Title changes-we just added our adult children

[CarolynFH]

I have a question if you don't mind, as you seem very knowledgeable on the issue. My husband passed away very expectedly in July and I am just now getting around to taking care of the DVC. We have 2 contracts, with 2 different membership numbers. Our daughter is on one with both of us, and just him and I on the other. I am using LT Transfers to add my daughter to the contract she wasn't on, and my mother to 1 of them, and of course handle the affidavit of death. Since I already have 2 membership numbers, do you think this will effect any of my current reservations? I could always add my mother to both as well, but I definitely wanted her on the direct contract to receive those benefits. I just really don't want to lose any reservations I have booked, whether I end up using them or not at this point is still up in the air.

I believe that since you are remaining an owner on all of these contracts, and they’re all gratuitous changes, your existing reservations are not in danger. The membership numbers and contract numbers shouldn’t change.

However, I might send an email to Member Administration via the member website, giving them all the details and asking to confirm you won’t lose existing reservations when the changes go through. Just to be sure!

 

[Mirabell Rose]

I have been asking member services as to who is entitled to DVC benefits if I move my contracts under the trust. I’ve been given member admin address to email this question. Anyone deal with this?

Thanks to the original poster. This thread was helpful to me.

 

[TheDisBrews]

I believe that since you are remaining an owner on all of these contracts, and they’re all gratuitous changes, your existing reservations are not in danger. The membership numbers and contract numbers shouldn’t change.

However, I might send an email to Member Administration via the member website, giving them all the details and asking to confirm you won’t lose existing reservations when the changes go through. Just to be sure!

Thank you - that was my thought as well, but I tend to overthink everything these days. I will send them a message!

 

[CarolynFH]

I have been asking member services as to who is entitled to DVC benefits if I move my contracts under the trust. I’ve been given member admin address to email this question. Anyone deal with this?

Thanks to the original poster. This thread was helpful to me.

You might want to start a new thread with your question. I know I've read mention in these forums from some who have their DVC memberships in a trust, but I have no personal experience, and I think it's a sufficiently different question from adding individuals to a contract that it deserves its own discussion.

 

[juliebee]

I have been asking member services as to who is entitled to DVC benefits if I move my contracts under the trust. I’ve been given member admin address to email this question. Anyone deal with this?

Thanks to the original poster. This thread was helpful to me.

Our membership is in a trust and it's only the current trustees that have benefits-- which in my case is my husband and myself. Our adult children become trustees upon the death of both of us under the way we had the trust written. Otherwise they could sell/access any of the assets of the trust prior to our deaths if they were trustees now.

 

[Mouseforward]

Our membership is in a trust and it's only the current trustees that have benefits-- which in my case is my husband and myself. Our adult children become trustees upon the death of both of us under the way we had the trust written. Otherwise they could sell/access any of the assets of the trust prior to our deaths if they were trustees now.

DVC told me that the membership would have to be retitled when the trustees changed - this plus our attorney also not wanting a timeshare in the trust made adding DVC to the trust not worthwhile. Basically it does not save any work ( related to the timeshare) or any taxes and would complicate the trust if the trustee did not want the timeshare.

 

[Mirabell Rose]

Good info. Yhanks

 

[juliebee]

I'll try to link a podcast that discusses DVC in trusts- https://***********.com/101-transfe...lanning-trusts-titles-and-multiple-contracts/

okay, it won't link, sorry.

 

[grepes]

What’s the name of the podcast so I can find it that way? Thanks for OP and everyone in the chain for helpful info!

 

[CarolynFH]

What’s the name of the podcast so I can find it that way? Thanks for OP and everyone in the chain for helpful info!

If a link is ******, it’s forbidden to be named or discussed on DISboards, a private website. This thread applies: https://www.disboards.com/threads/p...-site-you-wish-to-mention-or-discuss.3821848/

 

[Yoo]

Just a note on costs for this as I recently added my son and daughter to 4 contracts, while I was buying 2 more. I asked the broker what the cost would be to add them (via a Quit Claim Deed), and this particular broker was kind of high as this is a pretty simple deed so I reached out to MS and was told they do the full closing so the costs were pretty high as it's based on the number of points. So I reached out to another company I had used in a prior closing and had them do it. Their cost was $175 for the first contract and $75 each for the rest so a total of $400 for 4 contracts.

