Kids, Grandkids

[maggieb9975]

Hi all, I am looking into DVC and am very new to all this. As I am 52 and DH is 61 I am looking at the longterm, Can I pass the DVC ownership on to my kids as part of my estate?

 

[RobDoc]

Yes, your DVC ownership may be willed to your heirs. It is definitley part of your estate until the expiration date.

 

[maggieb9975]

Thankyou! I have stuff coming in the mail from Disney and The Timeshare Store....

 

[Grandbuddy]

Hi all, I am looking into DVC and am very new to all this. As I am 52 and DH is 61 I am looking at the longterm, Can I pass the DVC ownership on to my kids as part of my estate?

And after lots of discussions on this board and otherwise, I am about to make an offer on a resale, representing about half the amount of points I want to end up with. The reason I am doing this is that we have two sons, and I do not want to leave them a contract they have to share, because of the potential for conflict. If I buy one large contract, it cannot later be split up for estate purposes. If I buy two contracts with the same resort, and same use year, each contract can be left to an individual son - and I think everyone will be more content, in the long run.

 

[tomandrobin]

Thankyou! I have stuff coming in the mail from Disney and The Timeshare Store....

Love you signature!!!

You need a smiley that's pulling thier hair out!

DVC can be passed on to other family members. But if you want it to go to multiple people, you need multiple contracts. For example, you can not take a large 300 point contract and break it into three 100 point contracts, you need to buy three 100 point contracts to do that.

 

[lmb]

Could you leave it to more than one child with the understanding between the two of them that they'd be responsible for maintenance fees and use of points every other year?

 

[Grandbuddy]

Could you leave it to more than one child with the understanding between the two of them that they'd be responsible for maintenance fees and use of points every other year?

You would have a much better idea of the potential for that kind of cooperation between your children than any of us would. What happens though, if one is not responsible about paying his/her fair share, yet wants all the benefits? What if one gets into a financial bind and his/her share becomes subject to a lien? Or if one insists the membership be sold, and the profits split, while the other wants to keep it? These are the kinds of issues I don't want to leave my children facing - even though I would be dead and wouldn't know about it.

 

[maggieb9975]

Wow...thanks for bringing that up about separate contracts...that makes so much sense! Something else to mull over.

I have info coming in the mail and I will take a tour when I go on my trip in October. I am going to try and rent some points for my trip. I have to post a thread again as I was told I didn't do it right So I am going to read the rules again and try again.