Top Glens Falls, NY 1031 Exchange Lawyers Near You

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Glens Falls 1031 Exchange Information

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Lead Counsel Verified Attorneys In Glens Falls

Lead Counsel independently verifies 1031 Exchange attorneys in Glens Falls 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.

Find a Glens Falls 1031 Exchange Attorney in your area

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 a Glens Falls 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.

When to Hire a Lawyer

It is in your best interest to get legal help early on in addressing your situation. There are times when hiring a lawyer quickly is critical to your case, such as if you are charged with a crime. It may also be in your best interest to have a lawyer review the fine print before signing legal documents. A lawyer can also help you get the compensation you deserve if you’ve suffered a serious injury. For issues where money or property is at stake, having a lawyer guide you through the complexities of the legal system can save you time, hassle, and possibly a lot of grief in the long run.

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.

Tips on Hiring an Experienced Lawyer with 1031 Exchange Cases

The more experienced a lawyer is in legal practice, the more likely he/she will be able to bring about a successful resolution to your issue. Since experience matters, lawyers who’ve been practicing law for many years (with a successful track record) tend to be in high demand. You should look for information about a lawyer’s experience and ask questions during the initial meeting. It’s a very good idea to ask the lawyer how many years he/she has been practicing law and the expected outcome of your case.

Common legal terms explained

Affidavit – A sworn written statement made under oath. An affidavit is meant to be a supporting document to the court assisting in the verification of certain facts. An affidavit may or may not require notarization.

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