News: Financial Digest

Professional Profile: Stephen Reilly, 2015

Name: Stephen Reilly Title: Chair - Connecticut Bankers Assn. Company: Northwest Community Bank Location: 86 Main St., Winsted, CT Birthplace and year: Stamford, CT - 1962 Family: Wife - Meg; Children - Sean, Katie, Brendan College: UConn - BA in Marketing; completed National School of Banking First job outside of banking: Retail, sporting goods sales First job in banking or allied field: Teller at Union Trust Bank What do you do now and what are you planning for the future? Advance industry issues i.e. - lessen the regulatory burden in CT. There are many regulations affecting the banks, which they had nothing to do with. Banks also had nothing to do with the financial crisis. There is a place for regulation but we are at the other end of the spectrum. This also takes dollars away from the community. Dealing with debit card fraud is another issue. We are responsible for making our customers whole if they are victimized. Retailers have no financial incentive here in terms of protecting consumer information. Hobbies: Time with family, exercise and work out, golf, sports Favorite book: "The River of Debt" (on Teddy Roosevelt) Favorite movie: "It's a Wonderful Life" Person you most emulate (outside of family): John Ursone Key to success (one idea): Hard work with effective communication If you were forced to choose another vocation what would it be? Major league baseball manager
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Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
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Columns and Thought Leadership
What’s UP with that? - by Kyle Kadish

What’s UP with that? - by Kyle Kadish

Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay

Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay

In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.