Sectors
Brian Lucareli, director of Foley Private Client Services (PCS) and co-chair of the Family Offices team, sits down with Stephanie Derks, senior counsel in Foley’s Estates and Trusts Practice, for a 10-minute interview on family vacation homes.
During the session, Stephanie discusses how vacation homes and secondary residences often carry significant emotional value for families, and how thoughtful planning can help preserve them for future generations. She addresses key considerations including ownership structure, property management, maintenance and funding obligations, family use arrangements, and dispute prevention. Stephanie also explains how trusts and LLCs can be used to establish governance frameworks, provide asset protection, facilitate buyout mechanisms, and support broader estate tax planning objectives.
