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EST2419
Putting It On & Taking It Off (Planning with No, Low, and “Negative” Basis Assets)
Date
June 6, 2024
$49
Standard Price
This product is also available as part of the following products:
This includes sessions from the conference: Advanced Estate Planning (as part of AICPA & CIMA ENGAGE 2024)
This includes sessions from AICPA & CIMA ENGAGE 2024:
This presentation will discuss innovative tax basis management techniques that strip, shift, create, concentrate, and maximize basis where it can be of most benefit to taxpayers. The discussion will include: (i) maximizing and multiplying the “step-up” in basis; (ii) upstream planning and powers of appointment to create basis; (iii) using partnerships to move basis to where you want it; (iv) the upside of leverage; and (v) novel uses of grantor trusts and disregarded entities in basis management.
Learning Objectives
- Recognize techniques that allow taxpayers to maximize the "step-up" in basis at death and move that basis to another asset.
- Determine when partnerships should avoid a section 754 election to capture and concentrate basis in other ways.
- Identify when to use powers of appointments and upstream planning to get basis from other people.
- Recognize how to use partnerships to do tax free "basis shifting."
Speaker
Paul S. Lee, J.D., LL.M. (Taxation)
Chief Tax Strategist, Northern Trust Company
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