[WSBAPT] Time Share bequest

Tue Apr 19 11:52:54 PDT 2016

Hi Erin,

If you tell the time share company that you want to return the time shares,
their first response is no.  But you can get them to waffle and say you are
returning the time shares at no value.  If there are concerns with your
client such as age, monetary issues, or health issues, you can play this up
to get them to take the shares back at no charge and at no value. These
firms that try to sell shares for you are in it for the fees and with mixed
results - generally poor results. 

The charity has to accept the gift for the gift to be bona fide from the
donor. I wouldn't do it because the time share company will come back to
your client. Time share companies are wise to this end round game. 

Good luck. 

Very truly yours,

Maureen A. Wickert, Attorney at Law

14900 Interurban Avenue South, Suite 255

        Tukwila, WA 98168

       Phone: 206-859-5502

         Fax: 206-260-9005

     www.wickertlawoffice.com <http://www.wickertlawoffice.com/> 

       wickertlaw at comcast.net <mailto:wickertlaw at comcast.net> 

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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Erin Fairley
Sent: April 19, 2016 10:19
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Time Share bequest

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/> 

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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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