How Does a Vacation Home Fit Into Estate Planning?

vacation home estate planning

You are meeting with your lawyer and discussing your estate planning.  The discussion expands from how your estate consists of current home, bank accounts and other probate assets.  You then begin to discuss your vacation home and what you intend to happen when you and your spouse pass away.  Most parents, and sometimes aunts and uncles with no children but very involved nieces and nephews, assume that the vacation home will pass to the next generation.  However, estate planning for a vacation home warrants a more in-depth discussion since there are issues that may not arise with the outright distribution of other assets. See the article in Elder Law Answers for more detailed information.

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