Transfer Club Wyndham to LLC or Trust?

[pointsguy]

My dad is currently a listed owner and has been rapidly declining in health. In light of this making preparations for the depressing eventual reality. Thinking of transferring to a trust or LLC? Any advantages Wyndham wise one over the other? Are there additional Wyndham costs. Fine print? Any information would be much appreciation.

 

[rickandcindy23]

Sorry you are going through this. I would really think about whether you want this ownership or if you want to just let it go. Does he have status of some sort?

 

[chapjim]

There are a couple of attorneys here on this forum who practice the law of persons and property and who are familiar with timeshares in trusts/LLCs. Hoping they jump in.

In the meantime, I'm wondering why you're focusing on a trust or LLC. Seems like an unnecessary complication. Does your father have a will? If you are the beneficiary and you want the ownership, take it through normal processes of succession.

I'm sorry you're in this situation but it is one that most of us are part of sooner or later, one way or the other. That doesn't make it any easier.

 

[dioxide45]

In reality, if no one wants the timeshare, you should be looking at ways to have hime give it back to Club Wyndham. It may also matter if it is deeded or Club Wyndham Access. Deeded would have to go through probate if it isn't in an LLC or trust. I don't think the same rules apply to CWA since it is not deeded real estate.

 

[Fido Chuckwagon]

My dad is currently a listed owner and has been rapidly declining in health. In light of this making preparations for the depressing eventual reality. Thinking of transferring to a trust or LLC? Any advantages Wyndham wise one over the other? Are there additional Wyndham costs. Fine print? Any information would be much appreciation.

Unless you want it, I would just try to get rid of it now, potentially through Certified Exit. If you do want it, then just have him deed it to you. If you do nothing, it's going to end up going through probate.