Owning a vacation home can create complicated family estate and income tax issues. Keeping the cottage and property in the family will not happen without thoughtful planning.
Trent C. Hilding, agricultural law attorney, was featured in the June 2017 issue of Great Lakes Banker Magazine. A fifth generation farmer, Hilding owns and operates a family farm in Central Michigan. His article, “Weathering the Current Agricultural Lending Market,” advises farmers and lenders that agriculture is a business with cyclical events and all should be prepared for and understand the possibility of disruptions with many risks and rewards involved.