Tim Borchers to Discuss “Saving the Family Cottage” and Second Home Succession Planning at the Medfield Public Library
Founder and Partner Tim Borchers draws on his book, Saving the Family Cottage, to help families decide the best way to pass down beach houses, cottages, or cabins without letting shared ownership turn into conflict in a free discussion at the Medfield Public Library on Thursday, September 10.
A beach house, cottage, or cabin can be the most sentimental of family assets and is often the hardest to share. When several owners hold a property together, differences over use, upkeep, cost, and whether to sell can fracture relationships and end a once-valued tradition.
However, a clear agreement on ownership and management protects both the property and the people, and it’s never too early to start planning.
At the event, Tim will discuss:
- which properties are worth a succession plan
- keeping the peace among heirs
- preventing a forced sale
- shielding the home from in-laws and creditors
- transitioning ownership to the next generation or to later branches of the family
- buy-outs for heirs
- how to hold title to the property through a trust, LLC or nonprofit association
The event will take place in the library’s Meeting Room from 6:30 to 7:30 p.m. The Medfield Public Library is located at 468 Main Street, Medfield, MA 02052.
Attendees can register for an email reminder on the library’s event page.
If you have questions on planning for a vacation or heirloom property, please reach out to Tim or any member of our firm.
Tim is a sought-after attorney, public speaker, and trainer on the topics of estate planning, family legacy, and trusts. Along with being an accomplished writer and editor, he has developed numerous trademarked programs and resources that make the estate planning and probate processes more accessible, organized, and easily maintained, including but not limited to Inheritance Trusts™, TrustSupport™, and the Heirloom Ownership Trust™.
