|Damn, those timeshares…
While residing in New York, my husband (deceased) and I purchased a timeshare in 1995 which our two children (domiciled in PA) do not want to own after my death. This Vermont family resort has a limited, lottery-styled deed-back program which doesn’t include our older, original unit/building and likely never will. Is it possible to structure an estate plan that assures my heirs won’t get saddled with this liability? Thank you.
These timeshares can be such a pain in the $%^!
Perhaps the best thing to do is to have a provision in your will that leaves the timeshare unit to your worst enemy or to the timeshare company itself. If your children do not want it, then never have it end up in their names.
OR do everything in your power to get rid of it before you die. There are companies out there that will help you get out of them for a fee. It may be worth it!
OR just stop paying the maintenance charges and perhaps they will take it off your hands.
I am not sure what to really tell you. All I know is that my father left me one in Cancun and I am in the same boat as you.😊 For now I am enjoying it. Perhaps one or more of my children will enjoy it too. Perhaps this is just wishful thinking.
The only clients of mine that have been happy with their timeshares are timeshares from Disney and Marriott.