Total Credits: 1 including 1 CLE
For clients with significant real estate portfolios in their estates, Section 1031 like-kind exchanges can be a very effective tool for deferring gain. Recent tax legislation has scrambled familiar tax, economic, and practical considerations for making a like-kind exchange, in some circumstances making these techniques more attractive than before, but in others (incoming producing property) less attractive. There are also substantial real estate law traps in like-kind exchanges. This program will provide you with a practitioner’s guide to using new like-kind exchange rules in trust and estate planning.
Schedule:
• Trust and estate planning opportunities using Section 1031 like-kind exchanges
• How the 2017 tax law changed conventional considerations of using like-kind exchanges
• Review of major non-estate tax issues for estate planners when using like-kind exchanges
• Circumstances when it no long makes sense to use like-kind exchanges for income-producing party
• Real estate traps when using like-kind exchanges in trust planning
| Handout 1 (371.7 KB) | 31 Pages | Available after Purchase |
| Evaluation Form (33 KB) | 1 Pages | Available after Purchase |
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology.
