LIVE CHAT TODAY: What are 1031 exchange accounts?

What are 1031 exchange accounts? How do they work? What is the process?

And what do investors need to know when they put proceeds from the sale of investment property into a 1031 account to defer capital-gains taxes?

Join us today from 12:30 to 1:15 p.m. at TimesDispatch.com for an online chat about 1031 exchange programs.

Three local experts will answer your questions during the chat.

If you can't join us, submit questions beforehand to .

Richard B. Chess is the managing partner of Chess Law Firm, PLC, where his practice focuses on capital formation, real estate and governance. He is a national speaker regarding merger and acquisitions, due diligence, negotiations, 1031 like-kind exchanges, REITs structures, and local and state government. Chess is the President, CEO and majority owner of American Realty Capital Markets, LLC, a FINRA broker dealer which provides research, training, sales support and managing broker dealer services within the private placement Regulation D investment world.

Craig Rascoe is the chair of the Tax Section of Williams Mullen and serves on the firm's board of directors. His practice concentrates on general tax planning for businesses and individuals. He has experience with the formation of business entities, acquisitions and dispositions of businesses, corporate spin-offs, like-kind exchanges, international tax issues, state tax issues and other business-related income tax issues. He also handles executive compensation matters including stock option plans, deferred compensation agreements and change of control severance agreements. His clients include both publicly traded and privately held businesses.

Dr. Philip H. Umansky, is Associate Professor of Business in the Sydney Lewis School of Business at Virginia Union University. Dr. Umansky received his Ph.D. in business from Virginia Commonwealth University in Richmond Virginia in 1993. His major is in the field of accounting, with minors in finance and economics. Dr. Umansky also has a Master of Accountancy degree and a Bachelor of Science degree in Psychology from Virginia Tech. Dr. Umansky is licensed as a Certified Public Accountant (CPA) and has taught CPA review courses with Kaplan CPA Review. In addition, Dr. Umansky is a member of the Virginia Society of Certified Public Accountants (VSCPA), an organization through which he obtains many of the continuing professional education credits for licensure.