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Passing ownership to family members
- Thread starter jphilcici
- Start date
I believe VIP benefits only transfer to immediate family. I do not think that nieces and nephews qualify as immediate family - I would love to hear if others have found out differently.
Not from Wyndham documentation, but in general, I found this: The meaning of IMMEDIATE FAMILY is a person's parents, brothers and sisters, husband or wife, and children.
All that said -- maybe you can find a path? Transfer to your sibling (parents of the niece/nephew) and they then transfer to the niece/nephew. Sounds messy but maybe doable?
Not from Wyndham documentation, but in general, I found this: The meaning of IMMEDIATE FAMILY is a person's parents, brothers and sisters, husband or wife, and children.
All that said -- maybe you can find a path? Transfer to your sibling (parents of the niece/nephew) and they then transfer to the niece/nephew. Sounds messy but maybe doable?
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Of course, legally the trust has the VIP benefits as it's the owner (EDIT: I would think anyway. I've never seen some legal person other than the owner have benefits, but maybe Wyndham would say the VIP adheres to the trustee? Seems weird but who knows). So there's no transfer at all of ownership when the trustee changes. Of course, IDK how Wyndham handles trusts, but it's not an inheritance when the trustee changes - at least my lawyer made it sound like that was the entire point of the trust. I could be mistaken. (i.e. the things in the trust do not go through probate for instance)