1031 Exchange Attorney | Serving Fountain Hills, AZ
Section 1031 of the United State Tax Code provides that when property held for productive use in a trade or business or for investment and is exchanged for the same kind of property, the capital gains can be deferred.
Claiming a 1031 exchange can be complicated, and you must comply with several requirements. Consulting a a Fountain Hills attorney who is experienced filing 1031 Exchange applications can ensure the best result possible. The lawyer will determine what property qualifies, if you are eligible, and can assist you in filing the necessary documents.
In legal practice, experience matters. An experienced attorney will likely have handled issues similar to yours many, many times. Therefore, after listening to your situation, the attorney should have a reasonable idea of the time line for a case like yours and the likely resolution.
An attorney consultation should provide you with enough information so that you can make an informed decision on whether to proceed with legal help.
In general, how much an attorney costs will often depend on these four factors: billing method and pricing structure, type of legal work performed, law firm prestige, and attorney experience. Depending on the legal issue you are facing, an attorney may bill you by the hour, settle on a flat fee, or enter into a contingency fee agreement. The type of legal work you need help with will also play a role in cost incurred.
Pro se - This Latin term refers to representing yourself in court instead of hiring professional legal counsel. Pro se representation can occur in either criminal or civil cases.
Statute - Refers to a law created by a legislative body. For example, the laws enacted by Congress are statutes.
Subject matter jurisdiction - Requirement that a particular court have authority to hear the claim based on the specific type of issue brought to the court. For example, the U.S. Bankruptcy Court only has subject matter jurisdiction over bankruptcy filings, therefore it does not have the authority to render binding judgment over other types of cases, such as divorce.
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