The family cottage traditionally holds a sentimental place for many people. It is the gathering spot for families, bringing back fond memories as a child growing up, as parents with your children, and as the family patriarch and matriarch. Often, people desire to keep the cottage within the family for generations to come, to continue to provide a place for everyone to gather together and feel as one. This view is often held by the senior generation, envisioning their children, grandchildren, and subsequent generations bonding together at this special gathering place. Despite these fond memories and the desire to maintain the family cottage, there are challenges to consider.
Developing a plan for the succession of your family cottage is imperative in order to avoid, or at least have mechanisms in place to deal with, potential problems and conflicts in future generations.
