Family Cabin
Mar 05, 2014OUTCOME: The parties were in agreement to the terms and the cabin is now protected against most claims by creditors.
Clients often want to protect a family cabin or retreat for the benefit of their heirs and to protect the cabin against claims of creditors (such as a spouse of an heir in a divorce proceeding or gener ... al creditors) Options exist on how to do this which range from transferring the cabin to a trust or holding title to the cabin in the form of an entity such as a limited liability company or partnership. A client and her sister-in-law recently visited the office and we created a limited liability company (along with a detailed operating agreement) to own the cabin for generations to come.
