When your kids don't want them?

[Pit Senior Member Find all posts View Profile Close Pit]

I'm happy with the weeks I own, but when the time comes, what if my kids prefer not to inherit these inexpensive resale weeks? If I will them to my kids, can they refuse them or are they stuck with them? Can I will them back to their respective HOAs rather than my kids? Put them in a seperate LLC or trust?

[RedMan Senior Member Find all posts View Profile Close RedMan]

I'm happy with the weeks I own, but when the time comes, what if my kids prefer not to inherit these inexpensive resale weeks? If I will them to my kids, can they refuse them or are they stuck with them? Can I will them back to their respective HOAs rather than my kids? Put them in a seperate LLC or trust?

This is a great question. This topic may have been discussed before but I don't remember it.

I would think that even if you "will" a TS to your kids they wouldn't be stuck with it unless they choose to. I wouldn't think anyone would be forced into an expense like this by "will". It seems that it would be the similar to "willing" a credit card (along with the expense) to your children.

I would love to know the answer to the second part of your question!

[JoAnn Senior Member Find all posts View Profile Close JoAnn]

We have ours in our Trust & will and the kids have been told to do with them what they like. If they sell them that is money they didn't have before...even if they just get a small amount.

[ebram Senior Member Find all posts View Profile Close ebram]

A trust is agood idea. Then if the kids don't want them the HOA can do go after the trust for the MFs.

[RedMan Senior Member Find all posts View Profile Close RedMan]

A trust is agood idea. Then if the kids don't want them the HOA can do go after the trust for the MFs.

I’m not sure why this would be a good thing. I’m assuming this is a facetious statement or am I missing something?

[1950bing Senior Member Find all posts View Profile Close 1950bing]

This ties in well with the post, " Should I put adult children on deed "
Make sure they understand everything or you could stick them with something they may not want or use. I would not want to stick my kids with something that they would have a very hard time getting rid of and having to pay all the fees all along.

[Pit Senior Member Find all posts View Profile Close Pit]

This ties in well with the post, " Should I put adult children on deed "
Make sure they understand everything or you could stick them with something they may not want or use. I would not want to stick my kids with something that they would have a very hard time getting rid of and having to pay all the fees all along.

That's my concern too. If I know that they do not want some of my weeks, what is the best way to deal with those weeks? I don't want to sell them, because I use them. But, I don't want to dump them on my kids in the event something happens to me. Then, they have to hassle with getting rid of them.

I would like to just will them back to the HOA, but is the HOA obligated to take them? If I put them in a trust, the HOA would have to go through foreclosure. Seems like it would make more sense to just will the weeks back to the HOA.

Is the solution to put them in a trust and will them to the HOA. Then the HOA has no real choice. They either accept the week back (for free), or waste time/money suing a worthless entity. Or, to get the last laugh, can I put them in a trust and will them back to the developer.

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

My son wants my timeshares and my house! Has offered to sit and learn how I pull off the trades.

Hoping he hasn't been lacing my food with arsenic.

Very good question. Who would want to be stuck with something they have no idea or desire on how to use?

[PigsDad Senior Member Find all posts View Profile Close PigsDad]

Another thought that no one has mentioned yet that we should think about when planning on passing timeshares to heirs: How old will those timeshares be when we pass?

Will our children really want a 30, 40, 50 year old timeshare, and the issues that will plague older timeshares? Or, instead, should we teach them how to purchase resale and let them decide what would work best for them?

Kurt

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

I think this is a question best addressed by a probate attorny who practices in your home state. Laws vary to some degree from state to state.

In general, I do not think someone can be forced to inherit something they do not want but, I'm not certain that they can pick and choose from an estate what they will accept and what they won't accept. I don't think you'll find a definitive answer by asking this question on an internet forum and I darn sure wouldn't take it to the bank.

[ebram Senior Member Find all posts View Profile Close ebram]

Redman:
a trust will remove liabllity from the estate if nobody wants the TS and the estate doesn't have the expence of a PCC to deal with.

[RedMan Senior Member Find all posts View Profile Close RedMan]

Redman:
a trust will remove liabllity from the estate if nobody wants the TS and the estate doesn't have the expence of a PCC to deal with.

Well then this would seem to be the best answer to the OP's question.

[Ediesbeads Member Find all posts View Profile Close Ediesbeads]

It's a hassle, but could the kids give it to someone else? Not even sell, but give? I'd take a freebie in a heart beat and be happy to pay the mf.

Edie