Mini-Seminar & Dinner

Date: Wednesday, November 16, 2022
Time: 5:30pm - 8:00pm
Location: University Club - Main Dining Room
Speaker: Paul Lee

Tax basis and realization are fluid concepts in the world of partnership taxation, especially when one considers the “unitary basis” rule and how grantors, grantor trusts, and disregarded entities are treated as the same taxpayer.  In such a world with potential changes to the treatment of grantor trusts in the future, entities taxed as partnership provide the most sophisticated platform to exchange assets and strip, shift, create, combine, and concentrate basis.  This presentation explores these concepts through the lens of common estate planning situations and the basis conundrum created if section 2036 applies to the partnership.


Paul S. Lee is the Chief Tax Strategist of The Northern Trust Company, within the Global Family & Private Investment Offices Group and Wealth Management division of Northern Trust.  He is an Executive Vice President and Managing Director of the company.  Prior to joining Northern Trust, he was at Bernstein Global Wealth Management as National Managing Director, and a partner in the Atlanta-based law firm of Smith, Gambrell & Russell, LLP.

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