Paul Lechner — Attorney, CPA & LLM in Taxation

Orland/Tinley Park, Illinois — Serving Chicago and the Southwest Suburbs

Paul Lechner Attorney CPA Orland Park IL

Most advisors are one thing or the other. Paul Lechner is both an Illinois attorney and CPA who also holds a Master of Laws in Taxation (LLM), the highest academic credential available in tax law. He is admitted to practice before the United States Tax Court.

That combination is genuinely rare — and it changes the quality of the advice. Legal decisions and tax decisions are rarely independent of each other. When the same person holds both credentials, legal structure and tax consequences are evaluated together, in the same conversation, without the coordination gap that arises when two separate advisors work in parallel. The result is a more coherent plan, a faster engagement, and a lower total advisory cost.

Business, Legal & Financial Experience

Paul acts as outside general counsel to entrepreneurial and closely held businesses, advising on formation, operations, financing, acquisitions, and succession planning. His dual background in law and accounting allows him to deliver practical, financially informed legal solutions that a purely legal or purely financial advisor cannot provide alone.

Prior to founding Lechner Law Group, Paul held senior roles including Managing Director at KPMG LLP and leadership positions with GE Capital, CIT, Trinity Industries, Chicago Freight Car, and Newcourt Capital. His transactional experience spans commercial finance, equipment leasing, and complex business transactions totaling hundreds of millions of dollars across multiple asset classes.

Estate Planning & Tax Strategy

Paul advises individuals and families on comprehensive estate planning including wills, revocable living trusts, irrevocable trusts, and advanced wealth transfer planning. His work encompasses Illinois and federal estate tax planning, gift and generation-skipping transfer tax strategy, Medicaid asset protection planning, and special needs planning for families with disabled beneficiaries.

Because he is both the attorney drafting the documents and the CPA modeling their tax consequences, Paul can evaluate an estate plan’s legal validity and tax efficiency simultaneously — identifying issues that advisors working from a single discipline typically miss.

Education & Professional Leadership

Paul holds a Juris Doctor (JD), Master of Laws in Taxation (LLM), and Master of Business Administration (MBA) from DePaul University, and an undergraduate degree in Accounting from Saint Joseph’s College. He is an Adjunct Professor at Saint Xavier University and Governors State University, teaching graduate-level business and management courses. Paul is a past President of the Illinois Chapter of the Financial Planning Association and has served in leadership and advisory roles across legal, financial, and real estate organizations in the Chicago area.

One Advisor. Two Disciplines. Better Outcomes.

The following table illustrates where the dual credential produces materially different advice than either credential alone.

Task or Question	Attorney only	CPA only	Attorney + CPA + LLM
Draft a will, trust, or power of attorney	✓	—	✓
Advise on Illinois and federal estate tax	— limited	✓	✓
Model after-tax proceeds of a business sale	—	✓	✓
Draft the purchase agreement for a business sale	✓	—	✓
Design a Medicaid asset protection plan	— limited	—	✓
Represent client before the US Tax Court	— unless admitted	—	✓
Evaluate asset vs. stock sale tax differential	—	✓	✓
Structure and document a 1031 exchange	— limited	— limited	✓
Select business entity (legal + tax analysis)	— limited	— limited	✓

Where the Difference Shows Up in Practice

Estate Plan for a Business Owner

Single-credential gapThe attorney drafts a revocable trust that avoids probate. No one analyzes the Illinois estate tax exposure on the $5.5M estate — or that a business interest could have been transferred to an irrevocable trust years ago at a fraction of today’s value.

Dual-credential resultLegal documents and Illinois estate tax modeling happen simultaneously. The bypass trust is sized correctly, the business interest is addressed in the succession plan, and the life insurance structure is designed to fund the tax liability.

Sale of a Closely Held Business

Single-credential gapThe CPA models the asset sale vs. stock sale but cannot draft the purchase agreement or advise on the legal enforceability of the earnout or non-compete provisions.

Dual-credential resultThe after-tax economics of deal structure are modeled and the transaction is documented by the same advisor — who understands both the tax cost to the seller and the legal enforceability of each provision.

1031 Exchange

Single-credential gapThe attorney handles the closing documents but does not flag that a tax return extension is needed to preserve the full 180-day exchange period. The investor misses the deadline and the deferred gain is immediately taxable.

Dual-credential resultLegal documentation and tax compliance deadlines are managed together. The exchange is structured correctly from the outset and the deferred gain is preserved.

Medicaid Planning

Single-credential gapThe elder law attorney recommends an irrevocable Medicaid trust. No one analyzes the income tax consequences of transferring appreciated real estate into the trust, or the Medicaid estate recovery implications of the existing revocable trust.

Dual-credential resultThe Medicaid trust is designed with full awareness of the income tax, capital gains, and estate recovery implications. The overall estate plan is updated to coordinate all the moving parts.

Business Entity Selection

Single-credential gapThe attorney forms an LLC. The self-employment tax cost on the owner’s $250,000 annual income is never analyzed. Three years later the CPA points out that an S-corp election could have saved $12,000 per year.

