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Putting Diamond in your will

R.J.C.

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I'm not a lawyer so I wanted to ask the only 2 lawyers I know (at least I think y'all are lawyers), what would happen if someone willed their timeshare (week/points) back to Diamond (guess this applies to any timeshare company)? Is it legal to do so? Is it an effective way to ensure your kids don't end up with it if you know they don't want it after you pass? @Grammarhero and @Fredflintstone
 

Grammarhero

Official TUGBBS Rescission Master
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Location
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Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
I'm not a lawyer so I wanted to ask the only 2 lawyers I know (at least I think y'all are lawyers), what would happen if someone willed their timeshare (week/points) back to Diamond (guess this applies to any timeshare company)? Is it legal to do so? Is it an effective way to ensure your kids don't end up with it if you know they don't want it after you pass? @Grammarhero and @Fredflintstone

I can only answer to what would happen to a person living in NY. This is pretty ingenious, I have to admit. Usually, a kid can deny inheriting the TS, which reverts back to the TS resort.

If you’re 100 percent sure your kid doesn’t want the TS, it’s pretty ingenious to will back to the TS resort. people living in NY might also want to put a secondary will clause that if the TS resort rejects the gift, your children should reject inheriting the TS too.
 

Grammarhero

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,104
Reaction score
2,518
Points
449
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
I'm not a lawyer so I wanted to ask the only 2 lawyers I know (at least I think y'all are lawyers), what would happen if someone willed their timeshare (week/points) back to Diamond (guess this applies to any timeshare company)? Is it legal to do so? Is it an effective way to ensure your kids don't end up with it if you know they don't want it after you pass? @Grammarhero and @Fredflintstone
Also wanted to point something out. In NY, a will gift will not override the rights of survivorship. If there are other name(s) on a deed and one passes, the TS will still belong to the persons(s) on the deed. In NY, if one wills a TS back to the resort, there are no other names in the deed, and the resort refuses the willed TS, the TS reverts back to the estate. Is it then up to the inheritor(s) to decline inheriting the TS.
 

R.J.C.

unconfirmed
Joined
Oct 27, 2016
Messages
207
Reaction score
112
Points
53
I can only answer to what would happen to a person living in NY. This is pretty ingenious, I have to admit. Usually, a kid can deny inheriting the TS, which reverts back to the TS resort.

If you’re 100 percent sure your kid doesn’t want the TS, it’s pretty ingenious to will back to the TS resort. people living in NY might also want to put a secondary will clause that if the TS resort rejects the gift, your children should reject inheriting the TS too.

Yes, I understand a child can refuse an inheritance (or part of such as refusing only the timeshare) but I understand there is a time frame that this had to be done in so I was looking for a solution where that time frame would be negated by just willing it directly back to the resort. As you stated, they could also refuse but I would think that would be stupid of them knowing they are going to get it back anyway although they could be banking on the kids not knowing about the time frame or being too lazy to actually decline it. Thanks for the info.
 
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