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Introducing A Better Way To Do Starker 1031 Exchanges

It Is Better For You – And Better For Your Clients

What Makes Attorney 1031 Different and Better?

Attorneys like “straight talk”. So, let’s have some straight talk about 1031 Services being offered in today’s marketplace.

1031 Services are now a mature business category. Section 1031 rules are defined in the Treasury Department Tax Code and are the same for everyone. The 1031 forms all Qualified Intermediaries use are virtually identical. Most Q.I.s have proper Money Safety protection protocols. And the plain truth is – most Q.I.s are competent. All of these service features are simply basic “core competency” requirements in the 1031 world of today – and these make typical 1031 Services generic.

Here is an important business principle: The more similar the service, the more important are the differences.

So, what is different and better about Attorney 1031? Why should you choose us instead of one of our competitors? Our unique benefits are what make us different and better –and worthy of being retained by you and your Clients.

  • We offer you a $500 Referral Fee for each referred Exchange. This recognizes and rewards your valuable contribution to the Exchange transaction and achieving tax-deferral for your Clients.
  • We have a Service Satisfaction Guarantee that is unique in the industry. If – for whatever reason – you or your Client are dissatisfied with the attentiveness, responsiveness and quality of our service, we will refund our fee! Your complete  transaction satisfaction is our service goal.
  • You receive a focused 1031 Exchange Manual that is mercifully written in plain English, not “Legalspeak”. It tells you what you really need to know about Exchanges – and how to explain them to your Clients.
  • We will teach you how to do more Exchanges – and this will stimulate more ancillary business for your law practice. Every sale that is not the Seller’s personal residence is a “potential” Exchange.
  • You will receive a valuable “hold harmless” letter template to be used when you have a Client who needs the Exchange technique but rejects it.

Shakespeare said, “What’s Past is Prologue.”

Or if you prefer, “The Proof of the Pudding is in the Eating”. 

Our “Offer” of a significant Referral Fee ($500) that recognizes and rewards your meaningful contribution to a 1031 Exchange – is not some “Johnny-Come-Lately” concept that is gimmicky or unproven.

In the decade between 1997 and 2007 – and before the economic debacle of 2008-09 and COVID crippled 1031 Exchanges for more than a decade – our Exchange Company of that era (Investor’s Exchange) paid out $762,500 in Referral Fees to attorneys, just like you, in Illinois alone.  That is more than ¾ Million Dollars – and was the by-product of 1,525 Exchanges.  Those are numbers you can’t ignore or dismiss.  Hundreds of Illinois attorneys indisputably embraced our Referral Fee concept and benefitted accordingly.

With the advent of Attorney 1031 – and the return of meaningful 1031 activity – this same opportunity is now available to you.  You have the opportunity to benefit from multiple “Triple Play Transactions”.  Those are transactions where you earn the Transaction Legal Fee, Title insurance Fees, and a 1031 Referral Fee.  Affiliating with Attorney 1031 makes that possible.

Title Insurance and 1031 Exchanges are like Apples vs. Oranges

In Illinois – and increasingly in other states – being a Title Insurance Agent, and earning substantial title fees, are an important part of your success in being a Real Estate Attorney.  Placing title orders with yourself is just plain economic common sense.  We understand and applaud that.

Your title insurance underwriter likely has a “captive” Qualified Intermediary Company as a companion to their title business.  But they offer you nothing for a 1031 referral – largely because they don’t think they have to. They expect you to refer 1031 business to them as a matter of convenience and lack of better choices.

But now you have a “better choice” for both yourself and your Client.  You can place a 1031 order with Attorney 1031 and receive a Referral Fee you have earned and deserve – and your Client receives our unique Service Satisfaction Guarantee. This is a win-win “twofer” that is available only with Attorney 1031.

Meet the Founder

John Galley

For decades, John Galley was a licensed Real Estate Attorney in Illinois and Wisconsin. He is a cum laude graduate of Dartmouth and received his law degree from IIT/Chicago-Kent College of Law.

A Starker Exchange legal writing assignment in law school marked the beginning of his interest in 1031 Exchanges. And this eventually led to the formation of his 1031 Exchange Qualified Intermediary Company.