 

[4luv2cdisney]

Just a note on costs for this as I recently added my son and daughter to 4 contracts, while I was buying 2 more. I asked the broker what the cost would be to add them (via a Quit Claim Deed), and this particular broker was kind of high as this is a pretty simple deed so I reached out to MS and was told they do the full closing so the costs were pretty high as it's based on the number of points. So I reached out to another company I had used in a prior closing and had them do it. Their cost was $175 for the first contract and $75 each for the rest so a total of $400 for 4 contracts.

Can you share the company you used? That is the most reasonable price I’ve seen. I keep saying I’m going to do it myself, but never do. I only have 2 contracts. $250 seems worth it!

 

[Yoo]

I reached out to them and their response is below. Besides this work, they have also closed 4 contracts for me and their costs for closings are just as reasonable. Melissa was awesome!

Yes, please feel free to share my contact information with other Disney owners. We appreciate that you thought of our office when adding your children to your contracts. You may provide my contact information: Melissa O’Connor, Paralegal to: Jeffrey C. Sweet, Attorney at Law, email: melissa.chapman@jsweetlaw.com (email is the preferred contact method) or I can be reached by telephone at 386-677-3431 ext 247

Thank you. Have a great day.

 

[Yoo]

Another tip, in a previous post, someone mentioned they had to pay for getting documents notarized. I went to our city administration building and they had notaries that did it for free. The Quit Claim deeds need two witnesses so they just grabbed a couple of co-workers to sign. I live in a small midwestern town so maybe that's just how things work here! lol

 

[mickeymom629]

For our contract, we had it put into the trust when we initially purchased it. Our deed is recorded as: (husband's name) and (my name), trustees of The (last name) Trust dated (date trust was established).
Then upon the passing of both my husband and I, the trustees become our children, but not until we both pass.
I believe your contract has to be retitled into your trust's name if you didn't do that.

Thanks for this - my attorney finally got back to me. DVC is already mentioned in our trust and we have designated a DS to use our membership for the benefit of the family (other siblings) upon our passing. However, we didn't update our DVC deed, which I guess is what we need to do now, according to my attorney. Looking at your other responses in this thread, you and your husband have been able to use the DVC membership with benefits "normally" even though the deed has the name of the trust rather than just your names (the way mine is now), correct?

 

[juliebee]

Thanks for this - my attorney finally got back to me. DVC is already mentioned in our trust and we have designated a DS to use our membership for the benefit of the family (other siblings) upon our passing. However, we didn't update our DVC deed, which I guess is what we need to do now, according to my attorney. Looking at your other responses in this thread, you and your husband have been able to use the DVC membership with benefits "normally" even though the deed has the name of the trust rather than just your names (the way mine is now), correct?

Yes, our membership sign-ins just have our full name just like anyone else. When I look at my online account, I don't even see the word "trust" anywhere.

 

[Sheree]

I reached out to them and their response is below. Besides this work, they have also closed 4 contracts for me and their costs for closings are just as reasonable. Melissa was awesome!

Yes, please feel free to share my contact information with other Disney owners. We appreciate that you thought of our office when adding your children to your contracts. You may provide my contact information: Melissa O’Connor, Paralegal to: Jeffrey C. Sweet, Attorney at Law, email: melissa.chapman@jsweetlaw.com (email is the preferred contact method) or I can be reached by telephone at 386-677-3431 ext 247

Thank you. Have a great day.

Thank you
I've been putting this off too!

if my son is on our contracts he'll also be grandfathered in for benefits and be able to get the discounted ap? we bought resale in 1995 so still get the blue card

 

[Sandisw]

Thank you
I've been putting this off too!

if my son is on our contracts he'll also be grandfathered in for benefits and be able to get the discounted ap? we bought resale in 1995 so still get the blue card

Correct.

 

[sethschroeder]

Not sure I could put kids on it until much later and then I would likely do a trust or something.