Episode 28

Historic Home Incentives, Valuation Discounts, and the Luxury Yacht Market

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October 27th, 2025

28 mins 32 secs

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luxury asset management yacht ownership family office investing independent appraisal irs valuation scrutiny family wealth transfer estate tax efficiency lack of marketability discount minority interest discount valuation discounts family llc planning construction budgeting home restoration costs national register of historic places virginia historic tax credit preservation incentives tax credits historic property renovation financial independence financial literacy trust strategies tax planning real estate investing gifting strategies estate planning

About this Episode

In this episode, we explore how financial decisions often bridge emotion, legacy, and precision.

First, we answer a listener’s question about restoring a historic Virginia home and whether the available tax incentives justify the cost when renovations rival the purchase price.
Next, we unpack how valuation discounts work for families transferring ownership of LLC interests — and why proper documentation and independent valuations are critical to avoiding IRS scrutiny.

Finally, in a special segment, we speak with Steve Myers, CEO of [YATCO](yatco.com), about how family offices are approaching yacht ownership more strategically, the economics behind charter programs, and why “doing it right or not at all” remains the best advice in the luxury market.

Have a question for a future episode? Submit it at scholaradvising.com/podcast

Disclaimer: The information provided in this podcast is for general informational and educational purposes only, and is not intended to constitute financial, investment, or other professional advice. The opinions expressed are those of the hosts and guests and do not necessarily reflect the views of any affiliated organizations. Investing in financial markets involves risk, including the potential loss of principal. Past performance is not indicative of future results. Before making any investment decisions, you should consult with a qualified financial advisor, who can assess your individual financial situation, objectives and risk tolerance. Thanks for listening!