Inspired Group, LLC OFFERS CAPITAL GAINS TAX SOLUTION AND 1031 EXCHANGE ALTERNATIVE
Released on: February 21, 2008, 2:18 am
Press Release Author: Jeff Kornfeld
Industry: Financial
Press Release Summary: Inspired Group, LLC will partner with Estate Planning Team, a national marketing organization based in CA, to offer its clients this IRS-accepted strategy designed to help high net worth individuals preserve their wealth.
Press Release Body: 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 TrustT which allows a property owner to defer capital gains over their life time. With additional planning, the DSTT 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 DSTT to allow clients to take advantage of the Installment Sale rule saving considerable immediate tax consequences. The DSTT gives clients more choices and flexibility when it comes to the asset management of their sales proceeds housed in the DSTT".
Voynovich also adds."Regarding the DSTT 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 DSTT gives Qualified Intermediaries a way to save the day."
The DSTT is offered exclusively through the Estate Planning Team, a membership organization based in Palm Desert, CA. Estate Planning Team offers the DSTT, 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
Web Site: http://www.selltaxdeferred.com
Contact Details: contact: Jeff Kornfeld Estate Planning Team 877-213-8707