Dennis Brislawn is an estate and gift tax planning professional, as well as an asset protection expert. Do you have a vision for an item or property that you want generations of your family to enjoy? How do you prevent your children, or even grandchildren, from fighting over possessions after you've passed away? Dennis offers some practical solutions on keeping your family at peace while still being able to enjoy those important legacy items you've left behind.
What Was Covered
- 01:45 - Feel free to reach out and contact us with any questions you might have.
- 04:35 - How do we plan for inheritance when it comes down to special or miscellaneous stuff like pets or stamps?
- 06:00 - We hope this episode will inspire you to have a conversation with your spouse about these special matters.
- 06:35 - Let's go over the various scenarios on how three children can inherit the family cabin without feeling abused or left out.
- 08:35 - If everybody owns it, nobody owns it.
- 09:25 - For this special item, let's say the family cabin, what's its value to you? Is it a legacy item? Is it an investment or is it a liability?
- 09:45 - Now, take it a step further, what does this item mean to your children?
- 11:25 - Can you do everything you need using one will or trust? Dennis says it depends.
- 14:20 - If you are worried about having 10-15 family members from different generations fight over the family cabin, you can put this asset in a trust to help manage it.
- 14:55 - How do you make this work on the long run? How will the roof get replaced when it needs a new one 15, 20, 30, or 40 years down the line?
- 17:45 - Don't under-fund your vision. It's a common mistake that people under-fund their legacy items.
- 19:25 - Do not bring your children into the decision making process while you're still deciding what this item means to you personally.
- 21:35 - Passing down Grandpa's gun collection is not as easy as you might think.
- 30:00 - Dennis and his two partners can help you plan for your miscellaneous items and get you setup the right way.
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