Do you want your vacation home to stay in the family? How can you keep this retreat in the family for generations to come? Your estate plan should include these goals and you have many options to accomplish them. Talking with your estate planning attorney about these considerations will open up the options for you.
Passing ownership of your vacation home to your children or grandchildren can take many forms. Deciding among the options requires taking into account a variety of considerations—ownership, management, gift taxes, estate taxes, and eventually capital gains tax.
For more on this important planning consideration click here for an article from the Spring issue of 2ndhome Journal.