We wrote the book on Cottage Law. Literally.
Stuart Hollander and David S. Fry explain why problems arise when a vacation home is passed on to the next generation and offer practical suggestions on how to address this problem.
The book covers how to incorporate succession planning for a vacation home into an estate plan and gives practical advice on such things as how to develop a cottage schedule, whether to establish an “endowment,” and how to allocate control between and within generations of owners. Learn more...
One Family. Different Ideas. How To Keep The Peace.
Simply leaving the cottage to all members of the next generation “in equal shares,” means that everybody has to agree on everything. Virtually every family will have members with varying views on “partial ownership” of the family cottage. Parents who don’t take these differences into account risk putting family members in a … Learn More...
The Family Cottage Brought Your Family Together
Home may be where the heart is, but a family’s most cherished memories are often held within the walls of the family cottage. Carefree days spent watching the children and grandchildren play and grow. S’mores. That first fish (and first “big fish” story). Whether a rustic … Learn More...
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November 21, 2016
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One of the most significant expenses of owning and maintaining vacation property is property taxes. Michigan has a somewhat complex and often confusing system of accessing taxes. We have provided the most current information, which will explain how property taxes are computed on Michigan property, under the "Resources" tab on our website. The property tax laws are changing frequently, so keep up with the latest information by checking out the information we … [Read More...]