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How a 1031 Exchange Helps You Build Legacy Wealth

Posted by Chris Peterson | Aug 09, 2022 | 0 Comments

If you're looking for a way to leave a lasting legacy for your heirs, real estate is a great option.

Not only will your heirs receive the properties you pass down to them, but they'll also benefit from any appreciation that occurs over time.

And, if the property generates income, they'll be able to enjoy those benefits as well. Of course, real estate isn't just a way to leave a financial legacy. It can also be a powerful tool for building dynasty wealth.

By investing in income-producing properties, you can create a reliable stream of revenue that can be passed down from generation to generation. In this way, real estate can help you build long-term wealth for your family.

How a 1031 Exchange Helps with the Process

A 1031 Exchange is a way to defer paying capital gains taxes on the sale of property by reinvesting the proceeds from the sale into another “like-kind” property. If done correctly, a 1031 Exchange can provide significant tax benefits for investors.

But those benefits extend down to heirs as well.  When you die, you have the ability to leave your properties--and all of the profits that you've earned over the years—to your heirs tax-free.  They are not required to pay back the capital gains taxes that were deferred as part of the 1031 Exchange process that helped you grow your portfolio along the way.

Getting Assistance

If you have questions about the 1031 Exchange process in general or how to use these tax rules to create legacy wealth for your family, please contact us. Our Qualified Intermediaries are here to offer guidance and assistance to help you grow your portfolio with your future goals in mind. To schedule a consultation, simply call (888) 508-1901.

About the Author

Chris Peterson

Chris Peterson is the owner of Peterson Law Group. He practices primarily in the areas of wills, trusts and estate planning; probate and trust administration; elder law; and business law. Chris is also the owner of Brazos 1031 Exchange Company.

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