Our Approach to Cabin Trust Planning
Spending time at the cabin is a huge part of Minnesota culture. Not just lake cabins, but special hunting shacks, ocean front condominiums or timeshares, anywhere the family gets together to spend time. All these places have one thing in common – families use and enjoy them together over many years and want to preserve the opportunity to continue that tradition for future generations.
These types of properties provide, however, unique planning challenges. Just as the mutual fondness and affection for the property motivates families to want to preserve the property, the differences among family members can make it difficult. Without some rules and principals, what has always been a source of pleasure can become a huge frustration. Indeed, it can fracture family relationships, especially when mom and dad are no longer able to oversee the property.
The use of a trust can provide structure to allow your special property to continue to provide years of enjoyment for your family. The trust can provide methods for determining who uses it and when, maintenance, cost sharing, supply responsibility, etc., with as much or as little control and guidance as you think is needed for your family. Plus, the cabin trust will also protect the special property from claims against individual family members or other descendants that may otherwise attach to the property. A Cabin/Recreation Trust can allow that special property to continue to be special property for a family even after “Mom and Dad” are no longer there.
Other Services We Provide For Your Life
- Estate Administration
- Trust Administration
- Cabin Trusts