Disney Vacation Club (DVC) is a popular vacation ownership program that allows members to enjoy Disney resorts and hotels around the world. But what happens to your DVC membership when you pass away?
Can it be willed to your heirs? Let’s find out.
What is Disney Vacation Club?
Disney Vacation Club is a timeshare program offered by Disney. Members purchase points that can be used to book stays at Disney resorts and hotels. DVC members also have access to other exclusive perks such as discounts on park tickets, dining, and merchandise.
Can DVC be Willed?
Yes, DVC membership can be willed to your heirs. However, there are some restrictions and requirements that you need to know about.
Restrictions
Firstly, the membership must be fully paid off before it can be willed. If there are any outstanding payments or loans on the membership, then it cannot be transferred through a will.
Secondly, only certain family members are eligible to inherit a DVC membership through a will. These include spouses, children, parents, siblings, grandparents, grandchildren, nieces or nephews.
Finally, the person inheriting the membership must also meet Disney’s eligibility requirements for owning a DVC membership. This includes passing a credit check and attending an orientation session.
Requirements
In order to will your DVC membership to someone else, you need to follow these steps:
1. Include specific language in your will that identifies your DVC ownership and how it should be transferred. 2. Provide proof of death and legal documentation of the estate.
3. Pay any applicable transfer fees and taxes. 4. Ensure that the person inheriting the membership meets all of Disney’s eligibility requirements.
It’s important to note that transferring a DVC membership through a will can take several months and may involve legal fees.
Other Options for DVC Inheritance
If you don’t want to will your DVC membership, there are other options available. For example, you can add a beneficiary designation to your membership. This allows you to name a specific person who will inherit the membership when you pass away.
Another option is to gift your DVC membership to someone during your lifetime. This can be a good way to avoid probate and ensure that your loved ones can enjoy the benefits of DVC while you’re still alive.
Conclusion
In summary, DVC membership can be willed to eligible family members as long as it’s fully paid off and the person inheriting it meets Disney’s eligibility requirements. However, there are other options available such as adding a beneficiary designation or gifting the membership during your lifetime. It’s important to consider all of these options and speak with a qualified attorney or financial advisor before making any decisions about transferring ownership of your DVC membership.
10 Related Question Answers Found
Are you a Disney Vacation Club member wondering if your membership can be passed down to your loved ones? The answer is yes, you can inherit your DVC membership. However, there are some important factors to consider before assuming that the inheritance process is straightforward.
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