1031 Exchange Attorney | Serving Valentine, NE
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 Valentine 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.
An attorney can often resolve your particular legal issue faster and better than trying to do it alone. A lawyer can help you navigate the legal system, while avoiding costly mistakes or procedural errors. You should seek out an attorney whose practice focuses on the area of law most relevant to your issue.
An experienced lawyer should be able to communicate a basic "road map" on how to proceed. The lawyer should be able to walk you through the anticipated process, key considerations, and potential pitfalls to avoid. Once you've laid out the facts of your situation to the lawyer, he/she should be able to frame expectations and likely scenarios to help you understand your legal issue.
Experience. Regardless of the type of legal matter you need help with, an experienced attorney will usually be able to get you better results.
Competence. Determine an attorney's expertise by asking about their track record for the issue you need help with resolving.
Fit. There are plenty of good attorneys out there; make sure you find one you are comfortable working with.
Plaintiff - a person or party who brings a lawsuit against another person(s) or party/parties in a court of law. Private persons or parties can only file suit in civil court.
Judgment - A decision of the court. Also known as a decree or order. Judgments handed down by the court are usually binding on the parties before the court.
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