Own A Cabin in Minnesota and Need Legal Help?
Cabin Succession Planning involves developing a plan to pass the family cottage to children and future generations for their shared use and enjoyment. A succession plan is designed to protect the owner, family members and the cabin property from threats of a forced cabin partition lawsuit and to establish equitable rules for the future operation, shared use, financing and management of the family cabin.
The key issues concerns when planning to leave a cabin to your family are:
- Ownership of any part of the cabin passing into the hands of a non-family member through death, divorce or creditor action.
- Failure of a family member to meet any or all financial commitments to the cabin.
- Handling internal conflicts between family members about how to operate, maintain and improve the cabin.
- A family member who does not want to own cabin.
- Disharmony between descendants when the older generation is no longer around to mediate a peaceful resolution.
Generally, most parents use an estate plan to leave their cabin equally to their children. While this is one way to pass on the cabin property and transfer ownership to others, it presents financial, legal and emotional risks to both heirs and the cabin. It is best to avoid unnecessary risks or complications in passing on your family cabin.
Contact Our Expert Minnesota Cabin Succession Planning Attorneys Today!
If you are interested in a cabin planning consultation, contact us today by filling out a contact form or calling us at (952) 260-2043 with any questions you might have. Feel free to check out our fees page for pricing information.