A Capital Gains Bypass Trust is created to eliminate Capital Gains Taxes which can now total as much as 33.8% of your gain! This could cost you hundreds of thousands or even millions of your hard earned dollars.
Here is how to do this. First, a trust attorney will need to create a bypass trust for you. After it is created you will quitclaim the property in to the trust. Next you sell your property and all of the proceeds (less closing costs) go in to the trust account. Since you are donating to a bypass trust, you DO NOT owe any capital gains taxes to Uncle Sam.
You then receive an annual distribution for the remainder of your life at which time the remaining balance is donated to a charity. However, you can designate an income beneficiary to continue receiving disbursements up to 20 years after you pass. This can be your children, family members, or whomever you designate. Download the Capital Gains Bypass Trust flyer to read more about this in detail.
Selling Off Market means selling to a buyer without doing a traditional MLS listing. For example, you can sell your building direct to a friend, you don’t list it, you just sell it. Or perhaps an investment broker like me brings you an offer direct from a well-qualified buyer without going through the normal MLS route. Selling this way is a strong a trend in our market and it might benefit you. Download my “Sell Off Market” flyer for more information on this subject.
Are you interested in trading up to a larger property? A 1031 tax deferred exchange is the perfect vehicle to do this. The IRS allows sellers to sell an investment property and reinvest the proceeds to a more expensive property while deferring any capital gains taxes that may be due.
I have helped investors do many exchanges in my 30-year career. If you think an exchange might be right for you, give me a call at (310) 308-3174 and I will walk you through how to properly set up an exchange.
Are you the executor or administrator for a probate estate? Perhaps you are the successor trustee of a living trust. If you are and you are responsible for selling any inherited property and distributing the proceeds to the heirs, I can help you.
I am an expert on selling inherited property. Whether it is a probate or a trust property I have the experience and knowledge to get the job done for you. I know the LA County Superior Court System. I have worked with many probate attorneys. I know all the arcane rules of the probate system. For more information and advice take a look at my inherited property website at www.ProbateScout.com.
In this latest market upswing your property may be worth significantly more if it has certain characteristics. Lot size, zoning, location, orientation, and other factors will determine if your property is desirable for development. My team of architects and builders will help determine if it has development potential and how to best maximize the value if it does.
Take the property I sold at 710 California Venice. My client took her fixer duplex worth about $1.4 million, entitled it for a luxury compound, and I sold it for $2 million, way more than it would have sold as a fixer. If you have an older fixer property it very well may be worth more to a builder. Call me at (310)308-3174 and let’s find out!
Here is a quick document that I wrote for rental property sellers. It details how to do everything right when it is time to sell. I think you’ll find it helpful.