Leaving Property to Multiple Heirs? What to Consider

A family meeting is essential to determine whether your heirs want the property, and then it’s a matter of choosing the legal arrangement.

Family members hold hands around the dinner table and say a prayer.
(Image credit: Getty Images)

Arguably one of the most difficult aspects of estate planning is choosing who will be receiving your inheritance once you’re gone. If you have any additional property, like a vacation home, its essential that this gets added to your overall plan. It’s a big decision to make that can become even more difficult depending on your family dynamics.

Any mishaps or misunderstandings can lead to a costly battle in probate, which could be disastrous enough to break families apart. But with a clear understanding of your options and adequate planning, you can ensure your vacation home is handled according to your wishes.

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Patrick M. Simasko, J.D.
Partner, Simasko Law

Patrick M. Simasko is an elder law attorney and financial adviser at Simasko Law and Simasko Financial, specializing in elder law and wealth preservation. He’s also an Elder Law Professor at Michigan State University School of Law. His self-effacing character, style and ability have garnered him prominence and recognition throughout the metro Detroit area as well as the entire state.