The Washington Report: – Wealth Transfer Edition

“A family vacation home often holds sentimental value; however, sustaining that home within the family over multiple generations presents unique challenges and requires a realistic assessment about the family’s current and future commitment to maintaining the home and a plan for managing and funding that maintenance and potential development over the long term. In addition, owning a second home at death can augment the owner’s taxable estate, especially given rapidly appreciating real estate values in recent years.”

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