Many Kent area residents own a vacation home. These special places are where families gather to make memories and get away from it all. Many times these homes are passed down through the generations, ensuring that they remain in the family for a long time. Before a person passes their vacation home to their children through a will or trust, there are a few things they should consider.
One thing a parent should consider before passing the vacation home to their children is to make sure the children even want the home. It is important to check with the potential heirs to see who would want the vacation home. An heir would need to consider the upkeep cost, distance to travel to the home and other factors. It is also important to determine how to leave the home to the children.