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Post by gflatto on Feb 11, 2023 13:22:03 GMT -5
This isn't exactly buying/selling, but related. I know on Mouseowners there were a few threads where people gave very explicit instructions on what needs to be done to re-title DVC into a trust for ownership. Of course, we weren't doing that at the time, so I didn't create a way to keep the info. Now we are looking to make that switch, and am hoping someone who has come over here might have the information. And any referrals for folks to use to accomplish it would be great.
Also - I'm sort of assuming that Disney would treat this transaction similar to a sale when it comes to reservations - i.e., we wouldn't be able to set up a reservation now and then do the retitling before the actual visit because it would be considered a change of ownership. Is that correct? Or would we be able to do it even if we had a reservation booked with the points?
Any information/advice would be appreciated!
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Post by BWV Dreamin on Feb 11, 2023 13:26:25 GMT -5
We looked into this many years ago. Contact Member Accounting ( or the other option, not Member Services). They have a person that handles this. About 10 years ago, it cost $400/contract to retitle. They take care of all of the paperwork. At that time, we had several contracts, so it worked out better to title it in the name of our trust once we sold/ bought a new contract.
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Post by FessParker1 on Feb 11, 2023 15:00:01 GMT -5
I have the 3 page instructions for changing a title. Blured on here. PM me and I can email them to you.  |
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Post by bubster on Feb 11, 2023 15:57:51 GMT -5
I hope it’s ok to give recommendations on this site.
I just printed out our paperwork to add our 3 daughters to our contracts. We are dealing with Danny Cohen, there is also another lawyer in FL who helped us went we bought a resale contract, Jeffery C Sweet. Both were highly recommended. I know that Mr Cohen charges $175 per contract. We were going to put it in a trust but oldest DD wants to be on the contracts to be able to get an AP if they ever start selling them again and for the discounts….she spends a ton when they go with us.
FWIW, we tried to start this process last year but we had to wait because we had a reservation at Thanksgiving that was booked with points from 2 contracts. It would have put that reservation in jeopardy so we waited. We currently have 3 reservations but all are on single contracts so we should be all set.
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Post by Eeyorelover22 on Feb 12, 2023 6:24:52 GMT -5
As far as dealing with the other part of DVC, they can only be contacted by email. I talked with MS and they gave me the name of someone to contact and honestly, we were doing all the work and paying a fee. I had to contact a lawyer on my own to figure out what final box to check. The directions from the title company said to contact a lawyer too. Fortunately, our financial advisor is a lawyer as well. Seems to be the way of the world these days. DIY and pay the fee still. At least that’s how it felt to us. I wouldn’t attempt it on my own either. This was just since 2023 began too.
We didn’t add our kids in the end. We have equal points for the two of them. Maybe later…not that my crystal ball will help me then either.
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Post by Eeyorelover22 on Feb 12, 2023 6:27:36 GMT -5
I hope it’s ok to give recommendations on this site. I just printed out our paperwork to add our 3 daughters to our contracts. We are dealing with Danny Cohen, there is also another lawyer in FL who helped us went we bought a resale contract, Jeffery C Sweet. Both were highly recommended. I know that Mr Cohen charges $175 per contract. We were going to put it in a trust but oldest DD wants to be on the contracts to be able to get an AP if they ever start selling them again and for the discounts….she spends a ton when they go with us. FWIW, we tried to start this process last year but we had to wait because we had a reservation at Thanksgiving that was booked with points from 2 contracts. It would have put that reservation in jeopardy so we waited. We currently have 3 reservations but all are on single contracts so we should be all set. Didn’t know this piece either and no one would have told us this with the company that was suggested to us by DVC. |
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Post by BWV Dreamin on Feb 12, 2023 7:18:18 GMT -5
As far as dealing with the other part of DVC, they can only be contacted by email. I talked with MS and they gave me the name of someone to contact and honestly, we were doing all the work and paying a fee. I had to contact a lawyer on my own to figure out what final box to check. The directions from the title company said to contact a lawyer too. Fortunately, our financial advisor is a lawyer as well. Seems to be the way of the world these days. DIY and pay the fee still. At least that’s how it felt to us. I wouldn’t attempt it on my own either. This was just since 2023 began too. We didn’t add our kids in the end. We have equal points for the two of them. Maybe later…not that my crystal ball will help me then either. Wow this is very interesting. This was not our experience with DVC years ago. Well good to know. If you’re going to do all the work, you might as well get it for what sounds like a lot cheaper going through a lawyer. No way were we going to do this paperwork when it came to a trust. |
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Post by bubster on Feb 12, 2023 9:07:42 GMT -5
Just realized that I hadn’t mentioned that we are going through this process with our lawyer that had set up our trust. I know others have done this successfully on their own but I would never attempt it. We will be paying double fees but it will be worth it for peace of mind. It will still be cheaper than going through Disney.
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Post by jflatto on Feb 12, 2023 18:50:26 GMT -5
For those of you who put DVC into a trust, roughly how long did it take? We have a trip scheduled for middle of March (spring break and my 65th birthday 8-)) so we probably want to start the process right after that so that we can try to rent out any unused points. Also, has anyone put their DVC into a trust and also added their kids to the titles at the same time?
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Post by BWV Dreamin on Feb 13, 2023 7:50:48 GMT -5
For those of you who put DVC into a trust, roughly how long did it take? We have a trip scheduled for middle of March (spring break and my 65th birthday 8-)) so we probably want to start the process right after that so that we can try to rent out any unused points. Also, has anyone put their DVC into a trust and also added their kids to the titles at the same time? If you are meeting with a lawyer, it will take a few meetings to set it up and get it finalized. You definitely want to put your DVC into a trust in that it avoids probate. To do that your DVC deeds need to be titled in the names of your trust.( I have one and my husband has one). How we worked it with our kids is upon death of both myself and my spouse, the DVC would be up for grabs. If one or all want them, they would have to be sent to DVC as a gratuitous transfer, also in the name of their trust. If they don’t want them, there is no obligation and they would go back to Disney. I would give yourself at least three months to complete all of this. |
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Post by bubster on Feb 13, 2023 9:19:58 GMT -5
That’s why we are just making our kids owners by putting them on the deeds. No probate and no dealing with the trust. They are welcome to it when we’re done. They aren’t really kids…..
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Post by bakerworld on Feb 13, 2023 9:30:55 GMT -5
That’s why we are just making our kids owners by putting them on the deeds. No probate and no dealing with the trust. They are welcome to it when we’re done. They aren’t really kids….. LOL - our youngest is 35 today. We have to meet with a lawyer. We just need to find one. |
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Post by gflatto on Feb 13, 2023 10:50:38 GMT -5
There are certainly advantages to adding the kids to the deed - especially if APs and available discounts ever come back. But the draw back is that if either of the "kids" (twins who will be 21 in May) ever get into financial trouble, the asset could be seized. While I don't think that would happen, one child is not great with money, and it remains to be seen how that evolves once out of school and under less supervision from mom and dad. The child we are less worried about is also less interested in Disney, at least at this point in life. And if they don't really want it, then they are saddled with dues and selling. So just trying to consider all aspects.
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Post by BWV Dreamin on Feb 13, 2023 13:07:33 GMT -5
Along with setting up the Living Revocable Trust, a Will and Power of Attorney's were also set up. So you can get other included along with the trust.
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Post by gflatto on Feb 14, 2023 21:47:23 GMT -5
I have the 3 page instructions for changing a title. Blured on here. PM me and I can email them to you. View AttachmentI PM’d you - would love to get it emailed. |
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