It’s harder for your parents to sell it than it is for you to decline it.

Anonymous wrote:I don't get how timeshares work

If you inherit it, you are responsible for the annual fees (usually thousands) even if you don't use it.

Anonymous wrote:You can decline to inherit the timeshare after your parent passes. Just tell the lawyer to decline it. It’s a simple process. The timeshare company is then forced to take it back.

You can't verbally decline- you can tell the lawyer but they have to draw up documents- A disclaimer of interest which renounces your legal right to the timeshare, so you are no longer responsible for its upkeep or payments.

I will take your share then.

I don't get how timeshares work

There are lots of things you should try to convert into cash before you pass.

R/E in general is a huge pain in the ass for your heirs, especially when maintenance hasn't been great and the house is filled with crap.

You can decline to inherit the timeshare after your parent passes. Just tell the lawyer to decline it. It’s a simple process. The timeshare company is then forced to take it back.

Anonymous wrote:And PSA to adult children:You don’t have to accept this “gift” if it’s willed to you. Do not get saddled with your parents’ foolish financial decisions.

Not totally true, each heir has to file a “disclaimer of interest” with the probate court to refuse the timeshare.

And PSA to adult children:You don’t have to accept this “gift” if it’s willed to you. Do not get saddled with your parents’ foolish financial decisions.

Anonymous wrote:You should start a thread on the Money forum (or at Bogleheads.org) and ask/search How to get rid of a timeshare.

I’m Not asking HOW!! This is a PSA to everyone with adult children to get the hell rid of their timeshares now! Their children do not want them.

You should start a thread on the Money forum (or at Bogleheads.org) and ask/search How to get rid of a timeshare.

Did the parents use it up until the end? If not, maybe they didn't know how, or couldn't, get rid of it.

What happens to time shares and pints or whatever when the last parent passes?

Should this be in Money and Finance or Eldercare?

For the love of EVERYTHING, parents: get rid of your timeshare before you pass! Do not leave this to your kids for them to deal with. It’s not an asset! It’s a terrible burden.