Cabin
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Using an LLC to own and operate your recreational property instead of an old fashioned, restrictive trust.
Cabin
- 2. The Family Summer Home is Where We Go to Visit Our Roots, Relax and Remember.....
- 17. So How Can We Keep It For the Kids and Their Kids? Choice of Entity Trust LLC Strong Rules Succession Plan Tradition New Flexible Living Rulemakers
- 18. LLCs Your Own Country Club P The Operating Agreement Sets the Rules P Members and Memberships < Could Spring at Birth < Expire at Death P Managers - Like a Board of Directors < Initially Present Parents < Later Generations When Parents Step Aside < Control the Cabin - Make the Rules
- 19. Articles of Organization Operating Agreement Who is Eligible for Membership? Loss of Membership How are Managers Selected? Terms of Managers
- 20. Managers Decide Duty of Fair Dealing Who Can Use? When? (Schedule) Occupancy Costs Budget Improvements Sale, Mortgage Rental Discipline, Maintenance
- 21. Utilities Insurance Repairs Taxes Improvements
- 22. How Would You Like It Done?