Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home
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Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home
When family members inherit a vacation home together, problems are often unavoidable, given that the new co-owners may have different financial circumstances or emotional attachments to the family cottage or cabin.
But you can head off damaging family squabbles by developing a legal structure (typically an LLC) to take care of the business of ownership. Whether you’re planning to pass on a cottage to your children, or you’ve inherited a cabin with your siblings, Saving the Family Cottage provides practical, legal solutions for preserving a beloved family property for generations to come. You’ll learn how to:
- keep the peace (and avoid fights) among siblings over jointly-owned property
- prevent a family member from forcing a sale of the cottage or cabin
- keep your vacation home out of the hands of in-laws and creditors, and
- make a smooth transition from one generation’s ownership to the next.
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