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SUMMARY:Succession Planning for Cottages & Recreational Properties
DESCRIPTION:Offered By\nD.E. Systems \nWho Should Attend\nAll lawyers whose practice includes estate planning and administration will benefit from attending this program. \n\n\nAbout the Program\nA treasured way to bring loved ones together and forget about everyday hassles\, cottages and recreational properties often hold significant sentimental value for families. Proper succession planning for these assets requires knowledge of property\, tax and estate law\, but also practical client counselling skills. This program\, with experienced estates lawyer Peter Lillico\, will provide a real-world guide to the challenges and solutions available to successfully keep a cottage or recreational property in the family and prevent unnecessary disputes. The presentation will attempt to answer the question\, what does a lawyer need to know about cottage/recreational property succession planning in order to appropriately advise clients and avoid future negligence claims? Topics will include succession planning issues; capital gains tax planning considerations\, including maximizing the principal residence exemption; succession timing alternatives; post-succession protections; and\, cottage sharing agreements. Along the way\, Peter will address the importance of being realistic\, the hard questions that needs to be asked about family members’ expectations and finances\, and what-if scenarios that\, without proper planning\, can lead to litigation. Don’t miss this unique opportunity to learn how you can help your clients navigate the cottage succession planning process and create an estate plan that successfully transitions a cherished retreat to the next generation\, despite the financial hurdles and inevitable family conflicts. \n\n\nMeet Your Presenter\nPeter Lillico is a partner in Lillico Bazuk Galloway Halka in Peterborough\, Ontario. Peter’s practice is concentrated in the areas of Estate Planning\, Business and Corporate Law\, and Real Estate\, with a unique expertise in cottage succession planning. In addition to his practice\, Peter teaches law courses at Sir Sandford Fleming College. Peter writes on legal topics for several publications\, including a weekly column in Peterborough This Week and as a frequent contributor to Cottage Life Magazine. He has also written articles on estate planning for Good Times Magazine and appeared on Cottage Life Television on estate planning issues for cottage owners. Peter is a frequent presenter for legal and other audiences\, including the Federation of Ontario Cottagers Association and the Ontario Real Estate Association. Peter is a Past President of the Peterborough Law Association. He is also a founding member of the Peterborough Estate Planning Council. \n\n\nSchedule (Eastern)\n\n12:00 pm – 1:30 pm\nWelcome and Introduction\nOverview of Cottage Succession Planning Issues\nCapital Gains Tax Planning Considerations\nSuccession Timing Alternatives\nPost-succession Protections\nCottage Sharing Agreements\nProtecting Yourself Professionally\nProgram Wrap-up and Evaluation\n\n\n\nRegister
URL:https://lsnl.ca/event/succession-planning-for-cottages-recreational-properties/
LOCATION:Online
CATEGORIES:Continuing Professional Development
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