Dual-credential resultEntity structure is analyzed on both legal and tax dimensions at formation. The S-corp election is evaluated before the first dollar of income is earned, not three years later.

IRS Dispute

Single-credential gapThe CPA understands the return but cannot represent the client in Tax Court. A separate attorney must be engaged and brought up to speed on the financial details before the matter can proceed.

Dual-credential resultThe same advisor who prepared and understands the return is admitted to the US Tax Court and can take the case through every stage of the IRS dispute process without a handoff.

Services & Fees

General Counsel Services

We serve as outside general counsel to privately owned businesses, providing ongoing legal, tax, and strategic guidance. Engagements are typically structured on an hourly or monthly retainer basis.

Real Estate Law

We handle commercial and residential real estate transactions including contract negotiation, diligence, and closing. Residential transactions are generally offered on a fixed-fee basis; commercial matters are billed hourly.

Business Transactions & Succession Planning

We advise on acquisitions, sales, and strategic growth initiatives including financial diligence and transaction structuring. Engagements may include hourly fees, retainers, and success-based components.

Estate Planning

Once your initial review and recommendation process is complete and all information necessary to effectuate your planning has been obtained, an estimate will be provided. Our estimated fees will depend upon the type and complexity of the planning being developed, the asset mix, the extent of tax planning involved, and other factors. It is impossible to estimate a fee until we have the Client’s personal and financial information, know the Client’s estate planning goals and objectives, and have an opportunity to discuss various estate planning alternatives. For your planning purposes, the complexity of your Family’s fact situation will determine your legal fees.

Tax & Investment Planning

Our integrated planning approach combines legal, tax, and financial strategy to help clients achieve long-term objectives. Fees vary based on complexity and scope.

Estate & Trust Administration

We provide probate and estate administration services, with fees based on the complexity and scope of each matter.

Civil Litigation

We represent clients in Illinois courts in business, real estate, and probate-related disputes. Services are billed hourly with an initial retainer.

Equipment Finance (Rail & Aviation)

We provide specialized legal counsel in equipment leasing and finance transactions, including rail and aircraft investments.

Schedule a Consultation Call (708) 460-6686

“It’s unwise to pay too much, but it’s worse to pay too little. When you pay too much you lose a little money — that is all. But when you pay too little, you stand to lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot — it can’t be done.”
— John Ruskin (1819–1900)

Practice Areas

Paul Lechner provides integrated legal and tax counsel across a broad range of practice areas. Because legal and tax issues are rarely isolated, the ability to analyze both in the same conversation — under one roof — consistently produces better outcomes for clients.

Estate Planning & Probate Corporate & Business Law Business Succession Planning Tax & Financial Planning Real Estate Law 1031 Like-Kind Exchange Special Needs Trusts Civil & Tax Litigation Commercial Finance Financial Due Diligence

Frequently Asked Questions

What is the practical benefit of working with an attorney who is also a CPA?

The benefit is integration. Legal and tax decisions are rarely independent of each other. An estate plan that is legally sound but tax-inefficient is only half a plan. A business transaction that is tax-efficient but poorly documented exposes the client to legal risk. When the same advisor holds both credentials, they can draft the document and model its tax consequences in the same conversation — without the gap that arises when two separate professionals have to coordinate. For estate planning, business transactions, and tax strategy, this produces better outcomes and fewer surprises.

What is an LLM in Taxation and why does it matter?

An LLM (Master of Laws) in Taxation is a graduate law degree focused entirely on federal and state tax law, typically earned after a JD. It is the highest academic credential available in tax law and is held by a small percentage of practicing attorneys. The LLM curriculum covers the Internal Revenue Code in depth — including the tax treatment of trusts and estates, partnerships, corporations, and tax procedure. Combined with a CPA license and decades of practical experience, it means that tax advice is grounded in both the statutory law and the accounting practice, not a general legal opinion from someone whose tax training ended with a single survey course in law school.

Is Paul Lechner admitted to practice before the US Tax Court?

Yes. Admission to the United States Tax Court requires a separate application and written examination administered by the Tax Court itself — it is not automatic for licensed attorneys. Paul Lechner is admitted to practice before the US Tax Court, which means he can represent individual and business clients through IRS examination, IRS Appeals, and Tax Court proceedings without requiring a separate Tax Court specialist for the litigation phase.

Does working with a dual-credential advisor cost more?

Not necessarily — and in many cases the total advisory cost is lower. When legal and financial analysis are provided by separate professionals, the client pays for both advisors plus the time each spends coordinating with the other. When both credentials are held by the same person, the engagement is faster, the communication is more direct, and there is no gap between the legal structure and the tax analysis. The quality of the advice is typically higher because both dimensions are evaluated together from the outset.

Does Lechner Law Office take on new clients?

Yes. The firm serves individuals, families, business owners, and private investors throughout Orland Park, Tinley Park, and the Chicago southwest suburbs. The firm operates as a long-term advisor rather than a transactional law firm, so most client relationships are ongoing rather than single-matter engagements. To start a conversation, call (708) 460-6686 or schedule a consultation online.