Q: We are looking for legal representation on a DST/1031 exchange property issue.
We were hoping you could direct us on how to locate the proper resource who can help us with a DST/1031 investment issue. The current trustee is changing the terms of the investment and at end will dilute our ownership and disqualify any future 1031 tax benefit. I would appreciate any input from you. Hope all is well with you. Thanks much
Need Advice If Possible
Bonnie Lewis
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A:
Finding the right legal representation for a DST (Delaware Statutory Trust) and 1031 exchange issue is important to ensure that your interests are protected. You'll need a lawyer who is experienced in real estate investments, specifically those involving DSTs and 1031 exchanges.
Start by contacting your local bar association for a referral. They can provide you with a list of attorneys who have experience in real estate and tax law, which are key areas in your situation.
Another approach is to reach out to professional organizations or networks focused on real estate investment and tax law. They often have directories of attorneys who specialize in these areas.
When you contact potential attorneys, explain your situation briefly and ask about their experience with DSTs and 1031 exchanges. It's also important to discuss their approach to client communication and legal fees to ensure they're a good fit for you.
Remember, a good attorney should not only have the technical expertise but also understand the practical implications of changes in investment terms and how they impact future tax benefits.
Lastly, act promptly, as real estate investment issues can be time-sensitive, and delays might affect your legal options or the outcome of your issue.
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