Family retreats (cottages, cabins, beach homes, etc.) are often the most cherished of estate assets; their use by family members can have a positive effect on family dynamics after parents are gone. However, leaving a share of the cottage (along with its proportion of the upkeep and taxes) to each child may place a burden on some of the sibling owners and make it difficult for them to equitably divide the use of the retreat. 

Creating a family-retreat subtrust in your living trust can afford a workable alternative to dividing the interest among your children. In the subtrust, you can name all the children as trustees and create a fund for maintaining the property regardless of its use.