Multi-Generational Planning for Second Homes and Heirloom Properties
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Guest Expert: Tim Borchers, Esq., AEP®, Borchers Trust LawIn this webinar, estate planning attorney Tim Borchers delves into the complexities and solutions surrounding second homes and Heirloom Property ownership. Tim started by examining what s...
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A few comments from listeners when they were asked what the learned from the webinar:
1)Using a LLC as a legal structure or strategy for ownership transfer 2) Using an inherited Roth IRA to fund the property, with a clear ending point. 3) Heirloom Covenant (new term) which takes effect at death of first generation (August Terms).
- Jacqueline B.
Be more proactive in discussions with family members. See if parents have vision for how property is to be used and how kids feel about the property.
- Jeff B.
I hadn't heard of Heirloom properties before. Great overview. Webinar brought all the challenges to my awareness and how critical advanced planning is over heirloom properties.
- Marian J.
I found it helpful to hear the stories of how circumstances have played out in certain situations with heirs.
- Kathryn Y.
The need for parents to discuss their estate planning goals with their children was a very important idea reviewed in the session. Learning about the assets protection trust was quite important. I was unfamiliar with this type of trust.
- Alfred M.
1)Using a LLC as a legal structure or strategy for ownership transfer 2) Using an inherited Roth IRA to fund the property, with a clear ending point. 3) Heirloom Covenant (new term) which takes effect at death of first generation (August Terms).
- Jacqueline B.
Be more proactive in discussions with family members. See if parents have vision for how property is to be used and how kids feel about the property.
- Jeff B.
I hadn't heard of Heirloom properties before. Great overview. Webinar brought all the challenges to my awareness and how critical advanced planning is over heirloom properties.
- Marian J.
I found it helpful to hear the stories of how circumstances have played out in certain situations with heirs.
- Kathryn Y.
The need for parents to discuss their estate planning goals with their children was a very important idea reviewed in the session. Learning about the assets protection trust was quite important. I was unfamiliar with this type of trust.
- Alfred M.
1)Using a LLC as a legal structure or strategy for ownership transfer 2) Using an inherited Roth IRA to fund the property, with a clear ending point. 3) Heirloom Covenant (new term) which takes effect at death of first generation (August Terms).
- Jacqueline B.
Be more proactive in discussions with family members. See if parents have vision for how property is to be used and how kids feel about the property.
- Jeff B.
I hadn't heard of Heirloom properties before. Great overview. Webinar brought all the challenges to my awareness and how critical advanced planning is over heirloom properties.
- Marian J.
I found it helpful to hear the stories of how circumstances have played out in certain situations with heirs.
- Kathryn Y.
The need for parents to discuss their estate planning goals with their children was a very important idea reviewed in the session. Learning about the assets protection trust was quite important. I was unfamiliar with this type of trust.
- Alfred M.