Family Asset Planning

Shared Ownership of Family Cottages, Farms and  Legacy Assets.

At The Penning Group we know your goal is to protect three things: the people you love, a place you love and the life experiences and cottage memories you love. We have made it easy to learn and protect those assets.

Your Family Cottage Property

By having a solid cottage succession plan in place your heirs avoid common real estate law surprises. We work with you to develop a flexible cottage succession plan which will move your family cottage away from the hazards of 600-year-old real estate laws to within the protection of entity laws.

We examine your family cottage property as a whole and advise you on short- and long-term strategies to protect the cottage and in some cases avoid increases in property tax.

Expert Cottage Law Planning

Let us develop a cottage succession plan with you which will:

• Protect your family cottage from passing outside the family.

• Solve future conflicts between family members about how the family cottage is operated, maintained and improved.

• Avoid, through the right to partition governed by real estate laws, the forced sale of your family cottage.

• Develop a plan to address payment of ongoing expenses.

Your Cottage Succession Plan, as prepared by The Penning Group, and implemented by your attorney or one we can recommend will keep the family cottage in your family for generations to come.

 Preserving The “Experience” Of The Family Cottage

A well designed cottage succession plan will preserve the “experience” of the family cottage. All the memories that experience will provide  is worth more than money. Those experiences will provide what you hope for-a common and loving bond among your children, grandchildren and for generations beyond.

Send me a message or give me a call to discuss your family’s options.