Real estate is often considered one’s residential or rental property. But as we age, real estate can become a burden. If this is you, you’re not alone.
Meet “Mrs. Lee,” a longtime homeowner who finds her home is too big and too much work to maintain. She receives support from a real estate planner who helps her understand her options and she learns ways to transition to a more stress-free lifestyle.
“Mrs. Wong,” is concerned about capital gains taxes and her kids fighting over inheritance. She’s been told that 70% of families will fight after their parents pass away. So she removes the burden of the rentals by selling them and creates a plan to eliminate capital gains taxes with a 1031 exchange. She is ecstatic that she can remove the potential family disputes.
“Mr. Smith” is tired of the worry of his rentals and dreams of a stress-free retirement. Collaborating with his real estate planner, he sells his rental via a 1031 exchange and replaces it with a Delaware Statutory Trust (DST), achieving financial freedom, reducing property management hassles and avoiding capital gains taxes.
The moral of these tales: With the right guidance, a real estate plan can help seniors achieve financial security and peace of mind.
THE IHARA TEAM — KELLER WILLIAMS HONOLULU (RB-21303)
1347 Kapiolani Blvd. #300, Honolulu, HI 96814
808-754-2225 | ihara@iharateam.com
iharateamhawaii.com
Each office independently owned and operated.
Leave a Reply