What is the process like?
While every family has a different cabin plan (since every family is different), almost every family goes through the same process. Some move fast and some move more slowly, but everyone goes through the steps outlined to the right.
1. Talk to your family about the idea of cabin planning.
Sometimes cabin owners have the idea that their kids or grandkids would want the cabin because they’ve really enjoyed the family time they’ve spent there. While the great times are undeniable, the fact is that not everyone wants the responsibility of cabin ownership (and maintenance!) and cabin ownership doesn’t fit in everyone’s lifestyles. Before you go too far down the planning path, it’s a good idea to check in and make sure that your efforts will be welcomed and appreciated.
2. Have a consultation to explore your options and get your initial questions answered.
A consultation can go a long way to helping you figure out if cabin planning is right for you, and if it is, which type of plan best suits your goals and situation.
3. Work out the detailed minutiae of your plan.
There isn’t a one-size fits all cabin plan. Each plan is unique as every family is unique. The answers to the important questions – the one’s that make your plan work seamlessly in your unique family – all come from you. Whether you work with us to facilitate the conversations that lead to those answers or you work it out on your own, the choices you make become the foundation of your cabin plan.
4. Create the legally binding documents that comprise your plan.
If you don’t get your plan into a legally binding document that can be enforced, all the choices and decisions you made for your family’s best interests can be undone at a whim of the next generations. The only way to really ensure that your plan is followed is to follow through and make it binding.
5. Execute the agreement, and transfer the property (if needed).
Once all the decisions are made, and they’ve all been thoughtfully recorded in your plan, and the legal documents have been drafted, reviewed, and finalized, you’ll be ready to sign on the dotted line. For Cabin LLCs and Trusts, you’ll be signing a deed transferring the cabin into the LLC or Trust, and the last step will be to record the transfer in the county records office where your cabin is located.
“By the way, if you think this planning sounds expensive, you are right and you are wrong. I can guarantee you that it is substantially less costly than it would be for your family to fight over the cabin after you’re gone, and I’ve never had a family who believed in the value of this important planning to leave my office because they couldn’t afford it. We’ve made monthly payment plans available because we know this planning is the foundation for peace in your family for generations to come.”
Don’t wait any longer. Start planning for your family’s cabin today!
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