Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home

Hollander, Stuart J.; Fry, David S.; Hollander, Rose

ISBN 10: 1413323499 / ISBN 13: 9781413323498

Published by Nolo, 2017

About this Item

Seller Inventory # BSM.16NCX

Bibliographic Details

• Title: Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home
• Publisher: Nolo
• Publication Date: 2017
• Language: English
• ISBN 10: 1413323499
• ISBN 13: 9781413323498
• Binding: Soft cover
• Edition: 5th or later Edition
• Condition: very_good

About this title

Synopsis

Estate planning for family cottages and cabins

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.
  
  

The fifth edition is updated to reflect current tax laws, including state property tax laws which affect choice of legal entity. It also includes an expanded discussion of legal issues when renting a family cottage or cabin on Airbnb, VRBO, or similar rental services.

Book Description

This book explains a proven method for keeping your cottage in the family for generations and avoiding family fights. Almost anyone who inherits real estate with siblings will want guidance.