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Saving the Family Cottage : A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home by Stuart Hollander, Rose Hollander and David S. Fry (2017, Trade Paperback)

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About this product

Product Identifiers

PublisherNolo

ISBN-101413323499

ISBN-139781413323498

eBay Product ID (ePID)235048098

Product Key Features

Edition5

Book TitleSaving the Family Cottage : A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home

Number of Pages232 Pages

LanguageEnglish

Publication Year2017

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

IllustratorYes

GenreHouse & Home, Business & Economics

AuthorStuart Hollander, Rose Hollander, David S. Fry

FormatTrade Paperback

Dimensions

Item Height0.5 in

Item Weight16 Oz

Item Length9 in

Item Width6 in

Additional Product Features

Intended AudienceTrade

LCCN2016-048187

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, 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 Edition23

Dewey Decimal346.7305/2

Table Of ContentPart I: Cottages at Risk 1. Trouble in Paradise 2. Avoid the Worst: A Partition Parable 3. Plan for the Best: Cottage Succession Goals 4. How a Plan Helps Save the Family Cottage 5. No Plan? Then 600-Year-Old Law Controls the Cottage 6. Other Animals in the Property Law Zoo 7. Short-Term Solutions Part III: Cottage Plans in Action 8. Choose the Right Legal Entity for Your Cottage 9. Welcome to the Club 10. When and How to Organize the Cottage LLC 11. The Cottage Safety Valve 12. Cottage Democracy 13. Scheduling and Use 14. Renting the Cottage Part IV: Creating a Cottage Legacy 15. Minimizing the Federal Tax Bite 16. The Ultimate Gift: A Cottage Endowment G. Glossary B. Bibliography A. Appendix: Table of Contents for Cottage Limited Liability Company Operating Agreement Index

SynopsisThis book explains a proven method for keeping your cottage in the family for generations and avoiding family fights. Almost anyone who inherits real estate with siblings will want guidance., Whether you re a parent planning to pass on a cottage to your children, someone who has inherited a cabin with your siblings or other relatives, or someone who is thinking about buying a vacation home, you want to know how to keep the property in the family and avoid squabbles over it. This book tells you how. You ll find out how to: Prevent a family member from forcing a sale of the cottage. Keep your cottage out of the hands of in-laws and creditors. Develop a legal structure to take care of the business of ownership, freeing you and your family to enjoy your precious time at the cottage. Make a smooth transition from one generation s ownership to the next. "Saving the Family Cottage" explains the problems that almost always pop up when family members with different interests and financial situations inherit a vacation home together. And it offers solutions for families who want to preserve this valuable asset for generations to come.", Estate planning for family cottages and cabins When family members inherit a vacation home together, problems are often unavoidable, given that the new co-owners may have different financial circumstances or emotional attachments to the family cottage or cabin. But you can head off damaging family squabbles by developing a legal structure (typically an LLC) to take care of the business of ownership. Whether you're planning to pass on a cottage to your children, or you've inherited a cabin with your siblings, Saving the Family Cottage provides practical, legal solutions for preserving a beloved family property for generations to come. You'll learn how to: keep the peace (and avoid fights) among siblings over jointly-owned property prevent a family member from forcing a sale of the cottage or cabin keep your vacation home out of the hands of in-laws and creditors, and make a smooth transition from one generation's ownership to the next. The fifth edition is updated to reflect current tax laws, including state property tax laws which affect choice of legal entity. It also includes an expanded discussion of legal issues when renting a family cottage or cabin on Airbnb, VRBO, or similar rental services.

LC Classification NumberKF750.Z9H645 2017