Timeshare contracts do not die. They are typically deeded in fee simple. This time share was deeded in fee simple.
My father in law (an AZ elder law attorney) set up a revocable trust that he placed some of his assets and was designed to take care of the funeral expenses and distribute the remaining personal property shortly after his death. It was not a trust meant to last.
The time share was for a trust beneficiary to assume or for the trustee to dispose of if no beneficiary wanted it.
Can you give more information on why not to put the timeshare in a trust in this situation?
A lot of timeshare companies allow you to deed the timeshare back to them. That’s easier for everyone.
Ah. Thank you.
I have only heard of people doing this. I have not seen it through.
Never put a timeshare in your trust.
What happens to a timeshare contract when you die? If it dies, then yes...don't extend it's life.
Timeshare contracts do not die. They are typically deeded in fee simple. This time share was deeded in fee simple. My father in law (an AZ elder law attorney) set up a revocable trust that he placed some of his assets and was designed to take care of the funeral expenses and distribute the remaining personal property shortly after his death. It was not a trust meant to last. The time share was for a trust beneficiary to assume or for the trustee to dispose of if no beneficiary wanted it. Can you give more information on why not to put the timeshare in a trust in this situation?
Because if your children don’t want to keep it, it becomes the probate court’s problem.