The Summit Foundation strives to inspire donors, build partnerships and mobilize resources to support community organizations in Summit County (and the surrounding communities) that foster health & human service, education, art & culture, sports & recreation and environmental stewardship.




 
 


Archive for July, 2012

Succession Planning workshop Friday July 13th

The Peaks Society of The Summit Foundation is pleased to host

Saving the Family Cottage: Succession Planning for your Vacation Home on Friday July 13, 2012

A vacation or second home can be a very special place for families through the generations.  But relationships among children and grandchildren around this valuable asset may not remain peaceful forever.

The Summit Foundation has invited Cottage Law attorney and expert David S. Fry, co-author of “Saving the Family Cottage,” to present an information packed seminar exploring ways to secure the future of your family home for generations to come.

This event is the fourth in a series of educational workshops hosted by The Peaks Society of The Summit Foundation. With its focus on legacy planning, The Peaks Society is uniquely positioned to provide both valuable and practical educational experiences for our community. This workshop should be of interest to professional advisors and their clients, donors, as well as anyone who has been faced with the interconnected challenges of property, estate and philanthropic planning.

Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home (Stuart J. Hollander, Rose Hollander & David S. Fry, 3rd Edition, Nolo 2009) is a comprehensive treatment of the perils of failing to plan carefully for passing a vacation home to the next generation and beyond. The typical method of deeding a home to children as tenants-in-common is simple; but does not account for differences in the needs and circumstances of the eventual owners. Most importantly, a partition — the ancient, but still common method of resolving disputes among co-owners — often results in needless pain and expense. On the other hand, entity ownership in a Limited Liability Company (LLC) provides a flexible and democratic solution to this common problem.

 The Summit Foundation’s Trustee Steve Smith, CFP at RightPath Investments & Financial Planning, has written a review of the book in his blog.  

 David Fry was recently quoted in an article on this subject published in the Wall Street Journal and subsequently reprinted in The Denver Post.

The event will be held from 9 to 11 a.m. at Beaver Run Resort & Conference Center on Friday July 13.

Coffee and light breakfast will be provided.  Please RSVP by calling The Summit Foundation at 970.453.5970 or emailing kasey@summitfoundation.org.



 

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