In the other extreme, one client has decided to leave her cottage to one of her three children and let that child battle things out with the other two later. Some cottage owners take a seemingly less drastic approach. They leave the cottage to everyone. The cottage is a very important part of me and my grown-up children. Handing the cottage down from one generation to the next goes more smoothly when the lines of communication are kept open.
Most people are surprised.
What kids want is not what their parents thought they would want. It may be that not all the children want the cottage either because they cannot see using it much, being able to afford it or because they don't think they can get along in a shared relationship with the rest of the family. As you share Thanksgiving dinner or during the long drive back from Lake Muskoka or wherever those warm memories are created, give some thought to who is going to inherit your cottage. Why not be sure your heirs aren't saddled with a problem but rather giving thanks for a wonderful legacy. Written by PJ Wade Click here for a printer-friendly version of this article.