(561) 935-9763
Maura Curran, Attorney
Jupiter, FL 33458

Protecting Your Vacation Property – No Nonsense Estate Planning

Hey there, did you know according to the National Association of Home Builders, in 2018, there were about 7.5 million second homes in the U.S. That’s a lot of vacation spots that need a gameplan. So, let’s cut to the chase with some important questions to ensure your vacation property remains the happy place it’s meant to be.

What Happens to the Property When You’re Gone?

Alright, let’s face it. What happens to your vacation home when you kick the bucket depends on how you own it. If it’s all yours or shared with others as tenants in common, you’ve got to decide what happens to your part. If you own it with someone else as joint tenants with rights of survivorship or with your spouse as tenants by the entirety, your interest will automatically go to the other person. No court drama! If a trust or an LLC owns you vacation property, they’ll keep it, and their documents will lay out the next steps.


What Do You Want to Happen to the Property When You’re Gone?

Here’s where estate planning gets exciting–you get to decide what happens to your money and property in a legally binding way. If you don’t make a plan (and if it’s not owned in a way that avoids probate), the state will decide for you. And trust me, you don’t want that. Plus, if your property is in a different state, your family might have to deal with two probate courts. Talk about a nightmare!


Here are some options for your vacation home:

-Give it outright to someone you love: Maybe your oldest kid or someone who’s shown an interest in keeping the place alive.

-Leave it to a group of people: If your whole family enjoys the spot now, why not let them keep enjoying it together?

-Give it to a group with an ownership agreement: This way, everyone knows their rights and responsibilities.

-Transfer it to your revocable living trust before you go: This avoids probate and lets you set all the rules. Just check with a pro about any limits on how long a trust can last.


So, there you have it. Thoughtful planning keeps your vacation home a happy place for your family. Need help? We’re just a call away!


Call The Curran Law Firm today to schedule your appointment at 561.935.9763!