DSTs (Delaware Statutory Trusts): A Practical 1031 Tax-Deferred Exchange Tool for Advisors Serving Landowners to Broaden their Advisory Roles
Overview
For most aging landowners and investment property owners, one big taxable event is coming: the day they sell. When it does, they turn to you — and they want options. Knowing how a Delaware Statutory Trust (DST) works gives you one of the most effective tax-deferral tools out there: an IRS-recognized 1031 replacement-property option under IRC §1031 and Rev. Rul. 2004-86 that can help clients enjoy retirement more tax-efficiently after a land or property sale. The CPAs who understand this earn deeper trust and stay the advisor their clients lean on.
Objectives
By the end of this session, participants will be able to:
1. Explain what a DST is and how it qualifies as 1031 replacement property.
2. Describe the basic tax-deferral mechanics of a 1031 exchange.
3. Identify which clients a DST fits — landowners and investment property owners, not personal-use real estate.
4. Recognize the key risks: illiquidity, lack of control, fees, and potential loss of principal.
5. Understand the CPA’s role in guiding clients and working with their legal and securities professionals.
Leader(s):
Leader Bios
Cameron Rafati, Iron Ridge Advisors
Cameron Rafati has more than 15 years of experience in real estate development and finance. He understands how land, debt, taxes, and cash flow work together—especially for ranchers, farmers, and multi-generation landowning families facing major decisions around selling property or stepping back from active management.
Cameron works in real estate investment and securities, with a strong focus on Delaware Statutory Trusts (DSTs) and tax-deferred exchange strategies. His role is to help clients reinvest sale proceeds in a way that makes sense, prioritizing income, simplicity, and long-term protection of what they’ve built.
He holds a Bachelor’s degree from USC, a Master’s degree in Real Estate Development from the University of Utah, FINRA Series 7 and 66 licenses, and is a former licensed real estate broker. Cameron also writes and teaches continuing education for CPAs and real estate brokers, helping professionals better serve landowning clients.
Outside of finance and real estate, Cameron is also a musician. Under the name Rafferty, he wrote a hit song in 2015 that was featured in Apple iPhone 6S commercials worldwide and performed at festivals from Norway to Mexico.
That background shaped how he works. Cameron believes that if people don’t understand the message, it doesn’t matter how smart it sounds. He explains complex financial concepts the same way he’d write a song—clear, direct, and easy to follow.
In a future shaped by AI, Cameron believes clarity and simplicity matter more than ever. He skips the jargon, speaks plainly, and focuses on making sure clients understand their decisions—because clear thinking leads to better outcomes.
Jim Parry, Iron Ridge Advisors
Jim Parry brings more than 40 years of experience helping agricultural landowners, ranching families, and multi-generational farm operators bring clarity and confidence to complex financial decisions. His work is focused on ensuring clients’ financial needs and objectives are met so they can concentrate on what matters most—family, land, and long-term legacy.
Jim takes a planning-first, relationship-driven approach, grounded in the realities facing ag families, including land sales, tax exposure, and succession planning. A key area of focus in his practice is the thoughtful use of Delaware Statutory Trusts (DSTs) as part of tax-deferred exchange and income-planning strategies for clients transitioning out of actively managed property.
In addition to advising clients and implementing investment strategies, Jim serves on the investment committee and actively participates in the due diligence process, particularly around DST offerings. He believes disciplined underwriting and sponsor evaluation are essential when clients are reinvesting proceeds from generational land.
At his core, Jim believes this business is about relationships—not transactions. An entrepreneur and philanthropist by nature, he is committed to advocating for his clients’ financial well-being and continually seeking ways to add long-term value through thoughtful guidance and stewardship.
Member Price $0.00