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Whether you’re a parent planning to pass on a cottage to your children, someone who has inherited a cabin with your siblings or other relatives, or someone who is thinking about buying a vacation home, you want to know how to keep the property in the family—and avoid squabbles over it.
This book tells you how. You’ll find out how to:
. Prevent a family member from forcing a sale of the cottage
. Keep your cottage out of the hands of in-laws and creditors
. Develop a legal structure to take care of the business of ownership, freeing you and your family to enjoy your precious time at the cottage
. Make a smooth transition from one generation’s ownership to the next.
Saving the Family Cottage explains the problems that almost always pop up when family members with different interests and financial situations inherit a vacation home together. And it offers solutions for families who want to preserve this valuable asset for generations to come.
- Sales Rank: #28792 in Books
- Published on: 2013-03-29
- Original language: English
- Number of items: 1
- Dimensions: 9.69" h x .48" w x 5.14" l, .70 pounds
- Binding: Paperback
- 240 pages
About the Author
David S. Fry is a Michigan attorney whose practice also focuses on real estate and estate planning, particularly succession planning for second homes. He is a fourth-generation cottage owner and regularly presents seminars around Michigan on how to keep a cottage in the family.
Rose Hollander has spent more than 19 years working and living in the heart of Michigan cottage country. She was the legal assistant/paralegal in a law practice with her husband, Stuart Hollander, whose practice centered on estate planning to help families concerned about passing on vacation homes. Rose met with families, helped draft documents, and helped families administer the estate after a death.Rose graduated from Ithaca College. Before working as a legal assistant, she worked as a personnel representative for the Stanford Court Hotel and then as the assistant to the General Manager of the Four Seasons Clift Hotel in San Francisco. She then owned a catering business in Northern Michigan.Rose is a Great Books leader and chairman of the board of a large Montessori school, and is active on stage in community theater. She has published several essays about life "up north" and parenting.You can visit her website at http://www.cottagelaw.com.
The late Stuart Hollander was a lawyer with more than 20 years' experience helping families plan for succession of their vacation cottages.
Most helpful customer reviews
13 of 13 people found the following review helpful.
Informative, but not legal advice
By April E. King
I'm an attorney in estate and business planning in the Twin Cities. I read an older edition, but believe there has been little change. I frequently recommend this book to clients, because becoming familiar with the issues helps clients decide what they want and helps them see why it's worth paying for legal advice to accomplish what they're after, whether that turns out to be the long-term preservation of a recreational property within the family, or a transfer at a future time, or a transfer in the near future. The book is readable, well-organized, and accurate.
Those who criticize the book on the grounds that it is too expensive or not all they expected may have unreasonable expectations. A book can't substitute for custom legal advice. However, I'm completely certain that reading this book saves my clients several hundred dollars in legal fees, just for the time they gain in being more efficient communicating with me about their projects. You may not feel like you can write your own member control agreement for your cabin when you're done, but you'll save money on conversations with the attorney you hire, and you'll understand better what you're doing, and you'll understand why it's better to hire an attorney than DIY--an effective use of $20, in my book.
6 of 7 people found the following review helpful.
Saving the Family Cottage, 4th edition 3/2013
By Grape
This is the greatest book to explain meanings of wording ,etc. for cottage ownership and handing it down to next generation. Should and should not dos.
There was a wait to receive the new edition from last fall order but its well worth the wait. Also has info on how to get updates via the web plus blogs,podcasts and videos. Good fast reading for a non-reader who is involved in the subject matter.
2 of 2 people found the following review helpful.
A fine how-to guide for families hoping to save their vacation home for future generations
By James G.
In an easy-to-read, helpful format, this book offers practical, specific advice for owners of family vacation homes who would like to see their children and grandchildren preserve these places and traditions of family fun and togetherness. We own a lake cottage in Minnesota, which we would like to see kept in the family. This book laid out a plan on how we might do that, with good advice on handling the legal, financial and family-dynamics questions that such a wish involves. The author explores all the pitfalls and possibilities in clear, concise language. Highly recommended!
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