Tax implications for benificiary

[Cody Brinkman]

Hello BP,

I am have been made aware of a potentially life changing deal and I need some specific tax info. A gentleman was introduced to me through a family member that has a large portfolio of apartment buildings has decided to dissolve his trust because his family doesn't want to deal with the tax implications of either taking possession or selling the properties on his passing. I proposed that he turn his portfolio into notes that I pay on (terms still in negotiation) and pass the notes onto his children so that they could receive monthly payments on a mortgage instead of a lump sum. I don't have a lot of specifics as far as the numbers go and much due diligence is needed to determine if this is something I want to further pursue, but as a negotiation tactic what would the tax implications be for his children upon his passing for taking possession of his performing notes?

Thanks,

Cody Brinkman