Saving the family cottage

Saving the family cottage

Book - 2009

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346.052/Nolo
2021: 1 / 1 copies available
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Subjects
Estate planning > United States > Popular works.
Vacation homes > Law and legislation > United States > Popular works.
Law for laypersons.
Genres
Law for laypersons
Published
Berkeley, CA : Nolo 2009-
Language
English
Corporate Author
Nolo (Firm)
Corporate Author
Nolo (Firm) (-)
Item Description
"A guide to succession planning for your cottage, cabin, camp or vacation home."
Physical Description
volumes : illustrations ; 23 cm
ISBN
9781413328264
  • Your Cottage Companion
  • Part I. Cottages at Risk
  • 1. Trouble in Paradise
  • Time for a Plan
  • The First Step
  • 2. Avoid the Worst: A Partition Parable
  • 2. Plan for the Best: Cottage Succession Coals
  • Founders' Goals
  • Heirs' Concerns
  • Shared Concerns
  • Part II. Choosing the Right Path
  • 4. No Plan? Then 600-Year-Old Law Controls the Cottage
  • Direct vs. Indirect Ownership
  • Concurrent Ownership
  • Tenancy in Common
  • Nine Rules of Tenancy in Common
  • 5. Other Animals in the Property Law Zoo
  • Joint Tenancy
  • "Indestructible" Joint Tenancy
  • Tenancy by the Entirety
  • Community Property
  • 6. How a Plan Helps Save the Family Cottage
  • 7. Short-Term Solutions
  • Using Life Estates
  • The Ownership Agreement
  • Part III. Forming Your Entity
  • 8. Choose the Right Legal Entity for Your Cottage
  • Trusts and General Partnerships
  • The Limited Partnership
  • The Limited Liability Limited Partnership
  • The Corporation
  • The Close Corporation
  • The S Corporation
  • The Limited Liability Company
  • Comparing the LLC to the Pretenders
  • The Big Picture
  • 9. When and How to Organize the Cottage LLC
  • Now: The Immediate Cottage LLC
  • Later: The Springing Cottage LLC
  • The Mechanics of LLCs
  • The Role of the Attorney
  • Part IV. The Details: Putting Your Cottage Plan Into Action
  • 10. Welcome to the Club
  • Who Is in the Cottage Club?
  • The Branch Concept
  • 11. Cottage Democracy
  • Member Management
  • Using Managers
  • 12. Scheduling and Use
  • Kinds of Sharing Systems
  • Creating a Fair and Sustainable Cottage-Sharing System
  • Cottage Users
  • Unacceptable Behavior at the Cottage
  • 13. Renting the Cottage
  • Is Renting Allowed?
  • Rental Operations
  • Who Is the Landlord?
  • Liability
  • 14. The Cottage Safety Valve
  • The Put Price
  • The Discount
  • The Put Terms
  • Part V. Financing the Future
  • 15. Minimizing the Federal Tax Bite
  • Death, Taxes, and Cottages
  • The Price Tag on Cottage Units
  • Appraisals and IRS Reporting
  • 16. The Ultimate Gift: A Cottage Endowment
  • What Is an Endowment?
  • How Is an Endowment Established?
  • Size of the Endowment
  • How Do Heirs Feel About an Endowment?
  • The End of the Endowment
  • How an Endowment Is Used
  • How an Endowment Is Managed
  • Glossary
  • Index

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