Living Trusts and DVC

[lorie13]

We are setting up our living trust and since DVC is considered real estate I believe our DVC contracts should be added to the trust.

Has anyone done changes to their deeds to reflect the name of their trust?

We are in California and have no clue who to contact to do this. Any thoughts would be appreciated.

Thanks

 

[Jkpark]

I'm in AZ but I did this. I had to send in a copy I the trust and my attorney had to write a letter. DVC seemed to do this all the time. Give them a call.

 

[lorie13]

Thanks, I was thinking about calling, wanted to make sure I knew how to pose the correct question to MS, but if they are familiar with it, then anyone over there should know how to direct us.

I'm in AZ but I did this. I had to send in a copy I the trust and my attorney had to write a letter. DVC seemed to do this all the time. Give them a call.

 

[RobDoc]

We just created a revocable living trust in November. Contact DVC Member Administration and they will provide the necessary form to send in for ROFR (this is a formality only as it is a gratuitous transfer).

Once you have received the waiver, you then need to have the new deed recorded in each state where you own DVC property. We own at OKW and HH and had to deal with the county in each state. We signed quit claim deeds and then proceeded to have the new deeds recorded.

Thanks to a suggestion from Dean, we used LT Transfers - http://www.lttransfers.com/ , (AKA, LegalTimeshareTransfers) an attorney's office in Cleveland, GA - who promptly, efficiently and reasonably handled all or our contracts (we have 3 memberships - one with 6 add-ons which each had to be separately recorded) to create new deeds showing the Trust as the owner of the property. To my knowledge, they can assist with deed transfers in every state.

Our attorney who drew up the Trust was very impressed with LT Transfers as were we.

 

[montrealdisneylovers]

Who is considered members of DVC with these trusts? Who is eligible for the specific discounts as they pertain to DVC?

 

[RobDoc]

Who is considered members of DVC with these trusts? Who is eligible for the specific discounts as they pertain to DVC?

The Trustee(s) of the Trust are the eligible members. In our case, the deeds were originally in the name of DW and myself and our Trust is titled the same way. Per the Trust document, when we are either deceased or no longer capable to manage the Trust, our daughters will become Trustees and therefore eligible members.

 

[Sur]

Wow, awesome information.... I'll be filing this away for future use.

 

[SamSam]

The Trustee(s) of the Trust are the eligible members. In our case, the deeds were originally in the name of DW and myself and our Trust is titled the same way. Per the Trust document, when we are either deceased or no longer capable to manage the Trust, our daughters will become Trustees and therefore eligible members.

This is how ours are too. Any property we buy now is in the trust name, so no changes will be necessary.

 

[lorie13]

Thank you for the information concerning DVC and placing the deeds in the trust.

While it may be difficult to discuss the end of your life, and make decision now, especially a heath directive. It is a prudent decision to have a living trust for your children and loved ones. They will know exactly what you wishes are and it will avoid probate which is lengthy and costly for your heirs.