David Moore of Equity Advantage, nationally recognized leader in 1031 Exchange facilitation, answers how an exchange accommodator can explain how an exchange will affect your heirs. Exchange accommodators can give you important details on the process, but an owner must also pay attention to a few other vital steps.
What planning should I do for a 1031 Exchange?
Once again, it comes back to tax people. My advice to people on this is that an exchange should be discussed with tax people before it’s ever done, not have the first conversation with your tax people come tax return time. So, if there is something that’s going be problematic in a transaction, we will get the information out. We want you to talk to your tax people about it, make sure everyone’s on the same page, pre-April 15th, not way, way after the fact, maybe when an audit occurs. – David Moore, Equity Advantage
If you’re thinking of selling your property, work with a broker who understands 1031 exchanges. Call René Nelson at 541-912-6583.