In this edition of ‘Living Akamai’, Kay Mukaigawa of Engel and Volkers Honolulu has done a lot with the senior community and provides information to educate their families. 

“Yes, transitioning a senior is a big decision for any family and often involves real estate. Recently we’ve been able to help a friend in transitioning his Mom into a Senior community permanently. Since she was in and out of a couple of communities, the first step was to identify the best community that would be most comfortable for her.  Then helping to sell Mom’s property using a 1031 exchange without paying any taxes while providing monthly income to pay for the costs associated with mom’s care. On this situation, my friend’s mom moved out of her home so we were able to roll over the gains (or profit) from her home, using a 1031 Tax deferred exchange.  It is a lot of information, but a 1031 tax deferred exchange can be a powerful tool. It makes us feel good when we meet with a family and are able to relieve their stress and anxiety by sharing smart strategies that could change their lives. We’re happy to meet one on one in person, virtually or maybe our best option is to attend a Saturday Seminar we hold twice a month at our Stadium Mall Learning Center.”

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