Archive note, October 2026: This post reported on a Wall Street Journal article about a bill proposed in the Senate to revive tax incentives for giving shares of an artwork to museums over time. It opens and closes with the firm's description of its art law practice group as of that time, and it gives no date.

Today, attorney Aaron Resnick of Law Offices of Aaron Resnick advises artists, galleries and collectors on copyright, sales and consignment contracts, and authenticity and ownership disputes; that work is on the firm's art law page.

The Law Offices of Aaron Resnick is extremely proud to have developed a practice group focusing on art and cultural property law. The firm handles all types of art litigation and alternate forms of dispute resolution, and also actively represent and counsel clients in corporate and commercial art law matters.

The Wall Street Journal has an update on a proposed bill in the Senate (Schumer – NY) to revive tax incentives for fractional gifting of art to museums. Read the article read the Wall Street Journal article. Senator Schumer's proposed bill can be read read Senator Schumer's proposed bill.

Sen. Schumer hopes to “restore the incentive for collectors to share these works of art with the public,” he said.

Senator Charles Schumer's 2009 proposal would have allowed up to 20 years to complete a qualifying fractional gift, or until the donor's earlier death, and would have changed how later gifts were valued.

In the post's example, a qualifying first gift of 10 percent of a $10 million painting would have a value of $1 million; the allowed deduction would still depend on the applicable requirements. Under the proposal's formula, a later 10 percent gift after the painting rose to $12 million would be valued at $1.08 million, using the donor's remaining 90 percent interest; that valuation would not by itself establish the allowed deduction.

In February 2009, Senator Patrick Leahy, with Senator Charles Schumer as a cosponsor, introduced a separate bill that would have allowed fair market value deductions for qualifying donations of works created by the donor, subject to appraisal and other requirements. This bill was introduced in February and sent to committee.

Non-litigation art lawyers at the Firm include trust and estates lawyers who advise visual artists and their estates on taxation and estate planning matters such as setting up foundations and donating works of art to museums.

Send the parties, the problem and the next date; the firm reviews every inquiry and tells you whether it can help.

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Aaron Resnick has handled business disputes in Miami since 1998 and is a fourth generation Miami attorney. He works hands-on on every case; the client gets Aaron on every major litigation issue, not a junior partner. The Law Offices of Aaron Resnick represents large corporations, Miami businesses and their owners, professional athletes and entertainers in Miami Dade, Broward and Palm Beach counties and across Florida in business litigation and business counsel. Call 305-672-7495 or request a consultation.

This page provides general information and is not legal advice. Prior results do not guarantee or predict a similar outcome.

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