Title
Saving the Family Cottage: Creative Ways to Preserve Your Cottage, Cabin, Camp, or Vacation Home for Future Generations,New
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Estate planning for family cottages and cabinsNo matter whether you?re planning to pass on a cottage to your children, or you?ve inherited a cabin with your siblings, it?s never too early to take steps to preserve a beloved family property for generations to come. Shared ownership of vacation propertyespecially when the coowners are family memberscan be fraught with problems. The idyllic dream of a cottage getaway can be shattered when coowners? emotions, financial concerns, and opinions on how the property should be used come into play.Fortunately, a solid plan that dictates how the property will be owned and managed can prevent squabbles over the family cottage. Saving the Family Cottage lays out a roadmap for creating and implementing this plan. It also explains the possible pitfalls of coowing a family vacation property, and provides timetested 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 inlaws and creditors, and smoothly transition ownership of the property from one generation to the next.The sixth edition includes an expanded discussion of legal issues that might arise from renting out a family cottage or cabin on a shortterm basis. It?s also updated to reflect current tax and legal entity laws.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
- Q: What is the main focus of 'Saving the Family Cottage'? A: 'Saving the Family Cottage' focuses on estate planning for family-owned vacation properties, providing guidance on how to preserve these cherished assets for future generations.
- Q: Who is the author of this book? A: The author of 'Saving the Family Cottage' is Stuart J. Hollander, an attorney with expertise in estate planning.
- Q: What are some key topics covered in the book? A: Key topics include shared ownership challenges, legal issues related to property rental, and strategies for maintaining family harmony regarding the cottage.
- Q: How can this book help with family property disputes? A: 'Saving the Family Cottage' offers practical advice on creating a management plan to prevent disputes among co-owners and outlines steps to keep the property in the family.
- Q: Is this book suitable for anyone new to estate planning? A: Yes, the book is designed to be accessible for individuals new to estate planning, providing clear and actionable insights.
- Q: What edition is currently available? A: The current edition available is the sixth edition, published on February 23, 2021.
- Q: How many pages does the book contain? A: 'Saving the Family Cottage' contains 240 pages of detailed information and guidance.
- Q: What is the binding type of the book? A: The book is available in paperback binding.
- Q: What legal issues does the book discuss? A: The book discusses potential legal issues that may arise from short-term rentals of family cottages, along with updated tax and legal entity laws.
- Q: Can this book assist in transitioning property to the next generation? A: Yes, it provides strategies for smoothly transitioning ownership of the family property from one generation to the next.