Best way to approach for tax purposes?

[Tanner Johnson]

I’ll keep it short, I am 22 as of now own 4 doors, my grandfather has several small apartment buildings he is selling off and I am buying one of his 18 unit buildings and it will be done under seller financing terms. He has owned this one for 40 years and it was fully depreciated. The payments towards the property are going to be made to a trust that will be distributed to his children upon death. We are trying to avoid paying capital gains as much as possible. We are both open to creative ideas. We are not getting far with our accountant. If anymore info is needed I will provide asap, thank you!

[David M.]

@Tanner Johnson

Sorry to be morbid, but why not leave the property in the grandfather's name?  The best way to avoid taxes is death...  "death and taxes" ... "swap 'till you drop' 

That would avoid the capital gains tax and depreciation unrecapture.

Otherwise, I think there is a trust setup for this, or something similiar that will need to be finagled.  I just can't remember so late...  You really should speak with an estate planner, not an accountant.