How to Keep a Vacation Home in the Family with Wills and Trusts

Owning a vacation home in Jacksonville—or anywhere in Florida—is a dream come true for many families. It’s a place where memories are made, milestones are celebrated, and bonds between generations are strengthened. But without careful estate planning, this cherished property can quickly turn into a source of family conflict and legal headaches. Whether your vacation home is a beachfront bungalow in Ponte Vedra or a cozy cabin near the St. Johns River, having the right plan in place is essential. This article explores how Wills & Trusts can help Jacksonville families preserve their vacation homes while avoiding probate, maintaining fairness among heirs, and ensuring the property remains a source of joy.

Why Is Estate Planning for a Vacation Home So Complicated?

At first glance, leaving a vacation home to your children in your will might seem simple. But the challenges begin after you’re gone. Here are a few questions that often come up:

• Who will pay for maintenance, insurance, and taxes?
• Who gets to use the home during holidays or peak seasons?
• What if one heir wants to sell, but the others don’t?
• What happens if someone gets divorced or passes away?

These questions can create deep divides between family members. What starts as a place of connection can quickly become a battleground if your estate plan isn’t clear and structured. For more guidance on having family conversations about inheritance, read our article: Why Should You Talk To Your Family About Your Estate Plan

Should You Use a Will or a Trust for Your Vacation Property?

Wills: A Common Starting Point—But Not Always Ideal

Wills are a basic estate planning tool, but they have limitations—especially in Florida. Assets passed through a will must go through probate, a court-supervised process that can be time-consuming, public, and costly. This can delay access to the vacation home and may create tension among your heirs.

Trusts: A Smarter Path for Smooth Transfers

Instead of relying solely on a will, many Jacksonville estate planning attorneys recommend placing your vacation home into a revocable living trust. This keeps the property out of probate, allows for quicker transitions, and provides privacy. You can also specify exactly how the property is to be used and maintained after your death.

For example, a trust can:

• Set a schedule for who can use the property and when.
• Allocate funds for maintenance and repairs.
• Require unanimous agreement before selling the property.
• Appoint a trustee (like one child or a trusted advisor) to manage decisions.

What If Only One Child Wants the Home?

This is a common situation. Perhaps one child loves the vacation home and lives nearby, while the others live out of state and have no interest. In this case, your estate plan might give that child the option to inherit the home outright, buy out the others’ shares, or receive it in exchange for a smaller share of other assets. Proper planning allows you to balance inheritances fairly and avoid hard feelings later on.

Should You Create an LLC to Own the Property?

If you’re planning to pass the home to multiple heirs, consider forming a Limited Liability Company (LLC). Each heir can own a membership interest in the LLC, and you can establish an operating agreement that outlines:

• Use schedules and booking rules
• How expenses are shared
• What happens if a member wants to sell their interest
• Who manages the property

This is a popular option for rental homes or properties used seasonally. An LLC keeps ownership structured, avoids disputes, and provides legal protection.

Planning for Medicaid and Long-Term Care

If you’re concerned about future long-term care costs, talk to your Jacksonville estate planning attorney about a Medicaid Asset Protection Trust (MAPT). This irrevocable trust can protect your vacation home from being counted as an asset if you ever need to apply for Medicaid. However, there’s a five-year look-back period, so early planning is critical.

Family Communication Is Key for Protecting the Vacation Home’s Legacy

Don’t surprise your heirs with your vacation home plans. Have open conversations early—ask your children if they even want the property and how they would use it. Their answers might guide your planning decisions and help you avoid misunderstandings.

Preserve Your Vacation Home Legacy with the Right Help

At Legacy Planning Law Group in Jacksonville, we understand how deeply personal your vacation home can be. It’s more than just real estate—it’s part of your family’s legacy. With thoughtful planning using Wills & Trusts, we can help ensure that legacy continues in harmony, not conflict.

Whether your goal is to keep the home in the family, turn it into income-generating property, or simply make the transition easy for your loved ones, we’re here to make the process simple, stress-free, and tailored to your wishes. Schedule a Discovery Call with Team Legacy to Get Started.

Reference: The Press-Enterprise (July 2, 2023) “Do family vacation homes foster closeness or animosity?”