Financial Floatplan: Succession Planning for Boat Owners

What happens to the boat when you're done with it?Matt and Tim sit down aboard a 1998 58' West Bay to tackle one of boating's most important — and most avoided — conversations: succession planning. From building your boat into your estate plan, to making sure the next generation is insured and capable of running it, to avoiding family conflict when it's time to sell, this episode covers the practical steps every boat owner should take now, while the boating is still good.Whether you're thinking about passing the boat down or eventually liquidating it, having the right people, documents, and conversations in place makes all the difference.