Timeshare owners James and Barbara Ruh enjoy their annual vacations in Hawaii, but they don’t want their daughters to be obligated to take over the contracts when they die. So the Ruhs, who are attorneys with offices in Santa Barbara, California, and Edwards, Colorado, created a trust to hold their timeshare interests.
The daughters, who are co-trustees with their parents, can keep the timeshares, sell them or abandon them after the parents’ deaths, Barbara Ruh says. The trust is designed to prevent the timeshare resort developer from going after their daughters for any unpaid or ongoing costs.
“If our daughters do not want the timeshares, they will not be liable individually for any fees,” Ruh says.
In my latest for the Associated Press, a variety of options to assure nobody’s getting an obligation they don’t want.
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