QI as an Expert Witness....

YOU MAY WANT TO FORWARD THIS TO YOUR ATTORNEY...

A 1031 QI (Qualified Intermediary) serves many functions: an officially sanctioned entity to hold the proceeds of a 1031 exchange; a 'trail guide' to help you through the process; an advocate if the IRS challenges your exchange; a guardian to protect your funds while being held for the exchange.

But there is another useful function a QI can serve that most people don't think about: Expert Witness. If an attorney needs someone to testify in tax court regarding the intricacies of a 1031 exchange, a QI as an expert witness-for-hire can help clarify things and help move the case along.

Not all QIs have the capacity to serve as an expert witness. If you need an expert witness in a 1031 exchange being challenged by the IRS, be sure you're getting a real expert with verifiable qualifications, expert service, a record of honesty and a good reputation.

--The Experts