Wisconsin Trusts & Estates Blog
Family cabins are often a source of memorable family experiences, and assets most likely to be kept in the family as part of an estate plan.
In most family cabins, the parents (generation 1) are the original owners, and at some point pass the property on to their children (generation 2). We have worked both with parents and with second generation owners to structure cabin ownership in a way that meets their needs.
Every estate plan we do starts with a free consultation. We get a lot done during those meetings, but they really (honestly) don’t require much preparation. Here’s what happens.
First, we cover the basics of what an estate plan does, and how the process works. Next is a chance to get to know a little bit about you. We want to understand your family structure—how many kids and what are their ages, and same for any grandkids. For people without kids, we want to understand who your nearest relatives are. We also want to understand asset structure. We don’t need to know too many details—just a general idea of net worth and how it is structured.
