How We Work Together With Attorneys
As an Attorney, you are in a unique position to help your clients above and beyond the legal assistance they hire you for, and you may not even be fully aware of it.
Is your client about to close on the sale of an Investment Property in which they have built up a large capital gain?
Are they aware that they will be immediately responsible for taxes on that gain?
Are they interested in deferring those taxes into the future, but no longer wish to be landlords and therefore are not interested in doing a 1031 Tax-Deferred Exchange?
This is where you can help, and be of immense help to your client.
In addition to the traditional "like kind" replacement properties (apartment buildings, shopping centers, single-family homes, etc.) a lesser-known alternative that the IRS has approved as a "like kind" exchange is a Delaware Statutory Trust, or simply DST.
A DST is, in the simplest sense, a professionally-managed "mutual fund" of real estate. There will be no more phone calls about leaky faucets or broken toilets; no more hunting down tenants for the rent; no more roofs to patch. Everything is taken care of by the company issuing the DST.
A licensed financial advisor is required to discuss DSTs with clients, and we would be happy to match your client with such a professional so that any and all questions may be answered. Of course, you would be an integral part of the team, and generous introduction fees may be offered where permitted.
As with anything else in the financial world, the details must be carefully reviewed and only licensed professionals can offer securities products, including DSTs.
Please click below for our free booklet on DSTs, and feel free to reach out to us with any questions at (775) 7-RETIRE or (775) 773-8473.