P
Phdicole
Guest
What is the name of your state? PA. Nine family members [brothers and nephews] own a hunting camp. Each owns an equal share. Ages of the owners range from mid-thirties, most are over 60 and retired. Children of the owners freely use the facility. There are rules of conduct in place but not fully controllable since not all owners are present during use. The activities of some users [carelessness in safety, drinking too much, etc.] are a deep concern with regard to their well-being and the legal liability of the owners. Besides the owners' responsibility to control behaviour, what legal advice can be given to limit liability on this touchy situation among family members? Incorporate? LLC? Keep individual ownership of shares? If individual ownership, what is extent of liability to each owner with regards to property jointly owned, IRA's, retirement income,etc. Thank you for your help.