It’s no secret that many Minnesotans enjoy a weekend retreat to their cabins and vacation homes. For many families in Minnesota, a cabin is an important piece of the family, and may have been around for generations. In order to protect this property for generations to come, you might consider a Cabin Trust. Our lawyers can help you set up a cabin trust that will keep the cabin in your family after you pass away.
Minnesota Cabin Trusts
A cabin in Minnesota can be a source of life-long pleasure and memories. Cabin trusts have become widely popular in the state of Minnesota in order to help protect these investments and keep them in the family. This part of an estate plan can help ease the burden of property transfer and also resolve potential conflicts that may arise.
A cabin trust ensures that your cabin will stay in the family and be used according to your wishes. A cabin trust not only establishes the beneficiaries of the cabin, but it also can establish guidelines for the future usage of the cabin. When the owner of a cabin dies, there are many potential conflicts that can arise. There are many different issues that siblings and other family members may argue over regarding the cabin or vacation home. A cabin trust helps to serve as an intermediary in these disputes.
A cabin trust may establish rules regarding:
- Whether or not the cabin may be sold (as well as when and how it may be sold);
- Who has rights to the cabin, and what those rights are;
- Who will be responsible for maintaining the cabin;
- Who will pay the taxes and bills necessary for the ownership and upkeep of the cabin;
- How and when the cabin may be used;
Without a cabin trust, the family cabin may become a source of tension within a family. By establishing a cabin trust in Minnesota, you can help make sure that your cabin will serve as a source of family enjoyment for many years to come. In order to find out how a cabin trust can help keep your family vacation home intact, it’s important to contact a qualified estate planning attorney.
If you are hoping to protect your family or personal cabin, then our lawyers are here to help. As cabin owners ourselves, we understand how special lake shore property can be to a family. With the right cabin trust, you can have the flexibility and protection you need for your cabin and your family. Contact our law firm today at 763-323-6555 for a free consultation.