ESTATE PLANNING COUNCIL OF NORTHERN NEVADA

Please join us on Tuesday, March 13, when Paul Lee will speak on the interplay and often opposing goals of income and estate tax planning.

The American Taxpayer Relief Act of 2012 has "permanently" changed the estate planning landscape.  Planning will increasingly focus on tax basis management and the intersection of the income and estate tax (namely, the "step-up" in basis).  This presentation will discuss:

* How ATRA will necessitate a significant change in perspective for estate planners, making planning infinitely more complicated.
* How estate plans across the country will be radically different based on state of domicile.
* The importance of retaining client's applicable exclusion amount and maximizing the "step-up" in basis at death.
* The income tax nature of different types of assets and how this will change how they will be used in the planning process.
* Techniques to multiply the applicable exclusion amount.
* The importance of income tax planning and managing tax basis in the estate planning process and specific techniques to consider for clients.
* Using partnership elections, distributions, and reorganizations to maximize the "step-up" and "split" income across taxpayers.
 

Paul S. Lee is a National Managing Director of Bernstein Global Wealth Management, a position he assumed in 2006; he is also a member of the firm’s Wealth Management Group, which he rejoined in 2008. Previously, he had been a managing director in the London and New York offices.

Prior to joining the firm in 2000 as a Wealth Management Group director, he was a partner in the Atlanta-based law firm of Smith, Gambrell & Russell, LLP. Mr. Lee received a BA, cum laude, in English and a BA in chemistry from Cornell University, and a JD, with honors, from Emory University School of Law, where he was notes and comments editor of the Emory Law Journal; he also received an LLM in taxation from Emory University. Mr. Lee was the recipient of the Georgia Federal Tax Conference Award for Outstanding Tax Student and the Ernst & Young Award for Tax and Accounting.

A frequent lecturer and panelist on investment planning and tax and estate planning, Mr. Lee has spoken at the Heckerling Institute on Estate Planning, ACTEC National Meeting, Southern Federal Tax Institute, USC Institute on Federal Taxation, Southern California Tax & Estate Planning Forum, Notre Dame Tax and Estate Planning Institute, and AICPA National Tax Conference. His articles have been published by The ACTEC Law Journal, BNA Tax Management Estates, Gifts & Trusts Journal, BNA Tax Management Memorandum, The Practical Tax Lawyer, Major Tax Planning, Trusts & Estates and the Emory Law Journal.