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Removing Beneficiaries

D

DD.S

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We own a contract with RVC - Club Regina - Puerto Vallarta, Mx. We put our kids on the contract so they'd inherit it if/when we pass. Now, they don't want it or to be stuck with many years of maintainence fees (30 years left). Doesn't the time share simply "end" if we die? There won't be more than a few bucks left in our bank account by that time.

DD.S
 
R

Rob&Carol Q

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The TS would go to the Estate and then be disposed of in accordance with the will.

Without a will...it goes to the Estate and then gets disposed of in accordance with State law...and perhaps Mexican Law...way outside my area of expertise here...

Pretty simple really...one question though. Where your kids of legal age when the Contract was signed and, if so, did they sign it? Unless they did, they can't be forced into TS ownership. Period.

Sorry, it doesn't just die with you. Your Executor will need to dispose of the TS in some fashion...whether to a child or sold on the open market for waaaay less than you paid...
 
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