[WSBAPT] Time Share bequest

[Erin Fairley]

Good morning,

Has anyone heard of this method being successful in getting rid of timeshare:   testator leaves timeshare interest to a small charity picked at random.  My client has heard of this method being used in Illinois.  Supposedly time share company will not bother going after the charity and no 'human' has to deal with the timeshare anymore.

Any other thoughts on how to pass on a timeshare interest or get rid of one?

Thank you,
Erin

Erin M. Fairley, Attorney
121 Lakeside Avenue, Suite 108
Seattle, WA 98122
mailto:efairley at advocateslg.com
Phone: (206)-535-7929; Cell:  (206) 353-4625
http://www.advocateslg.com<http://www.advocateslg.com/>


[cid:BCC1A9E6-7BEA-46B7-A29C-13D6A0570DCA]




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From: Ross Gardner <rossgardner.jd at gmail.com<mailto:rossgardner.jd at gmail.com>>
Reply-To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Date: Tuesday, April 19, 2016 at 10:02 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] TEDRA Question

Good Morning All,

I am working on an intestate probate case where the only asset in the estate is a heavily leveraged home.  The decedent passed in 2011, and her grandson has been making upgrades to and paying for the upkeep on the home.  He has gotten it fixed up to the point that he has started to rent it out.  The decedent had 5 children, all still living and in their 50's and 60's, although most are out of state and independently wealthy.  The children have a desire to keep the property in the family, but none of them can manage the property. They want to transfer the property to the grandson outright, but cannot just waive their interest in the property because there are other grandchildren who would inherit the property along with the grandson.

I am wondering what the best course of action would be to handle this.  Can the estate simply quitclaim the property to the grandson?  Is a TEDRA action necessary?  Any and all thoughts are welcome.

Thank you so much!


Best Regards,

Ross Gardner
Attorney

Phone: 425-870-4430
E-Mail: Ross at rossgardnerlaw.com<mailto:Ross at rossgardnerlaw.com>
Online: www.rossgardnerlaw.com<http://www.rossgardnerlaw.com/>
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