The Challenges of Planning the Client’s Legacy of Place and Togetherness

Written by Timothy Borchers

The vacation home . . . It evokes an image of family and friends enjoying time together at a cottage or cabin, lodge or ranch, somewhere away from it all—the lakeside or seaside, in the country, or on the slopes—in a scene that is repeated year after year. 

It could be a Hyannis Port compound like the Kennedys’ or equivalent to Shrek’s shack in the swamp, but more likely, it is something in between. Regardless of whether it is modest or upscale, when everyone from Grandpa down to the youngest grandkid says in a giddy moment, “This place is awesome! I hope we can enjoy it forever!”, it is not just a home, it is an heirloom property.

From the SECURE 2.0 Act’s changes for special needs trusts to the Federal Trade Commission’s issuance of a proposed rule banning noncompetition clauses, we have recently seen significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning and business law practice.

The Virtual Conference for Experienced Estate Planners Returns

Our next Advanced Estate Planning Summit is around the corner! This Summit will address sophisticated estate planning strategies and topics of interest—from trust protectors and charitable tax planning, to grantor retained annuity trust (GRATs) and beneficiary deemed owner trusts (BDOTs). This is your chance to hear from nationally-recognized speakers, earn up to 5 CLE credits, and gain practical insights to use immediately in your practice.