How do your grown children feel about DVC?

[thelionqueen]

My children are too young for me to know right now. But I bought separate contracts "just in case". But quite honestly, as long as I'm breathing, and can have even partial mobility I'm going to DisneyWorld! So until they take the deed from my cold dead hand, I won't have to worry if my kids will want it

 

[Brancaneve]

I am coming to the conclusion that I will be selling my DVC points when I am unable or unwilling to use them myself.

My two grown daughters have little or no interest in my DVC. One has moved with her family to the left coast and the other is divorced, remarried, and has joint custody. Both are financially well off and regularly take vacations without my points.

I read a comment on these boards that DVC is a liability,(maintenance fees, etc.) instead of an asset. I think that is what my DVC will be to my children if I do not sell it before my wife and I die.

We are in our 60's and, hopefully, have many years left!

You sound like a nice couple..... Perhaps you can adopt me! I make a great DVC daughter! Plus, I can clean, wash clothes, make a mean stew and pie. Just don't bring any apples around.

 

[BroganMc]

So if we put the DVC in a trust, that would work?
I guess we are getting to that stage in life that we need to see a lawyer and protect all our assets. Thanks BWV Dreamin!

IIRC you can put anything into a trust. You can also name anyone as trustee and anyone as beneficiary. Some folks put their assets in a trust for Fluffy the Family Cat, which has been the subject of many a comedy movie.

Look up Revocable Trust and find a local estate lawyer. A good one can draw up a plan that works best for you. Also a Living Will and Power of Attorney (if you are single, widowed, i.e. unprotected by a marriage license).

In talking to my Guide I learned DVC allows you to change any titles for paid contracts as any other property. I think this applies to something within the family and your regular inheritance plans. You need a property lawyer in Orlando to handle the documents in Orange County. Last time I priced that it was a few hundred dollars. So you could title your DVC contracts "Revocable Trust of [insert your name]" then have full access to the contracts for use as long as you live and then for whoever you name as beneficiary of the trust when you die. Your Trustee is the person charged to carry out the trust's instructions, including paying the bills.

You'll also need to put some money in the trust to pay for it's required fees. Then you're looking at investment plans and how far you can stretch your funds to meet the expected growth in expenses.

If you're getting into the realm of estate planning, I highly recommend finding a good local lawyer. You need to think about things much more weighty than just vacation clubs when you reach your elder years. There are medical expenses, living expenses, even funeral and burial expenses. It seems grim but in my experience it saves a lot of heartache later for those you leave behind. The hardest thing to do is discern what your loved one would want when you're grieving their loss. We learned a lot from my mom's passing.

 

[BWV Dreamin]

IIRC you can put anything into a trust. You can also name anyone as trustee and anyone as beneficiary. Some folks put their assets in a trust for Fluffy the Family Cat, which has been the subject of many a comedy movie.

Look up Revocable Trust and find a local estate lawyer. A good one can draw up a plan that works best for you. Also a Living Will and Power of Attorney (if you are single, widowed, i.e. unprotected by a marriage license).

In talking to my Guide I learned DVC allows you to change any titles for paid contracts as any other property. I think this applies to something within the family and your regular inheritance plans. You need a property lawyer in Orlando to handle the documents in Orange County. Last time I priced that it was a few hundred dollars. So you could title your DVC contracts "Revocable Trust of [insert your name]" then have full access to the contracts for use as long as you live and then for whoever you name as beneficiary of the trust when you die. Your Trustee is the person charged to carry out the trust's instructions, including paying the bills.

You'll also need to put some money in the trust to pay for it's required fees. Then you're looking at investment plans and how far you can stretch your funds to meet the expected growth in expenses.

If you're getting into the realm of estate planning, I highly recommend finding a good local lawyer. You need to think about things much more weighty than just vacation clubs when you reach your elder years. There are medical expenses, living expenses, even funeral and burial expenses. It seems grim but in my experience it saves a lot of heartache later for those you leave behind. The hardest thing to do is discern what your loved one would want when you're grieving their loss. We learned a lot from my mom's passing.

