[WSBAPT] Timeshare

[Heather deVrieze]

I would not be inclined to take that approach, because as a named beneficiary, they are entitled to estate information and owed duties that would not be the same if they are simply a creditor of the estate.

Heather

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Doug Owens
Sent: Monday, November 28, 2016 7:25 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Timeshare

Dear Margaret, perhaps the will of the second spouse to die could bequeath the timeshare to the timeshare corporation.  Yours truly, Doug Owens
On Nov 28, 2016, at 3:54 PM, Margaret Delp <delp at whidbey.net<mailto:delp at whidbey.net>> wrote:

Hello colleagues:
I have an estate planning couple with all their assets in Washington, except for a timeshare property in Wisconsin.  The timeshare cannot be sold – no one will buy it. The couple plans eventually to try to get the timeshare corporation to accept return of the timeshare at no value.  Previous posts on this list serve have recommended that approach, or using certain services to help get rid of a timeshare.

In the meantime, what do you do with such timeshares in an estate plan?  No one wants the timeshare.  If the couple passes away while still owning the timeshare, could the beneficiaries of the estate simply disclaim their interest in the timeshare?  Would the timeshare have a claim against the estate if the asset has been disclaimed?


Thanks,
Margaret

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