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Leaving Your Timeshare Problem Out of Your Estate to Protect Your Children

Question: I am doing trust planning, and considering adding my timeshare. However, it has little to no value. Should I add this to my trust, or leave it out? Answer: If you made a bad decision in buying your timeshare, and are stuck making high annual maintenance payments, perhaps don't pass this legacy on to your kids. Your death will provide a chance to stop the timeshare madness. Some timeshares, like Disney's Vacation Club, are assets that can be resold. Your timeshare sounds like it has no resale value. Think of it as a liability. Adding the timeshare to your trust passes this liability on to your successor trustees after you die. However, if you keep the timeshare out of the trust, it will require probate to pass to the next generation. If you are using a trust for the rest of your assets, your kids may never probate your estate. This would leave the timeshare company out of options, causing them to simply foreclose on the unit. Strategically organizing your estate can …

National Consumer Commission of South Africa to publish report on the timeshare industry at the end of March

After thousands of complaints alleging consumer fraud and abuse at the hands of timeshare developers, the National Consumer Commission of South Africa appointed an inquiry panel in May of 2017 to investigate the industry. The commission is expected to release its report at the end of this month. The committee held hearings in all the provinces with timeshare owners. Final interactions were held with industry players in February of 2018.

"The inquiry panel is currently conducting research on issues that arose during the inquiry hearings and is reviewing all the input it has received," Mohamed said in a briefing on the commission’s work to the portfolio committee on trade and industry. "I expect them to provide me with a draft final report on March 15 or 16 2018. Once I have commented on the draft final report and my inputs factored into it, my intention is to sign off on the final inquiry report by March 31 2018."

The complaints of timeshare owners have included the…