"OLD" People Ever Buy?

[B and B]

We are an older couple in mid 50's with two grown children,(ages 27 and 30), who both have young kids. We want to know if the DVC memberships can be in two names like one of ours and one of the kids, since in all reality we will not be going to Dis til 2042 Are there any folks out there with advice for us oldies but goodies, and how to make this work?

Thanks in advance, as always,
B and B

[WebmasterDoc]

Watch who you're calling "older"! :D Sounds like you're in about the same boat as us! Our children are about the same age and so are we!

We joined in '93 and have really enjoyed the ride thus far. Yes, you can have joint ownership, but the membership may also be passed along in a will or given to your children at some point in the future. There are several possible ways to handle these details. DVC van help advise and create the means which will work best for you.

Enjoy!

[B and B]

:pinkbounc

That is good news, but who advises if one buys a resale? I don't guess the Disney DVC people will advise if we don't purchase from them.

B and B

[WebmasterDoc]

If you are buying a resale you will have to deal with a resale broker.

<a href="http://www.dvc-resales.com/">The Timeshare Store</a> is the sponsor of this site and can assist you with ownership details. You may also want to contact DVC yourself (1-800-800-9100) and discuss general concepts with them for what you wish to do.

Another broker is <a href="http://www.atimeshare.com">ATimeshare.com</a>.

Enjoy!

[Gail Reale]

Hey BandB, watch who you're calling "old"!!!!;) We bought in '95 when we were both 52 and our kids were in their late teens. They have enjoyed many a vacation with us, and now, 6 years later the grandchildren are tagging along. We made sure that our DVC was in the will, so the kids can enjoy it after we are "gone" (although our spirit will always be at OKW!!). Don't hesitate to buy - we are not "old", we are "seasoned" :earsgirl: :wave:

[GAIL HAYDEN]

Right on Gail. I am not older, I am better. :)

[Dave M]

We are currently in our 60's and bought in 92. The grown kids and their families have gone to OKW with us twice. When we are gone they will have the time to go many times. They have asked that we set something up for them so they can enjoy WDW and won't have to fight over the points.

[drusba]

You can buy by having your and a kid's name on the contract and deed. You can also buy with ownership in your name and then name one or more of the kids as an "associate member" which would give them the right to make reservations but no ownership rights.

Your question raises more an issue of estate planning that you should discuss with a lawyer rather than something you should rely on DVD to give advice (DVD would simply tell you the same thing that I said above about how the transaction can be structured). There are potential issues that need to be considered before deciding to make one of the kids a joint owner. Those include tax issues (who takes the deductions?) and the I-prefer-not-to-think-about-them issues (adding child to ownership could later lead to problems--for example that child's spouse could have a legal interest in the property and if they divorce you could find the property being subjected to the divorce proceedings and possible forced sale). In other words, legal advice should be sought before deciding to add a married child to the deed.

As for age, we bought just a couple of years before the now 3 and 2 year old grandkids showed up.

[Joe T.]

We bought in 1995 in partnership with our daughter. She was just completing her Naval service, and was interested in some the special trips that are available. All three names are on the contract. We had to name one of us as principal owner. Of course, we named her because she would be around until the end. We were in our early sixties at the time. We have added points twice with no problems even though she lives in MN. As a side, her priorities have changed - married with two babies. I think the exotic rafting trips may take a back seat for a time. We had our first family trip to WDW this summer. Her youngest was just two months old. Up to this point , my DW and I have used most of the points for other family and friends. When the children are a little older I am sure she will be the prime user. It has been a very rewarding experience.

[Disney Duo]

Go for It!! We are right there with you in age(maybe even a little older). We just bought a resale in January. We like to go a couple of times, spring and Dec. by ourselves and then take one of our kids and grandchildren in the summer. We have two children and five grandchildren, so we probably need to buy more points!!! Our children love Disney as much as we do, so they thought the idea was great!! Just do it and enjoy....no matter what your age!

