13 Mar Fair Division: How to Split the Cost of Redoing Your Family Cottage
My family has a cottage that has been in our family since the 1920s. It is in all of the grandkids names, but is getting to the point where only two of us are really contributing. It needs a new roof and the windows are horrendous, but the others don’t plan on paying for anything and putting any money into it. What should we do? I don’t want to really pay for it and then they all benefit from it.
Owning a family cottage is often a cherished asset, filled with memories and traditions. However, when it comes time to renovate or redo the cottage, dividing the costs can become a source of tension among family members. Fairly allocating expenses while preserving familial relationships requires careful consideration and communication.
Let’s explore the various strategies and approaches to help you navigate this potentially delicate situation: