Fort Worth-Arlington, TX (1888PressRelease)
February 22, 2008 - Many baby boomers are looking to liquidate the wealth they have accumulated in real estate or their small businesses, but capital gains taxes can reduce their net profit. With a 1031 exchange, the seller exchanges the property for another like property avoiding capital gains tax, but with an exchange they may not eliminate the day-to-day management of an investment property or small business.
Under the agreement, Inspired Group will be able to offer this service to clients who are selling highly appreciated real estate holdings. As an alternative to the 1031 Exchange, advisors will offer property and small business owners the Deferred Sales Trust™ which allows a property owner to defer capital gains over their life time. With additional planning, the DST™ can also remove the asset from the client's taxable estate.
Michael Voynovich, Chairman of the firm, stated “I am excited to offer a great alternative to the traditional and "normal" process of 1031's. Also, those selling a business now have a way to receive a steady and safe alternative for the proceeds of the sale without the risk of the buyer not fulfilling the payout contract. Clients need to look at the trust for their total estate planning picture; this sets them up for potential future "deposits" from additional property sales or other business sales. Business brokers will welcome the DST™ to allow clients to take advantage of the Installment Sale rule saving considerable immediate tax consequences. The DST™ gives clients more choices and flexibility when it comes to the asset management of their sales proceeds housed in the DST™”.
Voynovich also adds…“Regarding the DST™ as a 1031 rescue, clients who have initiated a 1031, but are unable to close on their identified replacement property now have an ‘eleventh hour’ solution thereby saving the client from the tax consequences of the ‘failed exchange.’ The DST™ gives Qualified Intermediaries a way to save the day.”
The DST™ is offered exclusively through the Estate Planning Team, a membership organization based in Palm Desert, CA. Estate Planning Team offers the DST™, and other wealth preservation strategies, through realtors, title insurance representatives, investment advisors and insurance representatives.
The Inspired Group of Companies is an organized group of companies that work together to provide clients with a diversified set of operations offered through either wholly owned subsidiaries or business partners. The company is centered on three related fields: real estate, finance and investments.
For more information, please contact Michael Voynovich of Inspired Group, LLC at (813) 774-4691 or on the web at http://www.selltaxdeferred.com or www.mydstplan.com/inspiredgroup. Or contact: Jeff Kornfeld Estate Planning Team 877-213-8707
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