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Descant · 06-19-2025, 10:29 PM

Sue, this is the best post to the point. Owning a camp because you enjoy it is nice, but thinking two (3?) generations ahead is what it's really all about. We can all sell various houses and move around, but the camp is the focus for all generations, even the family kids who now live in Hawaii. One plan: start now for all family members to add $10/week to the camp fund. Even the youngest will have "ownership". If you pay the bills as you are now, they can save up. When the kids are 60, and their kids are 30 there should be enough saved for everybody to use the camp without much, if any, out of pocket expense. They will ALL have "ownership". Planning for one generation to the next is a short term plan. Go for 3-4 generations. A realty trust or LLC might shield kids from taxes and would not be a personal asset that would impact scholarship applications.

06-19-2025, 10:29 PM	#85
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,479 Thanks: 1,390 Thanked 1,667 Times in 1,086 Posts	Best thought Sue, this is the best post to the point. Owning a camp because you enjoy it is nice, but thinking two (3?) generations ahead is what it's really all about. We can all sell various houses and move around, but the camp is the focus for all generations, even the family kids who now live in Hawaii. One plan: start now for all family members to add $10/week to the camp fund. Even the youngest will have "ownership". If you pay the bills as you are now, they can save up. When the kids are 60, and their kids are 30 there should be enough saved for everybody to use the camp without much, if any, out of pocket expense. They will ALL have "ownership". Planning for one generation to the next is a short term plan. Go for 3-4 generations. A realty trust or LLC might shield kids from taxes and would not be a personal asset that would impact scholarship applications.