Any married DVCers who have their "own" contracts?

[pangyal]

So wait- does this mean that for all of the contracts that hubby and I have deeded together, if anything were to happen to us at the same time, that our son would have to deal with probate court to take over our DVC contracts?

 

[Dean]

So wait- does this mean that for all of the contracts that hubby and I have deeded together, if anything were to happen to us at the same time, that our son would have to deal with probate court to take over our DVC contracts?

Yes likely if he is not on the deeds in a way that bypasses probate. But this may be true whether it's held jointly or individually. The difference is that if it's held individually, you'd possibly have to deal with probate if something happened to that person but the other spouse survives. It depends on the laws of a given state and exactly how the title is listed.

 

[Raenstoirm]

Once a contract is set, is it just like any other real estate and you can change the name on the title for a fee? We have just started the process, but I don't want the paperwork to have to be rewritten and I would like to look into the idea of a trust so our children don't have to think about it if something happens to me.

I started out with our contracts in my name (several smaller contracts in case we wanted to sell -- haha!) As we started doing estate planning we transferred them to a trust since we have contracts at VGC and Aulani and don't live in either state. We didn't want our kids to have to go through probate in several states. Of course because of multiple contracts the cost to transfer was more, but I'm glad we have it taken care of now. Waiting for an add on (in a new use year) to be completed and that new contract will also go into the trust.

How does that work in terms of Disney? Are you and your husband both "members" even though the trust technically owns the units?

 

[BlazerFan]

Once a contract is set, is it just like any other real estate and you can change the name on the title for a fee? We have just started the process, but I don't want the paperwork to have to be rewritten and I would like to look into the idea of a trust so our children don't have to think about it if something happens to me.


How does that work in terms of Disney? Are you and your husband both "members" even though the trust technically owns the units?

When the contract was only in my name my husband was an associate (I think that is what it was called) but not a member. Now that the contract are in a trust, we are both trustees of the trust and he how has a member ID and is a member.

 

[Popouri DVC]

How does it work if you were single when you bought your first contract, then buy a second contract with the same use year but are now married? Do the points still combine? Same membership number?

Or is it a completely different account?

 

[Dean]

How does it work if you were single when you bought your first contract, then buy a second contract with the same use year but are now married? Do the points still combine? Same membership number?

Or is it a completely different account?

For it to combine it must be titled exactly the same AND the same UY. In this situation you'd either need to buy it just in your name even if married OR change the title legally before buying a new contract.