Believe in Vacation Ownership? Estate Planning for Your Timeshare

Some assets are more difficult to plan for than others.  As a recent article explains, timeshares can be the source of an extreme headache when it comes to estate planning.

First, it is important to realize that, after death, the deceased owner’s estate remains responsible for paying any timeshare maintenance fees and property taxes incurred. These fees can quickly add up, especially when the decedent’s heirs are unaware of them.

Most often, the decedent owner’s estate wishes to sell the timeshare. Unfortunately, timeshares are difficult to sell and it is often necessary for the estate to go to the timeshare company itself. The company may assist in selling the timeshare, however it will likely charge a large commission.