"OLD" People Ever Buy?

[B and B]

We are an older couple in mid 50's with two grown children,(ages 27 and 30), who both have young kids. We want to know if the DVC memberships can be in two names like one of ours and one of the kids, since in all reality we will not be going to Dis til 2042 Are there any folks out there with advice for us oldies but goodies, and how to make this work?

Thanks in advance, as always,
B and B

 

[RobDoc]

Watch who you're calling "older"! Sounds like you're in about the same boat as us! Our children are about the same age and so are we!

We joined in '93 and have really enjoyed the ride thus far. Yes, you can have joint ownership, but the membership may also be passed along in a will or given to your children at some point in the future. There are several possible ways to handle these details. DVC van help advise and create the means which will work best for you.

Enjoy!

 

[B and B]

inkbounc

That is good news, but who advises if one buys a resale? I don't guess the Disney DVC people will advise if we don't purchase from them.

B and B

 

[RobDoc]

If you are buying a resale you will have to deal with a resale broker.

<a href="http://www.dvc-resales.com/">The Timeshare Store</a> is the sponsor of this site and can assist you with ownership details. You may also want to contact DVC yourself (1-800-800-9100) and discuss general concepts with them for what you wish to do.

Another broker is <a href="http://www.atimeshare.com">ATimeshare.com</a>.

Enjoy!

 

[Gail Reale]

Hey BandB, watch who you're calling "old"!!!! We bought in '95 when we were both 52 and our kids were in their late teens. They have enjoyed many a vacation with us, and now, 6 years later the grandchildren are tagging along. We made sure that our DVC was in the will, so the kids can enjoy it after we are "gone" (although our spirit will always be at OKW!!). Don't hesitate to buy - we are not "old", we are "seasoned"

 

[GAIL HAYDEN]

Right on Gail. I am not older, I am better.

 

[Dave M]

We are currently in our 60's and bought in 92. The grown kids and their families have gone to OKW with us twice. When we are gone they will have the time to go many times. They have asked that we set something up for them so they can enjoy WDW and won't have to fight over the points.

 

[drusba]

You can buy by having your and a kid's name on the contract and deed. You can also buy with ownership in your name and then name one or more of the kids as an "associate member" which would give them the right to make reservations but no ownership rights.

Your question raises more an issue of estate planning that you should discuss with a lawyer rather than something you should rely on DVD to give advice (DVD would simply tell you the same thing that I said above about how the transaction can be structured). There are potential issues that need to be considered before deciding to make one of the kids a joint owner. Those include tax issues (who takes the deductions?) and the I-prefer-not-to-think-about-them issues (adding child to ownership could later lead to problems--for example that child's spouse could have a legal interest in the property and if they divorce you could find the property being subjected to the divorce proceedings and possible forced sale). In other words, legal advice should be sought before deciding to add a married child to the deed.

As for age, we bought just a couple of years before the now 3 and 2 year old grandkids showed up.

 

[Joe T.]

We bought in 1995 in partnership with our daughter. She was just completing her Naval service, and was interested in some the special trips that are available. All three names are on the contract. We had to name one of us as principal owner. Of course, we named her because she would be around until the end. We were in our early sixties at the time. We have added points twice with no problems even though she lives in MN. As a side, her priorities have changed - married with two babies. I think the exotic rafting trips may take a back seat for a time. We had our first family trip to WDW this summer. Her youngest was just two months old. Up to this point , my DW and I have used most of the points for other family and friends. When the children are a little older I am sure she will be the prime user. It has been a very rewarding experience.

 

[Disney Duo]

Go for It!! We are right there with you in age(maybe even a little older). We just bought a resale in January. We like to go a couple of times, spring and Dec. by ourselves and then take one of our kids and grandchildren in the summer. We have two children and five grandchildren, so we probably need to buy more points!!! Our children love Disney as much as we do, so they thought the idea was great!! Just do it and enjoy....no matter what your age!

 

[chainkid]

I think that you will find that no old people buy DVC because only people who are young at heart feel the disney magic enough to want to return year after year. I'm a kid of 51 and my husband is 52. We bought in 1999 and have a son who is 23. He might get to use my points on occasion but I plan to still be in the front row of Rockin Roller Coaster at 91. So if you are young at heart 2042 is not long enough. LOL Joan

 

[scootert]

Old?? Who's old?? DH (in the mid 50's) and I (in the latest of 40's that you can get!!) decided to give ourselves DVC as a present to celebrate getting everyone through college this year. When the time comes, we can pass it along to the kids -- for now -- WDW here we come!!!

 

[dianeschlicht]

We are 55 and 54 with grown "kids" who are 26 and 32. They come with us occationally, as do lots of other friends and family, but we couldn't get along without our Disney fix once or twice a year! We bought this for us and plan to leave it to the "kids". Now I just wish one of them would get married and give us some grandchildren to enjoy before we do get "old"!

 

[Disney Doll]

We bought directlyt fron Disney(not a resale) and they told us it is completely willable.

 

[OKW91]

We bought in 91, we were both 51 at the time, we think it was a great investment, now our grandchilren have made 2 trips with there parents. I don't think you are ever to old to buy into the DVC, you can just pass it on to your children!!

 

[fkj2]

I'm with chainkid; I intend to be riding Space Mountain until I'm 83 and after that we'll see. Of course, that only leaves 4 more years on the contract so I won't miss much if I can't.

 

[Jeanne]

As soon as my parents (both in their 60's) found out that we had bought a membership, they also bought one. We have gone several times together, they have taken my adult brother, and gone several times on their own. They particularly like the special interest months that seem more adult focused. they have gone during the Epcot garden month in May, and taken special tours, and there is also the wine tasting in Epcot in the Fall. The DVC membership is the only item in the will that might get fought over someday in the future.

 

[BobH]

We put our two kids on deed. The only question was their age. I believe I was told by myDVC guide that they had to be at least 18 years old to comply with Florida Law. You should figure how it fits into your estate plans however. We did not consider future spouses of our kids and the impact on our ownership in the unhappy event of a divorce etc.

 

[wdwendyd]

Jeanne-
That is so sweet that your parents bought so that you could vacation together sometimes. I wish MY parents would do that! Oh, well. At least my kids' parents bought!!!

 

[TwirlerGirl]

When we purchase our DVC membership in 1997, I was depressed, 49 yo and just lost my job. The company I worked for was installing a new LAN system I was not trained on. So out with the old and in with the new. Owning a piece of the magic brighten my life. I starting planning extended family vacations although my two boys were living on their own and were not married at the time. DH was trilled to have a second honeymoon and many glamorous vacations we would never have taken without DVC. Five years of planning will finally be realized in Sept. 2002. We are taking our first family vacation with the grandchildren. The parents are sneaking off in the middle of the week for their own private mini vacation and leaving the grandkids with us at WDW. The grandbabies will be 4 and 2 at that time. A grandparent's dream come true.

Our youngest DS is a real Disney fan and not to be out done, I promised him a Disney honeymoon when the time comes or location of his choice we can trade for. He has already enjoyed one WDW mini vacation on us. His girlfriend was eyeing the info on Disney Weddings. Maybe the families will be celebrating a special event in 2002?

We will never be to old to enjoy WDW and share the magic with our family. When the time comes, we have willed the remaining DVC time to the boys to be shared equally or sold as they see fit. It is our hope we will give them a lifetime of happy memories with this gift.


Sandy B.