Need to get your client thinking about passing on the family cottage? Try these tips.
Schedule a family meeting for your client to kick-start the conversation. Run through the estate planning factors that should go into the decision and encourage everyone to participate in a frank discussion of what they want to do. If certain family members will have excessive tax exposure triggered by inheriting the cottage, make sure you’re able to explain that, or bring a tax lawyer or estate planning to the meeting to provide details.