Originally presented on August 27, 2019
Clients frequently have substantial recreational assets that they want to pass in their estates – family cabins, mountain houses, or other retreats, boats, and other assets. These assets may be held in full or in fractional interests, sometimes shared uncomfortably by different parts of a single family or with third parties, giving rise to issues of control, value, and transfer. Any or all of these assets may have substantial financial value and almost always have emotional value to clients. Planning for these assets is a blend of property and tax law, but also practical counseling of clients. This program will provide you with a real world guide to trust and estate planning for recreational assets.
• How to title and/or hold assets in LLCs or other business entities
• Methods and agreements foster stable and cooperative use property among many family members
• Special trust and estate planning issues for reactional assets
• Use of Qualified Personal Residence Trusts for cabins and other vacation homes
• Real estate issues – capital improvements, treatment of taxes and expenses, conservation easements
• Special issues related to boats and airplanes
Speakers: Missia H. Vaselaney, Taft, Stettinius & Hollister, LLP, Cleveland, OH and Michael Sneeringer, Porter Wright Morris & Arthur LLP, Naples, FL
NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics or elimination of bias credit.
|MCLE Form 8-27-19.pdf (87.2 KB)||Available after Purchase|
|Course materials.pdf (1.4 MB)||Available after Purchase|
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