At this juncture, my thoughts are purely experimental.
As is often the case, significant considerations occur
to me following the the conversation. With respect to
the possible investment of my retirement funds in real estate,
I note that the payment of income taxes due on distributed shares
of beneficial interest would, during my lifetime, be solely my
responsibility, and would be of concern to you only after my death,
and then only if you chose to take responsibility for settling my estate.
At that time a wide spectrum of options would be open to you.
With respect to estate taxes, if any, you could solicit the advice
of tax specialists, and will always have the option, if in doubt,
to overpay.

A real estate investment itself, if entered into foolishly, might
prove an expensive mistake; if done astutely, it might be an optimal
hedge against the inevitable inflation of the currency. I will
continue to reflect on the hypothetical opportunity. If you
care to know about the evolution or involution of my ideas, just ask.