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1031 Exchange

A 1031 exchange allows a real estate investor to defer capital gains tax as well as facilitate significant portfolio growth and increased return on investment. State Bank of Herscher can act as your Qualified Intermediary as part of the like kind exchange process.

We will work with you, your attorney, and the title company so that your exchange complies with the safe harbor provisions of the Internal Revenue Code.

Please contact Randy Chaplinski at 815-421-4800 for more information.

Illinois Land Trust

An Illinois land trust is a method of holding title to real estate. The land trustee (State Bank of Herscher) is the owner according to the public record at the County Recorder’s office. The beneficiary of the land trust retains the ability to enjoy all the rights and responsibilities of owning the property. The beneficiary has the right to end the trust at any time and transfer the property out of the land trust, as well as the ability to direct the trustee in writing when to act and what actions to take in relation to the property.

Illinois land trusts offer a number of benefits, including privacy, probate avoidance, transfer of partial interests, and ease of conveyance where multiple owners are involved, to name a few.

Please contact Randy Chaplinski at 815-421-4800 for more information.

Forms for 1031 Exchanges and Land Trust

The following forms can be downloaded and filled out for your convenience.

You will need to download Adobe Acrobat Reader to access these documents.

1031 Exchange Forms

Land Trust

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