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What You Need to Know About Acquiring & Donating a Work of Art
1h 6m
In the increasingly complex world of art acquisition, this panel will examine what the collector/donor should be watchful of in acquiring a work of cultural heritage, to an NFT via crypto. We will hear from an expert in the cultural property arena, where national policy has just required a collector to return $70 million worth of art, to how does the IRS consider an NFT? Additionally, we will be reminded of estate planning and gifting ramifications as well as new tactics by artists to ensure their works are given to various museums.
• Sharon Chrust, Principal, Sharon Chrust & Associates
• Kate Fitz Gibbon, Executive Director, Committee for Cultural Policy
• Pamela L. Grutman, Partner, Olsoff|Cahill|Cossu LLP