Basis Planning and Anomalies with Estate Planning (from Annual Advanced Estate Planning and Administration 2023)

A pre-recorded streaming VIDEO replay of one session from the April 2023 live seminar, Conner-Zaritsky 44th Annual Advanced Estate Planning and Administration Seminar.

Cosponsored with the Wills, Trusts and Estates Section of The Virginia Bar Association

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 on the horizon, 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.