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Details for PRUITT LAW OFFICES S.C. / RETAIL - Ad from 2021-10-13
ask the lawyer by James W. Pruitt Attorney at Law keeP It IN the FaMIly Some people meet with me to try to create an LLC to keep the “up north” cabin in the family. The purpose of creating an LLC is to hold the family property and to provide your heirs with a framework in which to manage and operate the family property. The agreement typically creates units of membership for each family. There are many issues that are addressed such as who will likely be an owner or user of the family cottage property. Other issues that can be outlined in the LLC are property expenses, routine repairs and maintenance, rewarding sweat equity labor, scheduling the use of the property, renting of the property to others, the role of spouses, in-laws, stepbrothers and stepsisters, and the vote of the family units. These agreements can keep peace in the family and reserve special vacation properties for the next generation. To discuss an LLC for your vacation property, contact the Pruitt Law Offices S. C. to schedule a phone, video, or in-person appointment at 262-633-8301, or through our website at pruittlawoffices.com. www.pruittlawoffices.com Advertisement