Trusts & Estates Lawyers Help Client Maintain Family Vacation Compound Through Multiple Generations
To address a family's concern about the administrative burdens and potential divisiveness associated with maintaining the family vacation compound through multiple generations, we devised and implemented a plan to transfer the property to a trust for multiple family members that will create centralized management of the property, impose structure on the use of the property and provide guidance in the event that the endowment for the property falls short at any time in the future.
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