Remove Brother Remove Grandchildren Remove Sister Remove Taxes
article thumbnail

11 Things I learned After Owning a Vacation Property

Prairie Eco-Thrifter

My sister-in-law and her husband had one that they used and rented out and indicated that it was doing well. I wanted a place for our family to gather – adult children and grandchildren along with us. The tax code for second homes used as rental properties is incredibly complex here in the US. An accountant is required.

Vacation 100
article thumbnail

What Can Go Wrong – Naming a Beneficiary

Prairie Eco-Thrifter

Since you are single, you make your Mom and Dad or your brother or sister your beneficiary. Grandchildren inherit but can’t get use of the money. Maybe you left a chuck of money to your ‘surviving grandchildren’ and they are not yet 18.