anomamatt
Fastpass+ Strategist
- Joined
- Sep 28, 2016
If you have multiple children a trust does not protect against usage or even the issues of passing it on to children who may or may not be interested in it. It just makes it more simple to do it without probate. It can get just as messy with a trust for those children unless they all agree 100% of the time as well as their spouses agreeing 100% of the time and their children etc. etc.
Sure, nothing is foolproof or simple with someone passing away. We have two kids and we have contracts setup so they can be evenly divided. Sure, that means additional closing costs, but also makes it easier to sell. It also means the number of contracts we have is a bit out of control given that each resort has two contracts (and we own at 5 different resorts), haha.
On the topic of interest and ability to pay, etc. Yep, we can always sell if we think a kid won't be interested, etc. Plenty of time to figure all of that out.
My main point was just to push back on the idea that "I'll be dead, who cares about the other years" when it *could* be leaving value on the table.