Recommendations who to use to create a Trust

[Henry M.]

Interesting conversation and considerations. Thanks for the points made so far. It is helpful to hear the pros and cons and also different viewpoints on what to do.

 

[GerryWA]

If the beneficiaries of the trust do not want the timeshare, then the successor trustee can sell or otherwise dispose of the asset. I’m not using the term “asset” to connote value (ie asset vs liability), rather it’s an asset that is owned by the trust and carries a title, such that it requires that title to be conveyed legally to who ever will be the owner. As to who manages it, initially it would be th grantor of the trust, then it would shift to the successor trustee if and when the grantor resigns, becomes incapacitated or dies.

Yes, but the successor trustee must keep enough funds to keep timeshare(s) current till it sells. An earlier post mentioned the idea of a separate trust for the timeshare(s). I like this idea to keep real assets/ cash separate.