Keep family harmony when transferring a vacation home

Description

Abstract: When deciding to transfer a vacation home, simply dividing it equally among children or other family members may seem like the fairest solution, but it can end up being an invitation to conflict and hurt feelings. Some family members may care more about keeping the home in the family than about any financial benefits it might provide. Others may prefer to sell the home and use the proceeds for other needs. This article discusses ways to resolve this conundrum, along with estate planning strategies available for those who don’t wish to give up ownership immediately.