We just had a baby... what to do with DVC

[jjwelch24]

We put our deed into a trust so we wouldn't need to transfer it or worry about our kids.

 

[ScubaCat]

We put our deed into a trust so we wouldn't need to transfer it or worry about our kids.

That's the best way, because it'll save them the hassle of probate court in Florida.

I would have done the same except wife & I have separate trusts (set up before we got together) and we'd have to combine them or just live with one membership card.

 

[DanCio]

No expert at all, but how would the ex spouse now own the DVC"? At worse wouldn't he/she only own one part (in our case 1/8)?

In Florida, real property is jointly owned even if you don't put a spouse on a deed. Not sure how this would work for an out of state resident though.

 

[crisi]

My experience with my kid is that he’s 14 and hasn’t wanted to go to a WDW park since January 2015. And isn’t going with me (partially out of choice and partially bc of his dance schedule) this month, either. Kids are tricky little things!

Mine is 20 and just starting to get interested in maybe a grown up trip - he stopped going when he was around 14. My 19 year old daughter still enjoys it - but is so busy and has so many other travel priorities that I don't know if there is another trip or not in our near future.

And kids ARE tricky little things. They exceed your expectations, and disappoint you. As babies, you have no idea if your kids will end up at the top of their class, or drop out of high school to take off with their boyfriend who is in a band. Heck, as several of my friends with young adults have discovered - as babies you really aren't sure if you have boys or girls or neither - and won't be for a long time.

 

[mustinjourney]

No expert at all, but how would the ex spouse now own the DVC"? At worse wouldn't he/she only own one part (in our case 1/8)?

future divorce of the child "shouldn't" cause an issue.

The asset would likely be considered separate property, and therefore, would not be part of the marital estate to be split upon divorce. This would likely be considered a gift or inheritance.

• Property acquired by noninterspousal gift or inheritance. Continuing with the example of Jesus and Juana, suppose that Jesus’ brother gives him a Cadillac while Jesus is married to Juana. Or suppose that the Cadillac belonged to Jesus’ grandfather, who then gifts the Cadillac to Jesus as part of the grandfather’s will. In these situations, the court is likely to treat the property as Jesus’ separate property.

https://www.myfloridalaw.com/asset-debts/marital-property-vs-non-marital-property-florida/

The only thing that could be argued is an accounting for maintenance fees paid during the marriage, but I doubt that would be effective.

 

[NickBCV]

We just had a baby.... well two actually.... twins!!!! Is there anything I should do for them in regards to our overall membership. I applied to make them associate members but it looks like that won't give them much. Is there anything else I should do or is that really it?

Thanks.

I wouldn’t do anything just yet. Give it some time and see if you still have it when they get a little older.