If you invest in property at any point in your life, it’s likely that some of your real estate purchases become important assets in your estate plan. Second homes and vacation homes are a popular investment, between buying an attractive property in a growing area or using the space to make additional income through short-term rentals.
Second or vacation homes that have been in the family for a long time also accrue emotional attachment. Some family members—maybe your own children—grew up in them and made many enduring memories there. Both the emotional and financial value of a vacation home point to the need to include it in your estate plan.