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Secure Your 1031 Exchange With Multi-Million Dollar FDIC Coverage


Cost Free
Presentation Length 1.5 hours

Recorded DateDecember 18, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Join us for an insightful webinar led by experts in the field of advanced financial strategies.

In this session, we’ll explore the tax-deferral strategy known as the 1031 Exchange (IRS Code Section 1031) for real estate investors and the protection offered by segregated accounts with Federal Deposit Insurance Corporation (FDIC) coverage.

In this comprehensive course, attendees will gain a deep understanding of 1031 exchanges and how segregated accounts can safeguard funds. The presenters will explore the intricacies of FDIC insurance with Empire State Bank and multi-million dollar coverage, review the benefits of entrusting exchange funds to their expert team, and engage in a Q&A session to address unique concerns.

Learn how the 1031 Exchange strategy allows real estate investors to defer capital gains taxes through property swaps while keeping your 1031 tax-deferred exchange accounts secure. By enabling the security of segregated accounts protected with multi-million dollar FDIC coverage, investors can optimize reinvestment opportunities. By the end of this course, attendees will be equipped with the knowledge and confidence to optimize their 1031 exchange strategy and protect assets through the security of segregated accounts protected with FDIC insurance. Don't miss this opportunity to secure your financial future and make informed investment decisions!

Learning Objectives:

  • Summarize the basics of 1031 exchanges

  • Describe various 1031 exchange principles such as deferring capital gains taxes

  • Evaluate segregated account assurance

  • Determine the benefits of multi-million dollar FDIC insurance and coverage

  • Recognize the importance of maximizing protection for your exchange funds

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Philip Guarnieri is the Chief Executive Officer of ES Bancshares, Inc., and Empire State Bank, where his visionary leadership has been instrumental in establishing the bank as a prominent player in the industry. With a strategic approach, he played a key role in the organization and chartering of Empire State Bank in 2004, focusing on delivering exceptional commercial banking products and services to the Tri-State area communities. Under Phil's guidance, the bank has experienced remarkable growth, surpassing $639 million in assets, and emerging as a trusted leader in serving the needs of small businesses.

With over 40 years of extensive banking experience, Phil's career began at Hamilton Federal Savings FA, where he quickly advanced through various positions, including customer service representative, teller, Assistant Branch Manager, Assistant Vice President/Mortgage Officer, Vice President, and Branch Administrator. His proven dedication and expertise led him to assume key roles, including Vice President/Loan Origination at Home Federal Savings Bank and Senior Vice President/Chief Lending Officer at The Yonkers SLA, FA. From 2002 to 2004, Phil served as President/COO of Atlantic States Mortgage Corp., where he successfully managed all aspects of mortgage banking.

Apart from his professional achievements, Phil actively engages in the community and holds various directorial positions. He serves as a director of the Empire State Bank Foundation and holds roles such as Executive Director and Treasurer of the Staten Island Economic Development Corporation, Director of the Staten Island Chamber of Commerce Foundation, Director of the Brooklyn Chamber of Commerce, Director and Treasurer of the Asian Real Estate Association of America Brooklyn Chapter. Additionally, he is a Director of Chance of Life, Director of the New Dorp BID, Director of the Victory Boulevard Merchants Association, and Vice Chair of the Diversity, Equity, and Inclusion Committee of Patterns for Progress.

Phil obtained his B.A. in Banking and Finance from Hunter College and further expanded his knowledge through a continuing education program focused on Real Estate and Commercial Bank Lending at New York University.

With his extensive experience, strategic vision, and commitment to community development, Philip Guarnieri continues to drive the success of Empire State Bank and exemplifies the values and dedication required to succeed in the banking industry.

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Mr. Liebman has been a practicing attorney CPA for over 50 years and now specializes in real estate and business transactions. He has given numerous seminars to attorneys, Certified Public Accountants, and realtors on structuring Real estate transactions to meet the requirements of Internal Revenue Code Section 1031. In addition, Mr. Liebman has acted in various capacities (whether attorney or qualified intermediary) in multi-million dollar real estate exchanges throughout the country. Mr. Liebman has been chairman of the Richmond County Bar Association Committee on Taxation since 1988 and has given some fifty CLE seminars on various topics within this time. Mr. Liebman is also on the faculty of the Academy for Professional Education and has lectured extensively throughout the country. In addition, other local venues where Mr. Liebman has lectured are the Bay Ridge Lawyers Association, New York State Society of CPAs, Department of the U.S. Treasury, Civil Court City of New York (court attorneys and small claims arbitrators) Staten Island Board of Realtors and the New Jersey enrolled agents.

About Our Presenter


In 2004, Empire State Bank was founded by a group of banking professionals and entrepreneurs who shared a common vision of establishing a new kind of bank that would address the evolving needs of the local communities. Leveraging their extensive financial expertise and deep understanding of the local communities, they set out to establish a financial institution that would combine these two critical aspects and provide a superior banking experience for their clients. Their vision was to establish a financial institution that offers customers high-quality personalized banking services, innovative financial products, and competitive rates. Since its inception, Empire State Bank has been committed to providing a full range of deposit and loan products designed to cater to the unique needs of both individuals and businesses. The Bank has achieved steady growth since its establishment and remains dedicated to enhancing its product offerings and online banking capabilities. Additionally, it aims to launch an extensive community involvement initiative that focuses on engaging with consumers and businesses throughout the regions it serves. As a community-oriented bank, Empire State Bank is committed to fostering long-lasting relationships built on trust, integrity, and exceptional service. It places a strong emphasis on giving back and supporting the communities it serves through sponsorships, charitable donations, and local events. The bank looks forward to continuing its positive momentum and expanding its services to meet the evolving financial needs of its customers and the community.