How to best bequeath the cottage
"Is there nothing more Canadian than the family cottage? Long lazy days by the lake, barbecues and beers capped off by a bonfire and roasted marshmallows under the stars. But those precious memories can turn bittersweet when the family cottage becomes part of a tug of war among adult siblings after the parents pass away. Most families are quite accepting that the city house is sold and the proceeds go to the estate for division among the heirs but because of the sometimes emotionally charged wishes of the parent(s) that the next generation continue to enjoy the cottage, we often see the country property bequeathed equally among multiple children."
Read more: http://bit.ly/Mi6ikF Montreal Gazette
It is something to think about.
The Association is looking in to setting up a Cottage Succession Planning seminar through FOCA. If you are interested let us know
http://bit.ly/LJva3Y FOCA Cottage Succession