I only said what I did. TUG has advised people how to buy, sell, give away, reject ts since the site was created. You seem overly emotionally invested in this thread. No one here is going to consult you on what to do. You carry no more weight than anyone else posting.
14 weeks on Sanibel definitely have value. Which resort?
I assume you are a California resident owning Westin Desert Willow. If not, it doesn't matter that Westin would be okay with your heirs taking over. The problem is that an out-of-state executor cannot convey title to a California timeshare unless there is a California probate proceeding.
Just FYI - yes, assets are placed in trust to avoid probate. By keeping crap assets like timeshare out of the trust, you only burden the executor of the estate (if he or she wants to comply with his or her legal obligations) as well as you burden the fellow owners of the crap timeshare because unpaid MFs are allocated back to your fellow owners as unpaid debt, that increases the MFs. Note, it isn't (hopefully) the beneficiaries of the trust who die. It is the grantors of the trust (ie the ones who set it up to hold their assets) who die and then the trust designates the beneficiaries of the assets. You might also want to note that trusts don't die when the grantor dies, unless the wording of the trust requires a distribution of assets. Trusts are basically contracts you create with yourself to detail how you want your assets to be handled post mortem. Anyway, not sure why you believe that "their assets are in a trust which effectively impoverished them." Simply because someone has a trust, it doesn't mean that their debts are not paid upon their death. Credit card debts, medical expenses, household utilities, taxes, etc. Those all get paid by the executor/successor trustee. When someone dies, their representative also prepares and files tax returns and pays the costs related to death. Whatever that may be. Cemetery, crematorium, etc. The grantor isn't buried in a pauper plot. Absolutely, each state has its own laws regarding estates and what is required to be probated. And, yes, if the executor of the estate abandons the crap timeshare, as I indicated in one of my comments, then AFTER the statutory timeframe, the HOA will have no choice but to commence legal proceedings to foreclose upon the ownership interest that has failed to pay the MFs for the requisite statutory time frame. All the while, the cost of the unpaid MFs and the cost of any and all legal proceedings are borne by the remaining owners of that crap timeshare in the form of increased MFs. WHY would you want to screw your fellow owners like that? What decent human being gets a thrill out of screwing their fellow owners? And the reason why a foreclosure is needed is because, as I have said, all real property ownership can only pass by recorded deed. It needs to be signed by the seller/owner. The seller/owner must be (a) alive and (b) competent to sign. The exception to that is when (1) the owner is dead and the executor of an estate obtains a probate court order authorizing the transfer of ownership from the deceased to the new owner; (2) the owner is incompetent and a durable power of attorney exists with the right to legally convey real property ownership; or (3) a foreclosure is completed, which results in a court order authorizing the legal transfer of ownership based upon those proceedings.
Just FYI - if you have set up the trust but never legally transferred ownership of titled assets to the trust, then the trust doesn't own them and those assets will pass via will or intestate if you do not have a will.
Thanks for making me laugh! Folks who rely upon crap like that only screw themselves, their heirs and their fellow owners.
Wilma - I have been helping my fellow owners for the last eight years understand about trusts and how they work. I abhor misinformation and horrible legal advice doled out by folks here who have no understanding of how real property law works. My only goal is to help my fellow owners understand the process. I do that regularly with my writings on the topic of MVC ownership. Folks who have no legal education or understanding of real property law shouldn't be giving advice. Real property law is NOT an opinion.
The point which you are missing is that timeshares that are kept out of the trust do not get passed on, unless an action is taken, like undergoing probate. Because timeshare is not passed on "automatically", the HOA has no option but to take it back. This is good advice for owners who do not want to burden their heirs on what to do with the timeshare. If you want your heirs to inherit the timeshare, then by all means, put them into the trust.
I presume this is a post from Leslie Detwiler
That is such poor advice. When the crap timeshares are in a trust, the successor trustee can sell or otherwise dispose of the ownership without any court intervention. You don't burden your fellow owners with your debt. The successor trustee can execute a deed to transfer the ownership to the HOA, saving all owners the time and expense of a foreclosure proceeding. That is the reason why trusts are important. Legal acts can be done right away. And, NO, your heirs are not burdened by unwanted timeshares. No beneficiary is mandated to accept a trust distribution of assets. Why do you keep perpetuating that myth? That is simply not how the law works.
You are going far away from estate planning for timeshare owners if you are going to start talking about Medicare look back periods for fraudulent transfers, etc. What you are also missing is that when folks set up trusts to avoid paying healthcare costs or long term living costs they are not setting up a revocable living trust. That is an asset of the grantor. You are also misinformed about the process upon death of a grantor of a revocable living trust Bill. Discovery doesn't commence. A fraudulent conveyance action isn't started. Rather, the burdened HOA and fellow owners must wait the statutory period to proceed with a foreclosure action in order to recover title to the timeshare. That may be 5 years. It could be longer. Why do you want to burden your HOA like that? If that is your goal, then give the timeshare away before you die for goodness sake. And just a note, your approach completely ignores the fiduciary duties of your estate representative, whether an executor or a successor trustee. Debts of the decedent must be paid prior to distribution of the trust assets. Failure to do so is a breach of fiduciary duty. But again, that is a long ways away from the concept of estate planning for timeshare owners.
Poor vs. good advice is dependent on each situation. They both work.
What you are missing is that when you purposefully leave your timeshares outside of your trust, even if you have absolutely nothing else (which is doubtful), your executor is legally obligated to probate real estate. But that is again getting away from general estate planning advice for timeshare owners. If your entire goal is to screw your HOA and your fellow owners by burdening them with your MFs and legal costs to foreclose, then by all means, do it. If, however, you want to actually make things easier for your executor, successor trustee, your HOA and your fellow owners, you'll make arrangements to allow for the legal transfer of title without the need for foreclosure. What folks needs to understand is that action NEVER results in screwing the developer.
There is not a difference in executor notifying HOA that the timeshare is not being passed on to beneficiaries or the beneficiaries notifying that they don't want the timeshare. I don't see how the cost to HOA is different. The HOA has to take back the deed in both situations. They do not need to undergo foreclosure.
When it is deeded property, the problem is that an HOA cannot simply "take back" the ownership without a legally prepared deed being recorded. When the owner has died, the ONLY way for a deed to be legally prepared is for an ancillary probate to be opened and the executor obtains court approval to complete the transaction. If the owner has not died, and has a DPOA in place, then the DPOA can execute the deed. Once the owner is dead, the HOA has no ability to simply "take back." No matter what, a legal proceeding must be involved, whether it is an ancillary probate or a foreclosure. The problem with a foreclosure, is state law dictates the amount of time that must pass with unpaid MFs before a proceeding can commence. That statutory period varies by state. It is typically around 5 years. There are no other avenues outside of a foreclosure or ancillary probate, UNLESS the ownership is held in trust. When in trust, the successor trustee holds the legal ability to convey the ownership to the HOA.