Help needed with how to handle an inherited HGVC timeshare

[LesleyJ]

Have any of you inherited an HGVC timeshare? My Mom & Dad both passed away in the last year. They owned 3 HGVC timeshares. One (on International Drive) had my brother as a co-owner so that one passes to him without any problem. They also had one at the Flamingo (7000 Platinum points) and one at Sea World (5000 gold - I think). For various reasons they never got around to adding my sister and I as owners to those properties. I'm a little overwhelmed trying to figure this out. I've talked to a HGVC customer service rep and according to them we need to hire a lawyer in each state and have the property go through probate. Does this sound right? I'm not even sure how to go about finding a lawyer in these state. My sister and I both live in Illinois. Any thoughts?

 

[whatsburning]

If your parents did not have a revocable living trust, probate is where all of your parents' assets will go to get distributed to their heirs. In the case of your brother, because he is probably a joint tenant or ownership, you're right, he gets it with no probate.

The bad thing with probate, is you will have to hire attorneys to get it done. More $$ out of pocket. Also, sometimes it takes months and months to complete the whole process. With the trust, all attorneys fees will have been paid when the trust was created so everything is spelled out, no more attorney's fees, and no waiting.

Try checking out that legalzoom website I always hear on the radio. Suppose to be created by OJ Simpson's attorney or someone like that. Maybe some local TUGGers can give you some leads?

Sorry for your loss, not trying to give you more bad news... as for the HGVC TS's... once the legal stuff is done, have fun and enjoy some nice vacations!

Good luck!

 

[Talent312]

When someone dies, their assets -- those that do not vest in someone else by virtue of a joint-ownership -- become assets of their probate estate. Often, family members help themselves to personal items, but for major items and real estate, a petition to probate the estate must be filed with the court and an executor appointed who will make an inventory, pay claims, and sell assets or distribute the remaining assets.

For property in other states, an "ancillary" proceeding may have to be filed in each. Some states have a "small estate" process whereby a simple petition can be filed which says that the debts have been paid and describes how the estate is to be divided. The court then issues a distribution order.

A TS resorts sometimes accept orders from other states and don't require a local court order (we did that once with a brother-in-law's TS), but HGVC has a bevy of lawyers telling it what to accept, so a distribution order from the state in which the TS is located will likely be needed.

I suggest that you consult a probate lawyer in your home state. He or she may be able to help you get a distribution order in their home-state which can then be used, if necessary, to a distribution order where the TS are located.

 

[yumdrey]

You and your sister need to go through probate which is a long process and cost money.
Currently I am buying timeshares from owners who are in the same situation as you, and they started probate last October and still no update.
With death certificate, maybe Hilton will let you use your parents' account/points which is a plus so you don't waste this year's points. You can reserve something and rent to recover some cost while go through probate.

 

[Purseval]

Unless you actually want the timeshares nobody can force you to inherit one. If it turns out that the choice is turning them over to HGVC or giving them to you they would most likely let you have them. Remember that you will be inheriting a lifetime of maintenance fees.

 

[newportbeach]

Have any of you inherited an HGVC timeshare? My Mom & Dad both passed away in the last year. They owned 3 HGVC timeshares. One (on International Drive) had my brother as a co-owner so that one passes to him without any problem. They also had one at the Flamingo (7000 Platinum points) and one at Sea World (5000 gold - I think). For various reasons they never got around to adding my sister and I as owners to those properties. I'm a little overwhelmed trying to figure this out. I've talked to a HGVC customer service rep and according to them we need to hire a lawyer in each state and have the property go through probate. Does this sound right? I'm not even sure how to go about finding a lawyer in these state. My sister and I both live in Illinois. Any thoughts?

I am an attorney who has done over 100 probates. Items are accidentally or inadvertently over look as to title in a lot of estates. Even estates that have Trusts, the parents inadvertently take title in their individual name with indicating the existence of a trust. In California there is a statutory implications that if the trust itself says all my real estate and a property is not recorded in the name of the trust, that such property is implied to have been included. You have received two very very good pieces of advise:

1. Talk to an attorney in your parent's state. I assume there is no trust, but perhaps a will so you all ready have a need for an attorney anyhow. This
attorney can also contact HGVC and perhaps who ever is being appointed under your parents Will or Estate(if no Will) will be sufficient for HGVC to communicate with. After all, HGVC wants to collect maintenance fees. However, as to the deeded week, the local county recorder in the state of the TS will need a Court Order or something to be able to justify recording a deed. If you find that the costs of such a probate order is too great, look into the possibility of the local State allowing some sort of summary probate for property for example less than $10,000. As a last resort, if you want to keep the TS in the family and don't wanted to or can't afford a probate try to work out a deal with HGVC where the estates administrator can pay the maintenance fees and reserve a week and then the family member who pays the MF uses that week. I just you take a step back, look at this situation calmly and take a course of action.

 

[bogey21]

You just might want to make a financial calculation. Is the cost of three probate attorneys (one local and one in each of two other states) greater than buying the Weeks in the resale market. If it is and you still want the Weeks, you might consider telling HGVC that your parents have died with no will and that you don't want the Weeks. After the dust settles you can go into the resale market and buy similar Weeks if that is your desire.

I am 77 years old and this is one of the reasons I disposed of six timeshare Weeks and transferred the one my Son wanted into his name.

George

 

[jsb15]

I already had a revocable insurance trust and it was still an additional hassle titling my timeshare in that since HGVC didn't want to allow a title that did not include my name. Nevertheless, it will save my heirs probate costs and now that HGVC is charging for guest confirmations, that is appropriately waived for the trust owned account.