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Official - Saving The Family Cottage

About The It rsquo;s also updated to reflect current tax and legal entity laws. Shared ownership of vacation property mdash;especially when the co-owners are family members mdash;can be fraught with problems

No matter whether you rsquo;re planning to pass on a cottage to your children, or you rsquo;ve inherited a cabin with your siblings, it rsquo;s never too early to take steps to preserve a beloved family property for generations to come. The idyllic dream of a cottage getaway can be shattered when co-owners rsquo; emotions, financial concerns, and opinions on how the property should be used come into play. It rsquo;s also updated to reflect current tax and legal entity laws. Fortunately, a solid plan that dictates how the property will be owned and managed can prevent squabbles over the family cottage. The sixth edition includes an expanded discussion of legal issues that might arise from renting out a family cottage or cabin on a short-term basis. It also explains the possible pitfalls of co-owing a family vacation property, and provides time-tested guidance on how to: keep the peace among heirs prevent a family member from forcing a sale of the property keep your vacation home out of the hands of in-laws and creditors, and smoothly transition ownership of the property from one generation to the next. Shared ownership of vacation property mdash;especially when the co-owners are family members mdash;can be fraught with problems. Saving the Family Cottage lays out a roadmap for creating and implementing this plan. ldquo;Practical advice hellip; rdquo;-The Grand Rapids Press ldquo;Nolo is always there in a jam as the nation rsquo;s premier publisher of do-it-yourself legal books. rdquo; - Newsweek

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Official - Saving The Family Cottage

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