Are you part owner of a family camp?
Is your camp protected?
What happens if one of your family members passes away?
A Family Camp Trust may be right for you.
What is a Family Camp Trust?
A family camp trust is a standalone irrevocable trust for your camp property. Since camps can be high liability real estate property (in the mountains, on lakes, in forests, etc.) typically doing potentially precarious activities (boating, fishing, hunting, hiking, bon fires, swimming, etc.), this increases the liability of the homeowner if someone should get hurt or killed. Therefore, even when clients hire us for a basic trust plan and have a camp or a camp interest, we recommend a separate trust for the camp itself. The camp trust works like an LLC, where the liability is limited to the entity.
Protect your family camp for generations to come.
Call the Estate Planning Law Center at (315) 793-3622 and get started today or register for one of our upcoming workshops.