Adding kids on New DVC

[jcf]

Are people adding their adult children to the deed. I'm buying back in (at age 50) after selling out several years ago. What if you don't add their names? Fall into the Estate?

 

[supersnoop]

You have to be mindful of things like community property, financial hardship, and divorce. If you add your kids and they get into a difficult situation, the DVC contract is part of their assets and may have to be sold to pay bills or separate assets. Would you buy property with your kids? Because that's exactly what you're doing.

 

[ColoradoDisneyFan]

I just had this conversation with my husband as we are in our late 50s and looking to buy back into DVC after selling many years ago. If we buy direct, I thought it would be great to give them each a Blue Card. I know anything can happen but I am not worried about either of them wanting or needing to sell and being difficult if they are on the deed. You have to know what is right for your family.

 

[Boopuff]

I have two adult kids as well, and I also thought that if/and when we buy into DVC, I"d like them to co-own with us. But now i may have to seriously look into them being co-owners. Is there another way to put them on the listing without owning to get access to discounts etc.

 

[_auroraborealis_]

I have two adult kids as well, and I also thought that if/and when we buy into DVC, I"d like them to co-own with us. But now i may have to seriously look into them being co-owners. Is there another way to put them on the listing without owning to get access to discounts etc.

Nope.

 

[Sandisw]

I added my adult kids last year to my contracts in my August UY. I had SSR and we wanted to buy RIV with everyone.

I still own a DecUY with 2 contracts just in mine and DHs name. I did it to give them direct benefits as well as contracts that expire a long time from now.

Obviously, there are things to consider but feel pretty confident we made the right decision For us.

 

[jcf]

If you don't add kids, at death does your estate just sell it? Or can leave it to kids?

 

[Sandisw]

My understanding...could be wrong....is that the estate would have to take it through probate, but yes, it can be left to children. That is why when we added the kids we were advised to change title to joint tenancy with right to survivorship. This way, as each of us passes away, there is no need to do anything as everyone else remain as owners.

 

[DisneyHumbug]

I just added my kids (they were associates since they were minors when I bought). With Covid it's turned out to be a lengthy process. Started in June....deed recorded Sept 17 - still nothing from Disney and the website hasn't been changed either. If you want those blue cards...plan ahead.