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IRC Section 1031 allows sellers of qualifying real estate to exchange  it for like-kind  real estate and defer  payment of taxes. I started with a warehouse and ended with a skyscraper! THE RULES ARE STRICT: 1.      Seller must never take possession of funds from the relinquished property; 2.      Replacement property must be like-kind real estate; 3.      Real estate must be used for investment or business, and not be considered stock in trade or personal property; 4.      P

What's next really matters! Estate planning isn’t only about distributing your house to your heirs. If you own a business, it is also about protecting this most valuable asset. Without proper planning, issues will arise regarding who will take over leadership, whether the business should be sold, or how ownership interests will be managed. Failure to account for these crucial steps can result in the loss of the business or a loss of significant portions of its value. There ar

It started in Fred’s living room, and everyone was excited about the possibilities. Questions about type of entity, shares in the...

I am often asked…What exactly do trustees do after the grantors are no longer able to manage their trust? Well, to put it simply, a...