Joseph Hirsch from Globalview Advisors attended the Estate Planning and Trust Council of Long Beach (EP&TCLB) event on “Tax Planning in Regard to Real Estate” in Long Beach. The event featured speakers Chuck McLucas, President and Founder of Charitable Trust Administrators, Inc., Accounting and Trust Administration Company; Christina Nielson, MBA, President of Corcapa 1031 Advisors; and Charles Tiano, Director of Client Relations at Forever Forests.
Chuck McLucas spoke on “The Charitable Trust—A Powerful Way to Help Family and Charity!” He has extensive experience in tax and financial planning for high net worth clients; founded, developed and sold two CPA firms and one Trust Administration firm over the past 45 years and has grown a fourth; provided professional investment management services via two RIA firms for over 33 years; established and developed the Redding, California branch of one of the firms managed over $50 million in assets; and is proficient in tax review and preparation of 5227, 1041, 1040, 1120, 1120s, 1065, 706 and 709. His client base has ranged from 150 to 850.
Mr. McLucas’ presentation included:
- Learning and applying the basics of CRT’s;
- Reasons for selling appreciated assets;
- Obstacles to selling real estate; and
- Charitable solutions and alternatives processes.
Christina Nielson spoke on “How Fractional Real Estate and Delaware Statutory Trusts.” She has exclusively focused on Delaware Statutory Trust (DST)/Tenantin-Common (TIC) investments for 1031 tax deferred exchanges and Direct Investment programs since 2004. She works closely with national investor clients to find solutions which meet their investment objectives. Christina has also helped investors close over 400 real estate transactions in her 13 year career, for clients residing in 23 states. Corcapa 1031 has offices in Southern California as well as New York City to serve clients throughout the United States. Ms. Nielson is a General Securities Principal (Series 24 Registration) along with holding the Series 7 and Series 63 Registrations. Additionally, she is a licensed California Real Estate Broker, an active member of the Real Estate Investment Securities Association (REISA) and was nominated for the ACE Award, the industry’s honor for Registered Representatives. Christina also holds the Certified Realty Investment Associate (CRIA) designation given by the Real Estate Investment Association of California (RIAOC), MLS member of The Pacific West Association of Realtors (PWAOR) and is an active member an invitation only national network of trusted advisors.
Ms. Nielson spoke on how fractional real estate and Delaware statutory trusts can create solutions to 1031 exchange dilemmas such as:
- Due diligence and closing issues by providing back up identification properties;
- Debt needs, and the easy to assume non-recourse loans for those trying to eliminate debt boot; and
- Leftover funds and the very flexible investment amounts so as to use 100% of 1031 exchange proceeds.
Each offering memorandum (also known as a PPM) detailed the property offering, its risks and potential benefits. Some of the benefits of fractional ownership real estate investments are:
- Diversified participation in many real estate programs; different asset classes and cities around the country;
- Attractive projected cash flow and potential upside appreciation;
- Potential tax sheltering to income via depreciation;
- Non-recourse loans and no personal loan guarantees; and
- Professional property and asset management in each investment allowing investors to be passive owners.
Mr. Charles Tiano spoke on “Saving Land Saves Tax Dollars.” Charles has a strong understanding of how individuals value trust and commitment to the United States of America. He proudly served his country with the United States Marine Corps and believes in the need to conserve land in this great nation. He has a strong and proven background in the financial services industry. He has served years partnering up with such companies as UBS in Chicago, Lightstone Securities Real Estate Investment Trusts helping investors have a positive and rewarding experience. He has also worked for Royale Energy, a Natural Gas Explorer and Producer to help investors realize the need to build domestic energy independence. He worked for Everbank assisting Independent Financial Advisors with their clients banking needs. He also worked with Centaurus Financial in Orange, California, where he focused on inside sales growth and marketing.
With a goal to help and provide people to understand their financial future, Charles Tiano made a commitment to himself to never be a stranger to anyone. Since he was a young boy, Charles held a great passion for understanding how numbers work and how money commands global power. He found a way to bridge his two greatest passions together by weaving his love for people and financial responsibility into one force.
He is a direct service provider in the management of private conservation initiatives. This finds expression in three ways of direct consulting services, the select reserve, and networking with landowners.
EP&TCLB was organized for the purpose of promoting cooperation and sharing of knowledge among attorneys, CPA’s, financial planners, trust officers, and insurance advisors who are active in the field of estate planning or trusts. Membership is also open to other financial services professionals who take an active role in estate planning on behalf of their clients. All members are required to have at least five year’s experience in their profession.