“This place has a lot of memories.”
Over the years, you’ve collected a lot of memories at your lake place. It’s easy to relax in your favorite chair, look out over the calm lake waters and recall the happy times. This is the place where your children learned how to swim, where you taught your grandchildren how to fish and where the family gathers for the big summer celebration.
Property succession or property succession planning is the art of passing ownership of the family place down to the next generation. It’s an “art” because an effective property succession plan involves the coordination of many people around a legal framework that represents the vision of the founding owners and includes a plan to transition ownership. While it may be a difficult subject, understanding and creating a property succession plan today, will better prepare you and your family to get the most out of your special place tomorrow. And with the ever-changing landscape of families and the complexityof economic times, it’s increasingly important to understand exactly what kind of vision and relationship you and your family want to have with your property in the future.
Our Lake Place is prepared to provide guidance, so the family can have quality time together. We do this through Our Lake Place materials that get you started on the pre-work involved with property succession and through coaching. These tools are intended to help you understand your vision and your family’s wishes before you engage the services of a professional such as an attorney, tax planner, or other professional to develop your plan.
Watch Lakeland Public Television’s coverage of a Cabin Succession Planning workshop.
Here are some ways to get started and/or learn more about property succession today!
· Purchase the Our Lake Place introductory workbook, Leaving Your Legacy: An Introductory Workbook to Property Succession. If you are interested in the Comprehensive Cabin Succession Guide and Planner ©, send an email to firstname.lastname@example.org and a coach will get back to you within 2-3 days of your request.
· Schedule a Property Succession Planning workshop or seminar for your lake association, organization, or group by contacting us at email@example.com
· Request to speak with an Our Lake Place coach by emailing firstname.lastname@example.org.