Have a Tax Question? Ask a Tax Expert
Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. CPA,PFS,QFP,GMMA.
You can do a 1035 exchange . The answer to your question 1035 vs invest depends on the following:
1. when you retire in 10 years will you need income from this?
2. How much?
3. Will you need the 800k?
4. Will that 800K be needed for estate taxes?
5. Do you have nursing home insurance?
6. if you do buy or invest in whose name will it be?
With answers I can better help explain.
There are a/b trusts, family partnerships, life insurance, etc.
As a CPA who also has the PFS designation for financial planning I suggest you speak to a financial planner, tax accountant, and estate attorney. This team will MORE than pay for itself in terms of tax savings, financial security, and peace of mind.
You need 'financial checkup" and this is not the place to do it. My job here is to get you started down the right road.
Hopefully, in your case, with these assets, you are on the way.
If this does not answer your question please let me know. Also let me know if you have additional questions.
This is my full time job and I only get paid if you accept my answer. We work on the trust system at JA.
If you understand my answer and have no more questions, please accept and please eave positive feedback (if so inclined). Thank you.
Do you have any other questions? Please let me know via a yes or no. Thank you.