of the Bank’s Charitable Management Services Group, and the Central Region Director of the Wealth Management Consulting Group.

Mr. Slugg has also served as an adjunct professor at Texas Christian University and Texas A&M College of Law. He is a frequent speaker on tax and financial planning topics, especially as they relate to art and collectibles, and is frequently quoted in the Wall Street Journal, New York Times, Forbes, Barron’s and other business publications. He is the author of the Handbook of Practical Planning for Art Collectors and Their Advisors, published by the American Bar Association’s Section of Real Property, Trust and Estate Law.

Mr. Slugg is admitted to practice law in Texas, is a member of the State Bar of Texas, the American, and Tarrant County Bar Associations, the Tax and Estate Planning Section of the Tarrant County Bar (Chair, 1999-2000), the Lone Star Chapter of the Partnership for Philanthropic Planning, and the College of the State Bar of Texas. He currently serves as Co-chair of the American Bar Association’s Real Property Trust and Estate Law Art and Collectibles Committee, as well as in several other leadership positions. Mr. Slugg received his J.D. degree from the Ohio State University College of Law, and his undergraduate degree from Wittenberg University.

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myLawCLE will seek credit where attending attorneys are primarily licensed for all of its live webinars and live teleconferences, except in states which allow for reciprocity (see reciprocity section below). Credit for CLE in a self-study format is sought for in most states; however, some states do not allow for CLE credit to be earned in a self-study format (see the self-study section below). Many states typically decide whether a program qualifies for MCLE credit in their jurisdiction 4-8 weeks after the program application is submitted. For many live events, credit approval is not received prior to the program. Credit hours granted are subject to approval from each state.

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On-demand CLE
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Section I. Introduction to the world of art and the unique psychograpic of the collector

Section II. Introduction to case study fact patterns

Section III. Collection management best practices

Section IV. Planning options, from both a tax and non-tax perspective

Section V. Case study solutions

Section VI. Pulling it all together