[chainkid]

I think that you will find that no old people buy DVC because only people who are young at heart feel the disney magic enough to want to return year after year. I'm a kid of 51 and my husband is 52. We bought in 1999 and have a son who is 23. He might get to use my points on occasion but I plan to still be in the front row of Rockin Roller Coaster at 91. So if you are young at heart 2042 is not long enough. LOL Joan

[scootert]

Old?? Who's old?? DH (in the mid 50's) and I (in the latest of 40's that you can get!!) decided to give ourselves DVC as a present to celebrate getting everyone through college this year. When the time comes, we can pass it along to the kids -- for now -- WDW here we come!!!

[dianeschlicht]

We are 55 and 54 with grown "kids" who are 26 and 32. They come with us occationally, as do lots of other friends and family, but we couldn't get along without our Disney fix once or twice a year!:D We bought this for us and plan to leave it to the "kids". Now I just wish one of them would get married and give us some grandchildren to enjoy before we do get "old"!;)

[Disney Doll]

We bought directlyt fron Disney(not a resale) and they told us it is completely willable.

[OKW91]

We bought in 91, we were both 51 at the time, we think it was a great investment, now our grandchilren have made 2 trips with there parents. I don't think you are ever to old to buy into the DVC, you can just pass it on to your children!!

[fkj2]

I'm with chainkid; I intend to be riding Space Mountain until I'm 83 and after that we'll see. Of course, that only leaves 4 more years on the contract so I won't miss much if I can't.

[Jeanne]

As soon as my parents (both in their 60's) found out that we had bought a membership, they also bought one. We have gone several times together, they have taken my adult brother, and gone several times on their own. They particularly like the special interest months that seem more adult focused. they have gone during the Epcot garden month in May, and taken special tours, and there is also the wine tasting in Epcot in the Fall. The DVC membership is the only item in the will that might get fought over someday in the future.

[BobH]

We put our two kids on deed. The only question was their age. I believe I was told by myDVC guide that they had to be at least 18 years old to comply with Florida Law. You should figure how it fits into your estate plans however. We did not consider future spouses of our kids and the impact on our ownership in the unhappy event of a divorce etc.

[wdwendyd]

Jeanne-
That is so sweet that your parents bought so that you could vacation together sometimes. I wish MY parents would do that! Oh, well. At least my kids' parents bought!!! ;)

[TwirlerGirl]

When we purchase our DVC membership in 1997, I was depressed, 49 yo and just lost my job. The company I worked for was installing a new LAN system I was not trained on. So out with the old and in with the new. Owning a piece of the magic brighten my life. I starting planning extended family vacations although my two boys were living on their own and were not married at the time. DH was trilled to have a second honeymoon and many glamorous vacations we would never have taken without DVC. Five years of planning will finally be realized in Sept. 2002. We are taking our first family vacation with the grandchildren. The parents are sneaking off in the middle of the week for their own private mini vacation and leaving the grandkids with us at WDW. The grandbabies will be 4 and 2 at that time. A grandparent's dream come true.

Our youngest DS is a real Disney fan and not to be out done, I promised him a Disney honeymoon when the time comes or location of his choice we can trade for. He has already enjoyed one WDW mini vacation on us. His girlfriend was eyeing the info on Disney Weddings. Maybe the families will be celebrating a special event in 2002?

We will never be to old to enjoy WDW and share the magic with our family. When the time comes, we have willed the remaining DVC time to the boys to be shared equally or sold as they see fit. It is our hope we will give them a lifetime of happy memories with this gift.


Sandy B.

[Joe T.]

Hi Twirlergirl from a fellow Marylander.
I can practically guarantee you that your trip next year will be a highlight of your life. Our grandchildren were 2, 4, and 5 for our first family trip. During the MK Spectomagic parade, the youngest didn't stop squeling in delight for the whole time. It was a magic trip only available at WDW. This past summer we had our third trip with the girls. The oldest is now 13. Time does fly when we plan our trips.
Welcome to the boards - don't hesitate to ask any question.

[Ralph&Pam]

We prefer to think of ourselves as part of the 50 and better generation, not the 50 and over group. In any case, we bought just this year (at 55 and 54 years old). Our grown DD and DS are also listed on the deed. Both are major Disney fans and sometimes accompany us to WDW.