Specific Exchange Credentials

  • Has acted as a Qualified Intermediary for decades doing thousands of 1031 Exchanges.
  • Schooled by the two lawyers who wrote the 1991 Exchange regulations for the IRS and Treasury Department.
  • Charter Member of the Midwest Chapter of the national Federation of Exchange Accommodators (FEA).
  • Faculty for State Bar CLE presentations.
  • Exchange Presentations on behalf of eight State Bar Associations.
  • Featured Exchange Presentations at several American Land Title Association (ALTA) annual conventions.
  • Consultant and Expert Witness for 1031 Exchange lawsuits.
  • Published Exchange Articles in Title News (the official publication of ALTA), the Illinois Real Estate Journal, the Maine Lawyers Review, the Maine Business Monthly, and a published interview in Lawyers Weekly USA.

Testimonials

“I first met John through a mutual attorney friend. As I learned of his exchange capabilities, I was more than impressed. Being one of the Charter Members of the Legal Division at the American Land Title Association (ALTA), I knew John could be a great resource for all the Association Members. The relationship has blossomed by way of several ALTA Convention presentations. I am proud to have been the catalyst for this relationship.”

Ray Stillwell, Esq. Alton, IL

“Following his presentations in both
Madison and Milwaukee, many practitioners came forward to tell me that John gave the best presentation they had ever heard on the topic. As one written evaluation stated:
“Mr. Galley capably translated a complex area of the law so it was timely, relevant, understandable and useful for those of us who do transactions. The written materials
will be a very valuable resource back at the office. He should be invited back every year!” I couldn’t agree more.

Steve Rindo,
CLE Seminar Program Planner,
Wisconsin State Bar

Magazine Cover Page

Author – John Galley

Money Safety

Your Exchanger will have a separate, sub-account within the Attorney 1031 Master Exchange account at the Trustee Bank. Individual Exchanger Funds are never co-mingled with any others.

To maximize Money Safety, we use a “dual signature” procedure for the transfer of any monies out of the Exchanger’s sub-account. One signature is on behalf of Attorney 1031 (thus eliminating any issue of “constructive receipt” for your Client). And the other signature is someone designated to sign on behalf of the Client. The identity and confirmed signature of this person is provided to the Trustee Bank and is unknown to Attorney 1031. We will provide you with the form and instructions on how to do this. No monies can be transferred anywhere without this procedure having been initiated and completed. So bottom-line; you and your Client must know and approve of ANY transfers of money.

We pioneered this Dual Signature approach decades ago – and now it is required by most states who license Qualified Intermediaries

Seize the Opportunity

Claim Your Important Bonus BENEFITS Now

While you wait for a 1031 Exchange to refer to us and to receive the $500 Referral Fee you will have earned and deserve, there is a package of unique benefits you can receive from us.  Some are intended for your use – and some are better shared with your Clients.

Documents Intended For You and Your Law Practice

1. Our 1031 Exchange Manual – written in plain English, not
“Legalspeak”. It has been widely-praised by practitioners.

2. Advice on “How To Do More Exchanges” and benefit from the earning power of Triple Play Transactions where you earn a Transaction Legal Fee, Title insurance Fees, and a 1031 ReferralFee.

3. A CYA Letter template to use when a Client rejects the 1031
technique – even when they shouldn’t.

Documents To Be Shared With Your Clients

4. Our proprietary “Exchange Diagram” that shows “how” an
Exchange takes place – step-by-step. (You can see what this looks like – and how effective it is – by clicking on this link.)

5. A Capital Gains Worksheet that shows how to determine the likely Capital Gains, and subsequent Tax that will be owed, if the Exchange technique is not employed. This can be rather horrifying when “the sorry story” is revealed.

6. A Client “Ten Minute Exchange Primer” to get them “up to speed” on 1031 information that will empower them to become better Real Estate Investors.

What Should You Do Next?

How do you respond to get your free Bonus Benefits package of useful and helpful documents right now? It’s easy-peasy. Just send an email to – jrgalley@msn.com with the subject headline “Send My Documents Package”. Then be sure to whitelist our email address so what we send in return will not end-up in your Junk folder instead of your Inbox. (This is important for your sake, so do it now while you are thinking about it.)

We look forward to hearing from you in a timely manner – and having a mutually beneficial, professional relationship with you. jrgalley@msn.com

Attorney 1031 is an Exchange Service run by attorneys –

for attorneys.

Attorney 1031

A significant Referral Fee recognizes and rewards your meaningful 1031 Exchange contribution.

We Take The Pain Out Of Capital Gain