Tim Talks Second Homes
Last month, Twelve Points Wealth Management’s Chris Cahill and I spoke about Heirloom Properties with Harry Margolis on the Ask Harry Podcast. Chris and I co-created Second Home Savvy to help families understand how to protect their second home for the next generation.
An heirloom property – a vacation or second home – can be a wonderful thing for a family. It can be a getaway for good times and wonderful memories. It can also become the bane of a family’s existence, as descendants fight over who uses it, who takes care of it, and what to do about it in the future. To make it the former and not the latter, put a succession plan in place way ahead of when you need it.
In the interview we cover:
- What an heirloom property is
- How to protect it
- Issues that come about
- Possible solutions
Do you have an heirloom property? Are you considering purchasing one? What further questions do you have about heirloom properties? Learn more on our Heirloom Properties page or request a call to discuss your heirloom property.
