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Saving the Family Cottage: A Guide to Succession Planning for Your Cottage, Cabin, Camp or Vacation Home |  | Authors: Stuart Hollander, David Fry, Rose Hollander
Publisher: NOLO
Category: Book
List Price: $29.99
Buy New: $18.34
as of 7/30/2010 06:34 CDT details
You Save: $11.65 (39%)
New (18) Used (10) from $18.34
Seller: natarajbooks
Rating:  46 reviews
Sales Rank: 17798
Media: Paperback
Edition: 3
Pages: 240
Number Of Items: 1
Shipping Weight (lbs): 0.8
Dimensions (in): 8.9 x 6 x 0.6
ISBN: 1413310346
Dewey Decimal Number: 346.73052
EAN: 9781413310344
ASIN: 1413310346
Publication Date: May 7, 2009
Availability: Usually ships in 1-2 business days
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Product Description
Keep your vacation home in the family with the definitive guide to succession planning.
Now published by Nolo, Saving the Family Cottage is written in plain English by estate planning and succession attorney-experts Stuart Hollander and David S. Fry, to help you plan to pass on your vacation home and keep it in the family. Complete with real-world examples and stories of cottage "wars" gone awry, this book breaks down the essentials for passing your cottage to the next generation.
Find out how to:
figure out which estate planning entity is right for you and your family
develop a cottage schedule
deal with co-owners who fail to pay their assessments
decide whether to establish an endowment
allocate control between and within generations of owners
Although the term "cottage" is used throughout, the practical advice from the authors applies to any property that a family wants to retain. With information for owners, attorneys and financial planners, this guide to succession planning makes a complex problem understandable and offers concrete solutions to what can be a delicate family matter.
The 2nd edition acknowledged the addition of Attorney David S. Fry as an author of the book and successor to the author's cottage law practice. The updated 3rd edition is now published by Nolo and has been revised to include the latest state and federal rules that apply to vacation home owners, including fully up-to-date estate tax information.
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| Customer Reviews:
Showing reviews 1-5 of 46
 Well Written February 27, 2010
Matthew J. Kriegel
Well written book. Author discusses several real world situations, and describes outcomes of proper vacation home death planning, and consequences of non-planning or avoidance. You do not have to be an attorney, financial planner, or accounant to read this book. It is a benefit for anyone who owns a vacation property.
Book does not describe state specific strategies, but is more of a general planning and idea guide.
helpful book November 30, 2009
Krista Werner
Saving the Family Cottage has been extremely helpful to our family. Two sets of aging sisters and their husbands owned the cabin and we needed to pass it on to the next generation. This book explained exactly how to proceed.
Eminently Practical November 24, 2009
Theseus (US of A)
The audience for this book is (sort of obvious) a person or a family with a second home that has become a financial burden. Like most of these NOLO books, this is a practical piece of work with lots of information about estate planning, real estate law, and tax planning. It assumes that you aren't an idiot, but that you'll eventually need professional resources to secure the future of the "family cottage."
Cottage? Sounds so quaint. Who still really uses that word?
It seems to me as if this book fully accomplishes its goals. The prose here isn't brilliant, but it gets the job done.
Some of the practical advice that I found useful included: the importance of having a firm plan in place (not simply moving along from quarter-to-quarter, hoping that things stay in the black!) the ramifications of making the home an LLC; strategies for renting; planning to minimize federal tax liabilities.
I'm sure a lot of this information is available in various estate planning and wealth management books, but I don't have time to pour through them. Thus, I REALLY appreciated the compartmentalization here.
 Just what I needed October 14, 2009
N. Berry (USA)
Having two different camps owned by multiple family members in my immediate family, this book was very informative of some of the pros and cons of different ways of managing and transitioning ownership.
One of my goals for 2010 is to put into action a more formal plan for the ownership of these camps. Some of the issues (scheduling, renting, etc) have not been issues for us to date, but could be down the road.
What could sound like a very dry topic reads VERY easily, of course if it's something that you have or will have to deal with.
 Hated it September 30, 2009
K. E. Steelman (Dacula, GA United States)
I have been involved recently with Trustees, Estates and Lawyers, so I have read a lot of books on boring and dry subjects to place myself in a position of knowledge of how to deal with wills and trusts. As my parents and relatives age and die, this has become an uncomfortable legacy of paperwork and familial tug-of-wars that are at best sorrowful and at worst the initiator of migraines. I looked at this book as a possible way to avoid some of the end-fighting that inevitably comes with the break up and distribution of property and wealth. No such luck....
The book was rambling and convoluted and lacked concise and easily followed methods to setting up (in this case) the family cottage. I was in hopes that what I learned from this book, I could apply to other family shared heirlooms or property. This book was full of scenarios of "what if", but lacked the clear cut advice that I would have liked to have gotten from a legal individual. In short, it was more confusing than my lawyer and just as long winded. Only good thing is that I wasn't paying for this book by the hour.
Bottom line is that I am still looking for my reference book on the subject of setting up the family cabin on the lake before mom and dad die.... My advice is that you should keep looking too.
Showing reviews 1-5 of 46
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