married- go w individual or joint contract?

[alohatok1986]

I'm married with 3 young kids. About to head into my second attempt at resale, and am wondering what the pros and cons are of putting a spouse on a contract. My husband surprised me first round by asking (nicely) why I put him on it since it's *my thing*. Got me thinking!
Edit: We did not get through first round & are not owners yet!

 

[wdwdaddy4life]

I'm married with 3 young kids. About to head into my second attempt at resale, and am wondering what the pros and cons are of putting a spouse on a contract. My husband surprised me first round by asking (nicely) why I put him on it since it's *my thing*. Got me thinking!

Depends on "IF" you want him to know what contracts you are buying...

 

[sethschroeder]

Different name means different membership and using points together will be a pain.

So unless you want to update your other contract keep it the same.

 

[alohatok1986]

Different name means different membership and using points together will be a pain.

So unless you want to update your other contract keep it the same.

we didn't get through the first round so I don't have any contracts yet...

 

[hglenn]

It's my understanding that the names on the deed determine the people who are actually members. So if you are the only one listed, your spouse is not a member but just a guest of yours. Probably not a big deal most of the time, however, if your spouse is wanting to use the discount or enter into a DVC lounge without you, I don't think it'll be permissible. I hope someone will fact-check me on this. And, I'm no atty, but having just recently gone through setting up a will/trust, it's worth it to consider what that looks like if/when the time comes and you still own the contract... (not to take this the wrong direction but something to think about....?)

 

[wnielsen1]

1. I know he may not care, but are you using marital assets to purchase?
2. Think about if something happens to you, then he doesn't have access to the contract while he deals with probate, etc.
3. As stated above, he is on the first contract so keep him on this one too so you don't need to deal with a second membership.

Everyone is different, but I think he should be on the contract unless there are very good reasons to exclude him.

 

[alohatok1986]

It's my understanding that the names on the deed determine the people who are actually members. So if you are the only one listed, your spouse is not a member but just a guest of yours. Probably not a big deal most of the time, however, if your spouse is wanting to use the discount or enter into a DVC lounge without you, I don't think it'll be permissible. I hope someone will fact-check me on this. And, I'm no atty, but having just recently gone through setting up a will/trust, it's worth it to consider what that looks like if/when the time comes and you still own the contract... (not to take this the wrong direction but something to think about....?)

1. No
2. Wouldn't it just go to our children then?
3. Our first attempt was taken in rofr so we are not owners yet...
edit: sorry meant to reply to @wnielsen1 !

 

[alohatok1986]

It's my understanding that the names on the deed determine the people who are actually members. So if you are the only one listed, your spouse is not a member but just a guest of yours. Probably not a big deal most of the time, however, if your spouse is wanting to use the discount or enter into a DVC lounge without you, I don't think it'll be permissible. I hope someone will fact-check me on this. And, I'm no atty, but having just recently gone through setting up a will/trust, it's worth it to consider what that looks like if/when the time comes and you still own the contract... (not to take this the wrong direction but something to think about....?)

We're AP & FL residents so the discounts have never been an incentive but I didn't know that about the lounges, thank you

 

[hglenn]

2. Wouldn't it just go to our children then?

No, it'll be your spouse's property but attorney fees and costs will be involved...

 

[LYSE]

You have your answer, unless you plan to divorce its more of a pain to only have one person on title..only one of you will be a member...that means all the benefits are yours only and if there are special events spouse will take a guest slot up.

Also the welcome home effect when tapping into a park will only work for you LOL

 

[alohatok1986]

Also the welcome home effect when tapping into a park will only work for you LOL

I mean.... I would like to hog that flex!

 

[wnielsen1]

We're AP & FL residents so the discounts have never been an incentive but I didn't know that about the lounges, thank you

It's really a conversation for you and your husband to have on titling the contract. I personally do not like to hold long term assets in only one name. As far as the benefits go, you are buying resale so there will be no discounts or perks anyway. The only way that changes is if you decide to add-on enough direct points later to get those benefits. At that point you will want everything titled the same and only those people on the deed qualify for membership extras.

 

[varyth]

I'm probably an outlier. We are married with no children (and no plans), and Disney is purely "my thing". My husband will never go to the parks without me and did not financially contribute to the purchase. I treated it like any other real estate property in this case and went on the deed as an individual.

 

[DduzDis]

I went joint so DW has sign contracts. Otherwise we would already be in the 1000+ point club.

 

[Royal Consort]

I'm probably an outlier. We are married with no children (and no plans), and Disney is purely "my thing". My husband will never go to the parks without me and did not financially contribute to the purchase. I treated it like any other real estate property in this case and went on the deed as an individual.

My husband and I both bought DVC equally contributing to the contract and therefore its in both names. During the pandemic I bought three resale contracts. Since I used my money to purchase them only my name is on the contract. These are separate UY from the marital contract. I don't plan to ever separate but I have been divorced once before. I like my assets to assuredly be mine.

 

[RoseGold]

I bought several contracts as an an individual because I plan to sell, and it will be less hassle.

 

[theMoreDisneytheBetter]

My mom added me to all of her contracts and we bought VGF together. The 2 I plan to buy (that will eventually be for my kids) will be with her as well instead of DH even though all of our money is co-mingled.

 

[CaptainAmerica]

The divorce rate for couples with combined financial assets is substantially lower than that of couples who keep separate finances.

 

[RoseGold]

The divorce rate for couples with combined financial assets is substantially lower than that of couples who keep separate finances.

LOL. Now try that with people who can afford unnecessary five figure luxury purchases. There are a lot of reasons wealthy people can have complicated legal setups and financial situations.

 

[CaptainAmerica]

LOL. Now try that with people who can afford unnecessary five figure luxury purchases. There are a lot of reasons wealthy people can have complicated legal setups and financial situations.

I made a statement of fact.