Adding adult children to our dvc?

[kylie]

Has anyone successfully done the above. I got an email from dvc and a dvc waiver form and it seams complicated and they advise consulting a property transfer lawyer

I think that if I add them they will be dvc members and entitled to membership benefits then they can add points resale into the family pot as and when they can afford it.

In the meantime they will be able to purchase gold ap for their trips.

Am I wrong in my assessment

 

[Fred M]

You’re not wrong. But you will be sharing complete control of your DVC account with your children. So in addition to what you mentioned, they will be able to bank and borrow or make reservations without your approval.

I haven’t added my son (he’s only 5), but it’s helpful to consult with a lawyer. I don’t know much about UK law, but here in America, there could be gift tax consequences by adding them and it could be considered an asset for public assistance programs.

 

[kylie]

Thanks Fred I don't need to fear my children robbing me of my points, thankfully.

 

[DVC DIVA]

Has anyone successfully done the above. I got an email from dvc and a dvc waiver form and it seams complicated and they advise consulting a property transfer lawyer

I think that if I add them they will be dvc members and entitled to membership benefits then they can add points resale into the family pot as and when they can afford it.

In the meantime they will be able to purchase gold ap for their trips.

Am I wrong in my assessment

Hi Kylie
Just in the process of adding my daughter now will let you know how I get on.She already has permission to book stays for herself which you can do if you don't want to go down this route

 

[Lilsia]

I won't even add my husband let alone my kids. LOL

 

[Drivehome]

 

[crisi]

So there are risks - if they are on the deed it becomes their asset. Laws vary by state and country but if they declare bankruptcy, your DVC may be at risk. If they get divorced, it may be an asset in the divorce proceedings.

 

[Wakey]

Why bother? Maybe just add them as an associate so they can speak to member services etc and tell them when you are gone, this is the password, this is how you pay dues on the credit card, then it’s up to you- use them or rent them out. Not the official way of course, but a lot easier. Just means they cannot sell it, but if ours outlives us I will be very disappointed, but wouldn’t expect there to be many years left.