Family vacation homes are often filled with some a family’s most cherished memories. However, planning for their transfer can often be quite messy and can lead to disputes between parents and siblings. There are also many practical questions to consider when you pass down a family home. Who will take care of repairs? Who will pay for upkeep? Who can use the home and when? The list could go on and on. Effective planning will take all of these questions into consideration.
This article from the Boston Globe looks at the pros and cons of creating an LLC to own your family cabin or cottage. Follow the link to the article to learn how an LLC can help the family vacation home remain a place for family togetherness.