From Nascar Condominiums to Private Mausoleums: Keeping the Vacation Home in the Family
by Wendy S. Goffe
Stoel Rives LLP
February 1, 2012
Abstract: As the proportion of wealth invested in family recreational property increases, issues relating to keeping the property in the family take on a new significance for estate planners. Deep feelings come to the surface when family members are forced to deal with questions about how to share the responsibilities and the benefits of ownership. This presentation examines the reasons that the family cabin (of any value) is so important in our society, the types of conflicts that arise when families try to hold onto property, methods for transferring ownership to charity and the next generation, and finally methods of management and organization to maintain family harmony once the property has been passed down.