ENG2322. Transferring the Family Vacation Home (EST, TAX)

This session will explore both the quantitative and qualitative issues involved in keeping a family vacation home in the family. We will explore techniques for transferring the home, income tax issues as well as important issues the family needs to continuously navigate to maximize harmony.

Learning Objectives:

• 1. Learn pros and cons of various gifting strategies including generation skipping transfer opportunities.
• 2. Learn strategies to proactively address issues that tend to cause family conflict around both ownership and use of the family vacation home.
• 3. Identify income tax issues associated with different ownership strategies