When the parents die, there is no longer a matriarch or patriarch organizing the vacation and use of the property.
So, who gets the “good weeks” to use the home each summer? Who gets the week it’s most crowded or before school lets out? If one of the kids has four kids of their own and another kid is unmarried and without kids, do they each get the same number of weeks to use the vacation home? What if one child doesn’t want to be a co-owner of the home? What if a grandchild moves in and refuses to leave?
These are all things you need to know before deciding how to leave the vacation home in your trust . Just because you like the idea of your kids all vacationing together long after you’re gone, doesn’t mean they will. If you don’t consider their plans for the home, you may be creating animosity among them.
Be sure to consider the property inside the home as well, and determine whether those stay with the home or are divided among the children.Another option