Will Your Timeshare Contract Survive Your Death

Remember that idyllic vision the timeshare salesperson painted? Sun-drenched vacations, cherished family memories, and a legacy of travel for generations to come. Perhaps they even sweetened the deal by suggesting to put that timeshare ownership into a Living Trust, touting its tax efficiency and how it would seamlessly pass the timeshare on to your loved ones. Sounds perfect, right? But what happens when “forever” takes on a whole new meaning?

You diligently funded that trust year after year, ensuring those pesky maintenance fees were always covered. You envisioned your children enjoying the same sun-kissed escapes you did. But have you stopped to consider what they envision? Will managing a timeshare, even one held in a Living Trust, be uppermost in their minds, especially in the emotional whirlwind following your passing?

Let’s be honest: Your kids might not share your passion for that particular timeshare resort. They might have different travel preferences, different financial priorities. And the last thing they’ll want to deal with in the midst of grief is an unexpected timeshare obligation, complete with those ever-increasing maintenance fees and the possibility of paying a large special assessment should your home resort ever find itself involved in a natural disaster.

Here’s the harsh reality: That legally binding timeshare contract you signed isn’t just for your life. It often extends far beyond, becoming an unwanted inheritance for your unsuspecting children. This is especially the case if it’s tucked away in a Living Trust, which by its very nature continues to live on after your passing.  This presents the very real possibility that the maintenance fees and potential special assessments from a timeshare contract will drain the trust of whatever assets it may contain at the moment of your passing.  

Ask yourself these tough questions:

• Did your timeshare salesperson fully explain the long-term implications of the contract, including what happens after your death? Or did they focus solely on the immediate benefits?

• Have you openly discussed the timeshare with your children? Do they even want it? Are they prepared for the financial commitment?

• Are you absolutely certain that the Living Trust is structured in a way that truly benefits your heirs, or does it primarily benefit the timeshare company?

• If the thought of your kids saddled with this burden makes you uneasy now, how much more will it weigh on their hearts after your funeral?

At Timeshare Recyclers, we understand that legacies aren’t just about possessions; they’re about the memories and opportunities you leave behind. We can help you navigate the complexities of timeshare ownership and explore options for exiting your timeshare contract, ensuring that your legacy is one of joy and freedom, not unexpected financial obligations.

Don’t leave your children with a timeshare burden. Contact Timeshare Recyclers today for a free consultation. Let us help you plan for a future where your loved ones are free to create their own memories, without the weight of an unwanted timeshare contract. Click here to learn more!