1031 exchange advice

[Tyler Santos]

I’m looking for some advice about 1031 exchanges. My grandfather in Massachusetts is going to sell his house to take advantage of the tax break he gets since he lost his spouse (my grandmother). He’s 89 years old and wants to travel and live out the remaining years of his life by traveling and enjoying himself. The house, however, is a 4 bedroom 3.5 bath, 3,500 sq. Ft house on Nantucket Island and was recently appraised at 1.7 million. I’m wondering, and I hope this doesn’t come across as shrewd or greedy, is there a way he can get what he wants without selling the house or at least parlaying it into something bigger than he could leave behind to his grandkids and that we could benefit from for the next however many years/generations. Maybe a 1031 exchange is way off base but there has to be something better than selling a house of that size and value on and Island that has very high appreciation rates. Any advice/ideas/suggestions would be greatly appreciated!