Leaders List interview: 60 seconds with Darcy M. Katris, Morrison Cohen
This week’s 60-second piece is dedicated to Darcy M. Katris, Partner & Family Office Group Co-Chair at Morrison Cohen. Darcy is a judge in the 2024 New York Powerwomen awards.
Tell Citywealth’s readers about your role.
I’m a partner in Morrison Cohen’s Individual Clients Services Group and Co-chair of its Family Office Group.
What does a typical day look like for you?
On a typical day I have meetings, calls and numerous e-mails to respond to during business hours. After business hours, I am able to focus on getting my work done.
Tell us about interesting client instructions.
I recently handled an audit of a Federal estate tax return. The IRS agent asserted that the amount paid directly to vendors by the decedent for her daughter’s wedding was a taxable gift. We could find no precedent for the IRS’s position and the client would not agree to it. I drafted and filed a petition in the U.S. Tax Court challenging the IRS’s position
What challenges do your clients face and how are you helping your clients to overcome them?
The challenge facing my clients is how to pass their wealth to the next generation while minimizing transfer tax. I engage in sophisticated estate planning to help my clients achieve their goal.
What is your proudest professional achievement?
I represented the estate of Robert H. Ellsworth, who was a major collector of Asian Art. I worked with Christie’s to bring the collection to auction which was conducted over a two week period with proceeds of $140,000,000.
What do you consider to be the most important attributes for a leader?
I believe a leader needs to be a good listener, communicator and problem solver.
Who do you admire and why?
Barack Obama. I believe he is visionary, positive, unifying, humble, a great communicator and a class act.
Where was the last place you travelled to for work or pleasure?
In April I attended the New York State Bar Association’s Trusts and Estate Law Section’s annual meeting in Miami, Florida. I am on the Executive Committee of the Trusts and Estates Law Section and Chair of its Technology Committee.
If you weren’t in this industry what else might you be doing?
I have a bachelor of science degree in chemistry so I could have ended up practicing in the intellectual property space.
How do you relax after a long day?
After a long day, I either read a book or listen to music.
Darcy is a judge in the New York Powerwomen awards – submit or read more here https://www.citywealthmag.com/powerwomen-awards-about/
Leaders List interview: 60 seconds with Adam West, Gateley Legal
Citywealth speaks to Adam West, private wealth partner at Knights, who leads Knights’ national private client tax advisory team.
Leaders List interview: 60 seconds with Barbara Corbett, Corbett Le Quesne
Citywealth speaks to Barbara Corbett, senior partner of the firm Corbett Le Quesne, which she manages together with Nicholas Le Quesne.