You can help avoid probate for a cabin by utilizing a number of estate planning techniques and tools. Of course, there are pros and cons to each, as one size doesn’t fit all.
In no particular order, here are the 5 ways:
- Grantor Retained Annuity Trust (GRAT).
- Record a transfer on death deed (TODD)
- Transfer the cabin into a Cabin Trust
- Have an entity (like an LLC) own the Cabin
- Deed or transfer the cabin now, while reserving a life-estate
- Sell the family cabin before death (Death Clock).