Attorney Rob Wood, a frequent guest and contributor to The Settlement Channel and LBN joins Mark Wahlstrom in a podcast interview to discuss the recent ruling by the U.S Treasury and IRS to essentially kill private annuity trusts as a means of tax deferral on real estate sales.
As most listeners are aware, Rob Wood is one of the nations leading experts on taxable damage issues, and also on the tax issues that surround the use of structured sales, or structured installment sales, that utilize the Allstate and now Prudential annuity products. In this podcast Rob goes into what the Treasury was trying to do in ending the use of private annuity trusts, what the impact is for accountants, attorney's and financial advisors, and how this ruling will likely create far greater demand for structured sales annuities to fund installment sales.
Few options exist for people looking to roll capital gains into future years other then 1031 exchanges or TIC plans, and each of those options is also under intense scrutiny by the IRS for abuse and misuse. What is becoming clear is that the conservative, guaranteed and simple design of the structured sale is going to likely cause it to be the preferred method to defer gains, so you really do need to listen to this podcast to get up to speed.
Also, if you want to follow information on structured sales you can always visit my site at Wahlstrom & Associates and read in more detail about the product, developments in the law and how it is being applied in real estate sales.