The change of season signals the use of vacation homes. In the winter, it is the snowbirds leaving the north for Florida and all points south for a reprieve from the cold. In the summer, the Friday afternoon highways are filled with cars as people begin heading north to their cabin or cottage. If you are lucky enough to own such a property, great care and planning is taken in maintaining your seasonal hideaway. But have you forgotten to plan what happens to your personal escape if and when you pass away?
What most people do not realize is that failure to properly include your real estate in your estate plan could subject you to having to open a probate estate in every county in every state where real estate is located. That means that while your family may love to join you at your timeshare in Orlando, Florida, they would be forced to file an ancillary probate action in Orange County, Florida, regardless of the fact you lived and died in Michigan. Same holds true for that cabin in Northern Michigan. Your family may have fond memories of their summer trips up north, but the last thing that they want to do is attend mandatory hearings in the local circuit court on the probate of your family cottage.
What is most shocking, is the solution to this problem is quicker and cheaper than you think. Clients are often surprised and amazed at how easy and affordable it can be. You do not have to have a complex trust or will to properly protect your real estate. In fact, you could protect that real estate with no will at all! Even better news, attorney Andrew Babnik is licensed in multiple states, including Florida, and can assist you in ensuring that your beloved vacation spot remains a beloved vacation spot without first becoming a probate nightmare for those you love. If you or someone you know owns property, please have them contact the attorneys at Kelly & Kelly P.C. to find out how we can help you plan for the vacations ahead.