As we have discussed on this podcast, legacy planning is not just about transferring money. It’s also about transferring values and relationships. And often the transfer of specific property goes hand-in-hand with the fostering of those values and relationships. To this end, many clients hope to pass along a family vacation home, farm or other gathering place to future generations. Practitioners and advisers often refer to this as the “family cottage.” The idea is certainly attractive. And if transferred in the right ways, such a “family cottage” can be a gathering place for generations to come, and a place where those values are communicated, and those relationships are fostered. Unfortunately, if not transferred correctly, the “family cottage” can become a source of tension and resentment for the family and can undermine those same values and relationships that the client hoped to encourage. This episode explores factors to consider in structuring such transfers.