Business Insight presented by Navigant Law Group, LLC Keeping That Special Place Special Your family lake house has brought you all so much closer together. After you are gone, how do you keep it from tearing your family apart? Several months ago, 1 used this space to discuss handling lake houses and other vacation properties in your estate plan. As a lake girl myself, I understand the special place a lake house holds in a family's heart. At Navigant Law, we love helping families protect these cherished places because passing them to the next generation can become complicated without thoughtful planning. As parents age and need care, or when they pass away, important decisions arise during times of deep emotion. Those are not the best moments to make difficult choices. Careful planning provides a framework for resolving future conflicts before they begin. a Attorney Mildred Palmer and recreational equipment all deserve careful consideration. We help families develop a thoughtful plan for every part of the property. Our process starts with A reality check is also important. questionnaire, ideally completed Are Mom and Dad leaving only the while the owners are healthy and property, or are they also providing able to make thoughtful decisions. funds to help maintain it? Even We help families identify what the most beloved family retreat they truly want. Should the can become a financial burden if property remain in the family, future owners cannot afford the or would selling it better serve ongoing expenses. future generations? We explain the available options and the authority future owners will have regarding maintenance or sale. We'll use the right legal tools- often a Trust and sometimes an LLC-to create a clear plan for ownership, funding, special gifts Next, we encourage an honest (Dad's fishing gear!), and future discussion about what the children management so expectations are will want. Different opinions understood before the transition among siblings are common-and occurs. that's okay. We can build provisions Special assets require special that address those differences and create a decision-making process that encourages harmony rather than conflict. planning. We love helping families chart the course so their lake house legacy continues creating memories for generations to come. We value your legacy. Call for than just the home. Boats, docks, a complimentary consultation to golf memberships, furnishings, get started. 847-253-8800. www. Lake houses often come with more NAVIGANT LAW GROUP LLC navigantlaw.com 847-253-8800 | www.navigantlaw.com 3030 W. Salt Creek Lane, Suite 330, Arlington Heights Business Insight presented by Navigant Law Group , LLC Keeping That Special Place Special Your family lake house has brought you all so much closer together . After you are gone , how do you keep it from tearing your family apart ? Several months ago , 1 used this space to discuss handling lake houses and other vacation properties in your estate plan . As a lake girl myself , I understand the special place a lake house holds in a family's heart . At Navigant Law , we love helping families protect these cherished places because passing them to the next generation can become complicated without thoughtful planning . As parents age and need care , or when they pass away , important decisions arise during times of deep emotion . Those are not the best moments to make difficult choices . Careful planning provides a framework for resolving future conflicts before they begin . a Attorney Mildred Palmer and recreational equipment all deserve careful consideration . We help families develop a thoughtful plan for every part of the property . Our process starts with A reality check is also important . questionnaire , ideally completed Are Mom and Dad leaving only the while the owners are healthy and property , or are they also providing able to make thoughtful decisions . funds to help maintain it ? Even We help families identify what the most beloved family retreat they truly want . Should the can become a financial burden if property remain in the family , future owners cannot afford the or would selling it better serve ongoing expenses . future generations ? We explain the available options and the authority future owners will have regarding maintenance or sale . We'll use the right legal tools- often a Trust and sometimes an LLC - to create a clear plan for ownership , funding , special gifts Next , we encourage an honest ( Dad's fishing gear ! ) , and future discussion about what the children management so expectations are will want . Different opinions understood before the transition among siblings are common - and occurs . that's okay . We can build provisions Special assets require special that address those differences and create a decision - making process that encourages harmony rather than conflict . planning . We love helping families chart the course so their lake house legacy continues creating memories for generations to come . We value your legacy . Call for than just the home . Boats , docks , a complimentary consultation to golf memberships , furnishings , get started . 847-253-8800 . www . Lake houses often come with more NAVIGANT LAW GROUP LLC navigantlaw.com 847-253-8800 | www.navigantlaw.com 3030 W. Salt Creek Lane , Suite 330 , Arlington Heights