Planning Ahead for Transfer of the Family Vacation Home: Easing the Transition to the Next Generation

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You currently own an out-of-state vacation home that has been in the family for years. It's a treasured tradition that has brought together generations of family. Perhaps you own it jointly with siblings or cousins, all owning interests inherited from parents. Fractional ownership has worked well enough so far, but should you be planning ahead?

Among the questions presented are...

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Published In: Business Organization Updates, Residential Real Estate Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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