Estate Planning- Children Sharing Assets

It is understandable for parents to want their children to share some of their assets,  such as a cabin used for family vacations.  The children will most likely want to spend time at the cabin with their families.  However, with co-ownerships, there can be headaches.

It is important to fully bring your children into the discussion of your estate plan, if you plan to give an asset shared ownership.  If the children will be partners, they will need to discuss, negotiate and come to agreements about how they will work together.  Forming a detailed guide or partnership charter, can help set up how the children will interact as partners.

Having an agreement will give children practice working together and parents the peace of mind that their children will work together successfully to co-own the asset.

Do you need help setting up an agreement?  We can help!

Todd Courser 810-245-0813