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Updated 11 months ago,
1031x options for liquidity
Hello. Is there a type of an investment for a 1031x that is liquid within a year?
the reason is my cousin who I am trustee for owns a rental property. My cousin has terminal cancer and is in hospice and will pass away in 6 to 12 months from now.
My cousin has no assets other than this rental. She does not have money for her expenses and is borrowing at a high rate of interest which is becoming impossible
the idea is to sell my cousins rental property take a boot to cover her expenses and the rest ($750,000) do a 1031x. When she passes the asset that was purchased as part of the 1031 would then be liquidated and distributed to heirs with no taxes
The goal is to get her the cash she needs from her asset without paying any/minimal capital gains.
Any suggestions would be helpful
we will hire an expert to manage this transaction. So if you help you will get the job to manage all this :)
Thank you