Thanks for this info! My DH and I are at the stage where we need to address these issues. Not to get OT, but the reason I am dragging my feet on a revocable trust is that any changes are $$$, and my 3 sons are no where near settled in their lives. Going to PM you Brogan....

 

[ACDSNY]

Everytime I complain we need more points my DH reminds me we have plenty if our children and extended family didn't always go too.

Our children are in their twenties, DD/SIL love Disney and any other vacations they can join us on. DS/DDIL/DGS go some of the time. DS is not the Disney nut his parents are, but DDIL loves Disney so he gets out voted sometimes.

Then there's the father, sisters, nieces and newphew...see need more GC points!

 

[podsnel]

CPA's are good at estate planning, too....not that I'm married to one and biased or anything....

 

[mvc1997]

IIRC you can put anything into a trust. You can also name anyone as trustee and anyone as beneficiary. Some folks put their assets in a trust for Fluffy the Family Cat, which has been the subject of many a comedy movie.

Look up Revocable Trust and find a local estate lawyer. A good one can draw up a plan that works best for you. Also a Living Will and Power of Attorney (if you are single, widowed, i.e. unprotected by a marriage license).

In talking to my Guide I learned DVC allows you to change any titles for paid contracts as any other property. I think this applies to something within the family and your regular inheritance plans. You need a property lawyer in Orlando to handle the documents in Orange County. Last time I priced that it was a few hundred dollars. So you could title your DVC contracts "Revocable Trust of [insert your name]" then have full access to the contracts for use as long as you live and then for whoever you name as beneficiary of the trust when you die. Your Trustee is the person charged to carry out the trust's instructions, including paying the bills.

You'll also need to put some money in the trust to pay for it's required fees. Then you're looking at investment plans and how far you can stretch your funds to meet the expected growth in expenses.

If you're getting into the realm of estate planning, I highly recommend finding a good local lawyer. You need to think about things much more weighty than just vacation clubs when you reach your elder years. There are medical expenses, living expenses, even funeral and burial expenses. It seems grim but in my experience it saves a lot of heartache later for those you leave behind. The hardest thing to do is discern what your loved one would want when you're grieving their loss. We learned a lot from my mom's passing.

Wow, Thanks for all the info. I'm printing this out so that I don't forget anything!

 

[littlestar]

Our grown kids enjoy the DVC points, as well as our Marriott timeshare visits to Orlando. They will stay at either one equally with no complaints - They actually like Marriott a little better for the overall comfort & amenities level (bed comfort, TV's, pool tables, miniature golf, rock climbing wall) but like DVC's BCV & VWL for the theming and SSR for the downtown Disney location.

I will have to show them how to use these memberships, though, because as of right now, I take care of all the dues paying, DVC bookings/banking and exchanging on the Marriott.

There is a lot to learn on how to use them/care for them.

 

[P&B's Mom]

My parents are in their 60's and just purchased DVC a few months ago with my sister and me in mind. My brother lives in Alaska and has not interest. My parents actually put my sister and I on the deed as owners! We haven't even gone on our first trip "home" yet and we are already thinking of an add-on!

 

[bobbiwoz]

My parents are in their 60's and just purchased DVC a few months ago with my sister and me in mind. My brother lives in Alaska and has not interest. My parents actually put my sister and I on the deed as owners! We haven't even gone on our first trip "home" yet and we are already thinking of an add-on!

You sound like an excellent candidate to own DVC! What a nice present your parents are giving you!

Bobbi

 

[Silver Queen]

I purchased in April and made my adult son a co-owner. Fortunately he and my DDIL love Disney so we're all set. I plan to enjoy Disney as much as I can for at least 20 more years and pay the maintenance fees until I die. We only have 160 points so I think this is do-able. I very excited because I just found out that I'm going to be a grandmother in July! Here comes the next generation of Disney lovers!

 

[bobbiwoz]

I purchased in April and made my adult son a co-owner. Fortunately he and my DDIL love Disney so we're all set. I plan to enjoy Disney as much as I can for at least 20 more years and pay the maintenance fees until I die. We only have 160 points so I think this is do-able. I very excited because I just found out that I'm going to be a grandmother in July! Here comes the next generation of Disney lovers!

