A country place is a symbol of relaxation, continuity in life, and family harmony. But when the topic of ownership succession is raised, that lovely spot can be transformed into a source of stress, uncertainty and family strife.
Cottage succession, along with other estate planning issues, is among my professional specialties. After decades of helping families confront and solve the cottage-succession problem, I decided to put pen to paper and document this knowledge. The result is Keeping the Cottage in the Family, a detailed review of everything a cottage owner should consider when contemplating what happens when it’s time to pass on the property to the next generation.
A succession plan can only be produced with the help of seasoned professionals who are familiar with the many pitfalls common to this challenge. I would like to thank Tom Burpee, Morris Jacobson and Matthew Elder for sharing their considerable expertise in the preparation of this article.