Setup Trust for DVC

[sethschroeder]

Has anyone setup a trust before for DVC? I was thinking about doing this for my parents so I could get them access to the AP discounts without putting the contract directly with all their assets.

Not looking for legal advice just ideas if this might be plausible to investigate or maybe how others have done it?

 

[RoseGold]

If I were buying direct, I would buy as an LLC established in my state. Within DVC, your corporation can make officers blue card members, but also the "board." Maybe your corporation has a deep, knowledgable board...

This is something to pitch to your estate lawyer in your state. It will depend on the costs to carry these structures and also how hard it is to change ownership interests or eliminate the structure altogether if you don't need it anymore.

Edit to add: I already have a few corporations, so adding another structure to hold DVC wouldn't phase me at all.

 

[Dean]

Has anyone setup a trust before for DVC? I was thinking about doing this for my parents so I could get them access to the AP discounts without putting the contract directly with all their assets.

Not looking for legal advice just ideas if this might be plausible to investigate or maybe how others have done it?

We own multiple Marriott weeks in addition to Bluegreen and DVC points and I just had this very conversation formally with my estate lawyer. Our DVC and BG points are squared away from a legacy standpoint but the Marriott's are not so my question was related to putting our 18 Marriott weeks in a trust. To summarize his thoughts as I understand them (I reviewed the emails), he did think it reasonable vs just changing all the deeds. Cost to change our will and for the trust $4500-6000 plus an addendum filed in each state acknowledging the trust. To change the deed would be another roughly $3600 so maybe $10K total in our situation. He did warn against putting our home in the trust as it removed some of the homestead protections. We've decide we're going to delay but unless new information comes along or there are legal changes that affect these decisions we'll just change the deeds and list the kids in a few years. That way we'll avoid probate on those and avoid some of the expenses (setup and ongoing) and aggravations of a trust. There were also some nuances within Marriott and using the weeks that were negative as well. I'm not going to pull the trigger until I'm certain I can leave sufficient assets so this will be a blessing and not a curse.

If the pass discounts are the main issue I think there are other ways that make more sense but they are not without pitfalls as well.