Ralph

[GraceDVC]

We purchased our initial points five years ago when we were 52 and 54, naming our two unmarried children as associates. When we decided to add on points two years ago, we chose to have all four names on the contract as owners (and later had our original contract amended to list all four names as owners). There are a couple of reasons why we decided to have all four names listed as owners: the pts. automatically belong to the surviving owner(s); each family (our two children now are married) receives all the benefit updates, point charts, correspondence, and quarterly DVC Magic newsletter ; each family has its own DVC Membership Card to use for discounts at The Disney Store; and our children feel so much a part of the DVC even though they moved to another state after they married.

We have no problems with planning or sharing points because it is acknowledged that my husband and I go every year for 10 to 12 days, and usually each of our children go every two years. We can't wait to have us all share a Grand Villa in the near future! It works for us but each family has to assess its own circumstances. Whatever you decide, definitely join DVC!

[bwvmary]

My mom bought after we did. We went to BWV together (she was on a Fall Fantasy plan, and we had our first DVC stay). She must have been about 62 at the time. We all had such a great time together (our second family and Grandma trip to Disney) that she decided owning points of her own was the way to go.

We spend a week to 10 days or so every summer together at Disney with Mom, my brother, DH, DS1, DS2, DD and me. We all love spending relaxing time together. Orlando is easier to get to than where Mom lives (tickets cost about a third as much, which adds up with a family of 5!). Mom is a big Disney fan, and I guess the rest of us are too. Kids are 10, 8 and 6 now. They've gone to Disney lots of times. There's something for everyone - the parks, pools, golf courses, restaurants, etc. We always have a wonderful vacation. It changes every year as the kids get older. We also find a nice benefit is that we don't get "Disney Stress Syndrome" as we know that we will be back in the not to distant future.

I don't know what Mom has planned with the Disney points, estate wise. I'm sure that it's included with her assets and will pass to the next generation in as tax-advantaged a manner as she can find. She did buy the points in her own name, alone, though.

I say - go for it. 2042 isn't that far away. Plan to use all the points yourself, and do some backup estate planning, too.

Good luck!

[bres@westernMA]

You guys brighten my day. The wife and I bought in '97, we were 45 & 46 respectively. Actually the trip that we bought DVC was our first vacation away (for more than a few days) without the kids in 24 years of marriage. My wife was the one interested in DVC, I needed to be convinced and have never looked back. Vacations at the DVC are great alone or with family. Now that the kids are older, a visit to WDW is one of the few vacations that will assure their participation and enjoyment.
Some day there will be grandkids and I look forward to that time but things are just fine right now. As a matter of fact we (me and the boss) will be at BDV for a short week (during the WDW National PGA tournament) in just about 62 days. I can't wait.

[mtertell]

My husband and myself (married no kids) and my sister not married
bought a resale in 1998. At that time we were 45, 42, and 39, .
We took our first trip for thanksgiving '98 bringing my parents along.
While walking about we commented that when DVC expired we would
be 89, 86 and 83 respectively. My dad who was having a great time
commented that he would be 111. He said this with a very straight face
and he truly believes he will be celebrating our last year of DVC
with us and he probably will. I guess by then it might be difficult to
get a first floor home at OKW with so many of us being elderly.
By the way, while on our first DVC vacation my sister received a call that
she would be going to China for her daughter (my niece) very shortly.
I went with her in February 0f '90 and since then she has been to disney
3 times with our 4th trip this October. At least we have someone to will DVC to.
Meg

[DisneyHumbug]

Grace - when you had your original contract amended to add the kids names, did you do that thru disney? my kids were too young to add at the time (they told me the kids had to be 18), so I plan to add them as soon as the youngest turns 18.

[GraceDVC]

Yes, we did the changes through Disney. It cost us a fee for the paperwork; can't recall exactly how much, but we felt it was worth it. Our two children are delighted to receive all the DVC info that is now sent to them in their own homes. My husband's social security number is listed, and we claim the real estate taxes on our returns (because we pay the dues!).