Keeping Your Home in the Family

 

People tend to light up when they talk of their vacation homes because of all the great memories. It’s often the case with a childhood home that has been kept in the family. The question is how do you keep the childhood home or vacation home in the family? Well there are several ways to consider:

 

  • OutrightSaleto Family Members

 

  • Sell the Home to an Intentionally Defective Irrevocable Trust

 

  • A Simple Bequest of the Home

 

  • Establishing a Revocable Trust

 

  • Placing the Home in a LLC

 

  • A Qualified Personal Residence Trust

 

  • Having an Open and Honest Conversation

 

There are many options available to you in Keeping Your Home in the Family. Call us to help you with these decision or find a trusted advisor in your area, it will be worth it.

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