Once Removed Episode 21: Passing Down the “Family Cottage” or Other Legacy Property
As we have discussed on this podcast, legacy planning is not just about transferring money. It’s also about transferring values and relationships. And often the transfer of specific property goes hand-in-hand with the...more
Do you own a vacation home? If yes, do you own it alone or with others? Are you thinking of buying a vacation home? Will you be inheriting a vacation home? Many of us fall in love with an existing vacation spot or the...more
With proper planning, owning vacation property with other family members can be a pleasant and even bonding experience. The key is to determine, as early as possible, what the parties expect and desire from the property...more
Transferring a family vacation home to the next generation without causing family strife takes serious planning. Even if the ultimate decision is to have the children own the property outright and figure out how to make it...more