Your parents bought a timeshare years ago.
Maybe you went there as a kid.
Maybe they still go every spring.
Or maybe they haven’t used it in a decade, but they still pay the bill every year.
Here’s what many adult children don’t know. When your parents pass, the timeshare can pass to you.
So can the maintenance fees.
The best time to deal with it is now, while your parents can still decide.
Why this conversation matters
Many timeshare contracts have a perpetuity clause. The obligation has no end date.
When an owner dies, the timeshare usually becomes part of the estate. Unless the heirs refuse it, the fees can land on them.
Families who wait often find out in the middle of grief, with a fee bill on the kitchen table.
How to bring it up
This talk can feel awkward. It touches money, aging, and loss all at once.
A few easy ways to start:
- Start with the trips, not the bill. “Do you still go to the timeshare? Do you still enjoy it?”
- Make it about planning. “I’m getting my own estate plan in order. Can we look at yours too?”
- Use the fee notice. “Your new fee bill should come soon. Did it go up again this year?”
Keep it short. You don’t need to solve everything in one talk.
Six questions to ask
- Is the timeshare paid off, or is there still a loan?
- How much are the yearly fees now?
- Do you still use it, and how often?
- Where are the contract, the deed, and the account login?
- Is the timeshare named in your will or trust?
- Would you rather keep it, or be done with it?
Write down the answers. Keep copies of the paperwork in one place.
What your parents can do now
If they love it and use it, they can keep it. Make sure the will says who gets it, and make sure that person wants it.
If they’re done with it, they can work on getting out now. Ending the contract while they’re alive saves the family from dealing with it later.
If they plan to leave it to someone, ask that person first. Nobody wants to be surprised with a timeshare.
What if your parent has already passed?
You may be able to refuse the timeshare. A formal refusal is called a disclaimer.
Under federal tax rules, you usually must make a disclaimer in writing within nine months of death. You can’t use the timeshare or accept any benefit from it first. State rules vary, too.
Talk with an estate attorney before you pay a fee, book a stay or sign anything the resort sends you.
Our complimentary Timeshare Resolution Guide explains the legal ways out of a timeshare contract for owners and their families.
