Top Addison, NY 1031 Exchange Lawyers Near You
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Harter Secrest & Emery LLP
1031 Exchange Lawyers | Serving Addison, NY
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Welch & Zink
1031 Exchange Lawyers | Serving Addison, NY
Addison 1031 Exchange Information
Lead Counsel Verified Attorneys In Addison
Lead Counsel independently verifies 1031 Exchange attorneys in Addison by conferring with New York bar associations and conducting annual reviews to confirm that an attorney practices in their advertised practice areas and possesses a valid bar license for the appropriate jurisdictions.
1031 Exchange
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.
Consult a 1031 Exchange Lawyer
Claiming a 1031 exchange can be complicated, and you must comply with several requirements. Consulting a an Addison 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.
Top Questions to Ask When Hiring an Attorney
- How many years have you been practicing law? How long have you practiced law in the local area?
- How many cases similar to mine have you handled in the past?
- What is the likely outcome for my case?
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.
Top Questions to Ask a Lawyer
- What is the usual process to resolve my case? How long will it take to resolve this?
- What are likely outcomes of a case like mine? What should I expect?
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.
Does firm size matter?
For most consumer legal issues, the size of the practice is much less important than the experience, competence, and reputation of the attorney(s) handling your case. Among the most important factors when choosing an attorney are your comfort level with the attorney or practice and the attorney’s track record in bringing about quick, successful resolutions to cases similar to yours.
Common legal terms explained
Personal jurisdiction – Requirement that a particular court have authority over a person, in order to bind that person to the judgment of the court, based on minimum contacts. International Shoe Co v. Washington is a landmark Supreme Court case outlining the scope of a state court’s reach in personal jurisdiction.