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Planning for succession of a cottage or vacation home: Getting personal

Monday, May 28, 2018 @ 9:30 AM | By Susannah Roth and Margaret O’Sullivan

For those who own a cottage or vacation home, who will inherit the property and how and when it will be inherited become serious concerns and are often worrisome. When planning for the succession of a cottage (or other vacation home), there are three main types of considerations to be reviewed: personal, tax and matrimonial issues. In this series of articles, we will summarize each of these considerations.

Personal issues are the first considerations to be explored when planning for a cottage or vacation home. Typically,...