Yay It may be that with the DGC comes add-on-ites?!!

Bobbi

 

[kikiq]

Before we purchased our DVC, we spoke with our DDs (20, 24). They are Disney kids from day one and didn't hesitate to say that MFs were no problems BUT just don't get too many add - ons. Then my oldest says, "Don't know what you all are worried about. Dad's mom lived until she was 94 and Grandpa is 86 and still kicking, so you two will enjoy at least 30 years of this contract. And by then we will have our babies who will be born to Disney too."

By the time we are 86, if we can be running around MK like my dad did this summer, then I won't worry about my kids wanting our DVC. BTW, if you were in MK late August, my dad was the guy with the LOUD aloha shirt, shorts and white sneakers. He went by himself.

 

[MommaX03]

I think we have stopped accumulating points, we're at 930.

Bobbi

Can you adopted me?

 

[MommaX03]

I think we have stopped accumulating points, we're at 930.

Bobbi

Can you adopted me? (Sorry for the double post. I was making myself laugh and hit the wrong button!)


Seriously, as a sandwich generation kid, I am enjoying taking my dad, who is 71, to WDW. He enjoys seeing the grandkids and loves the restaurants!
I am hopeful that the DH and I will continue to enjoy our DVC with or without the kiddies. Maybe one of them will want the DVC. It is set up so that each of them gets a slice of the mouse. So we have flexibility that way.

 

[rutgers1]

My wife and I are going to be snow birds upon retirement, spending about half of the year down in Disney. We hope to own a condo nearby and work at one of the parks or hotels. Actually, I wouldn't mind working for DVC, even if only as the guy who shuttles the prospective buyers back and forth to their resorts.....Anyway, since we will then have a condo down by Disney, we won't need our DVC as much, and we hope to use that to allow our children to come visit us. I am hoping to outlive the contract, but if not, I would love to pass it on to my kids.

 

[kimberh]

I have 3 grown children, My DD just loves going with us with her family. My middle Son, no. He can take it once it a great while. My youngest will go because it is all paid for. I don't know that he will go by hisself or with his family, when he gets one. I guess time will tell.
We love going just the two of us. It is a totally different trip. Then when we take the grands, it is a totally different trip.

My daughter says she will never buy because she will get mine.

 

[DeeCee735]

We have 19 1/2 year old twins, boy/girl. Both are interested enough to want to use the points. DD is going with her friends for the first time this March, and very much looking forward to it. My son says he hopes to have it when we are older. The kids will be 52 when our larger BW contract expires and 57 when the smaller AKV contract expires, so (hopefully) if they have children they'll be able to take them in their early years too!

 

[bobbiwoz]

Can you adopted me? (Sorry for the double post. I was making myself laugh and hit the wrong button!)


Seriously, as a sandwich generation kid, I am enjoying taking my dad, who is 71, to WDW. He enjoys seeing the grandkids and loves the restaurants!
I am hopeful that the DH and I will continue to enjoy our DVC with or without the kiddies. Maybe one of them will want the DVC. It is set up so that each of them gets a slice of the mouse. So we have flexibility that way.

I'll ignore the adoption part ...no offense, but DH just told me that he really did mention to his "people at work" that since they're all working this weekend, maybe they would like a weekend at DVC!! It's been mentioned before and yes, we just may do it, as a tag onto our June/July '10 family VB/WDW trip! I don't even know the people (yet), but he talks about them and I think it would work. I've done the math So far our guests (other than family) have been mostly "mine" I'm actually thrilled that he would want to share it too.

Bobbi

 

[photobob]

This an interesting topic. I will gauge my childrens interests as they get a little older. DS almost 22 and will get married this year. He and is fiance went with us for a five night trip to BWV and it was the first time they had gone with us since we bought DVC. They really did have a good time and were impressed with the accommodations . My daughter is 16 and loves to travel and really enjoys our WDW trips.

Currently I have just a 180 point contract. I wouldn't mind doubling that in the future to be able to handle larger groups as my children get older or sharing points for them to take trips. Having two equal contracts would be a good way to leave it to them as well.