Just echoing others here to encourage you to seek legal consultation.

This strategy could help him boost retirement income while avoiding capital gains taxes, but consulting a tax professional or 1031 specialist is essential to navigate the process correctly.

However, the tax benefits of LLCs can vary, so it’s a good idea to consult with a US-based tax advisor.

We are licensed in HI and I would be happy to do a free consultation to see which option makes more sense for you. 

@Sara ValentineI would consult an attorney and/or PM that knows local and federal lawsgood luck!

Feel free to reach out to one and set up a consultation call.

While the support sounds nice, I can buy quite a bit of consultation and legal help for $60K, and that doesn't even figure the royalty.Nothing against the franchises, I spoke with PMI and was impressed with their business model, I just don't like the idea of paying fees to be restricted operationally. 

I would suggest that next time you consult your attorney before making such loans to insure all your ducks are in a row, the hazard insurance policy for example should have been done correctly to begin with.

You will need to consult with a Texas Estate lawyer. 

I own a consulting business.