Transfer Club Wyndham Membership to Trust or LLC?

[pointsguy]

I am getting older and would like to transfer my membership into either a trust or LLC so my kids can takeover if they want. Curious what others have done and if there is any benefit of one over the other?

 

[Floridaman76]

I don't think this will work out for you like you think it will. You will end up having to do guest certificates for every booking. Just approach the kids and transfer it to them if they want, or if they don't dump it.

 

[Zeke_62]

I thought about doing the same thing. I called title and they told me my developer contract would stay as a developer. I got cold feet as I don't trust them.

 

[Ken3025]

I am getting older and would like to transfer my membership into either a trust or LLC so my kids can takeover if they want. Curious what others have done and if there is any benefit of one over the other?

i can help you get that accomplished. I have done it before to both a trust and another to a LLC. Email me at jimmyrad3025@gmail.com

 

[1Melanie]

I am getting older and would like to transfer my membership into either a trust or LLC so my kids can takeover if they want. Curious what others have done and if there is any benefit of one over the other?

For a relatively low fee you can add your children to your membership. They become owners and will no longer require the use of a guest confirmation. When you pass away, they will be responsible for the maintenance fees but will not incur the cost of acquiring the membership or any/all benefits that come with it. You could have the MFs paid from funds in your trust or have them come to an agreement on how best to handle that. My children agreed to pay MFs every other year in the event the trust runs out of money. They could remove your name but, you could also leave your name on to be a place holder in the event they want to make multiple reservations and don’t want to use a guest confirmation until they are sure their guest is going to use the unit. Then change it at that time. (I got this tip from another TUG member.) Be sure they understand the program and how best to use it so they can continue to create memories for themselves and their families long after you’re gone.

 

[steve_solo]

Does putting the membership in a trust for adult children help insulate them from personal responsibility for the MFs in the event they don't want the membership far into the future? Such as just dissolve the trust when it has no worthwhile use?
If their name is on the contract they will be at the whim of Wyndham to take the contract back.