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Saving the Family Cottage : Creative Ways to Preserve Your Cottage, Cabin, Camp, or Vacation Home for Future Generations by Rose Hollander, Ann O'Connell and Stuart J. Hollander (2021, Trade Paperback)

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About this product

Product Identifiers

PublisherNolo

ISBN-101413328261

ISBN-139781413328264

eBay Product ID (ePID)3050100216

Product Key Features

Edition6

Book TitleSaving the Family Cottage : Creative Ways to Preserve Your Cottage, Cabin, Camp, or Vacation Home for Future Generations

Number of Pages240 Pages

LanguageEnglish

TopicReal Estate / General, General, Personal Finance / Taxation, Property

Publication Year2021

GenreLaw, Business & Economics

AuthorRose Hollander, Ann O'Connell, Stuart J. Hollander

FormatTrade Paperback

Dimensions

Item Height0.5 in

Item Weight16 Oz

Item Length9 in

Item Width6 in

Additional Product Features

Intended AudienceTrade

LCCN2020-036896

Dewey Edition23

Reviews"Practical advice." The Grand Rapids Press "Nolo is always there in a jam as the nation's premier publisher of do-it-yourself legal books." Newsweek

Dewey Decimal346.7305/2

Table Of ContentPart I: Cottages at Risk1. Trouble in Paradise2. Avoid the Worst: A Partition Parable3. Plan for the Best: Cottage Succession Goals4. How a Plan Helps Save the Family Cottage5. No Plan? Then 600-Year-Old Law Controls the Cottage6. Other Animals in the Property Law Zoo7. Short-Term SolutionsPart III: Cottage Plans in Action8. Choose the Right Legal Entity for Your Cottage9. Welcome to the Club10. When and How to Organize the Cottage LLC11. The Cottage Safety Valve12. Cottage Democracy13. Scheduling and Use14. Renting the CottagePart IV: Creating a Cottage Legacy15. Minimizing the Federal Tax Bite16. The Ultimate Gift: A Cottage EndowmentG. GlossaryB. Bibliography A. Appendix: Table of Contents for CottageLimited Liability Company Operating AgreementIndex

SynopsisThis book helps families preserve beloved vacation homes for the enjoyment of generations to come. It lets both owners and heirs know the steps they need to take to avoid family disputes over shared property, maximize the potential for enjoyment of the property, and ensure that the property remains a true asset--not a burden--for everyone involved., Estate planning for family cottages and cabins No 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 property--especially when the co-owners are family members--can be fraught with problems. The idyllic dream of a cottage getaway can be shattered when co-owners' 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 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. 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's also updated to reflect current tax and legal entity laws.

LC Classification NumberKF750.Z9H645 2021