should i put adult children on deed

[somerville]

Originally Posted by 1950bing

I would be very very careful about adding names to the deed. First of all, they may not want to be on the deed because of all problems t/s can create. ( increasing costs ) They are not for everyone.
When it is no longer wanted they will also get stuck in trying to get rid of the thing. Do you really want to do that to your kids?

I have to agree with Bing on this question. You need to be careful with what liabilities you are passing on to your kids, and make sure they fully understand their obligations after you are gone.

[dukebigtom]

We put both our kids on the deed. I also had them sign a Power or Attorney allowing me to make any changes I wanted with Bluegreen, add, sell, rent, etc. I also have my name and daughter's name on RCI rather than my wife. My wife and I always travel together and my son has the same first name, so we call can check in without questions.

I have never had a probelm doing an update without the "kids". As long as my wife and I are there, they have never even asked. Probably never even noticed and probably wouldn't care unless I wanted to make changes.

The idea of them being left with a problem had never occurred to me, nor has it to my "kids". They seem quite happy with the idea.

BigTom

[bfdretired]

I have had some hesitation in putting kids on the deed. Now that I have had the chance to hear what others think I am going to put my sons on my deed. Rci membership is a good idea and the fact that they can benefit Now from my B/G membership rather than when I am gone makes me feel good. My sons have been to a couple B/G resorts and where pleased. Should they continue to use B/G that may be another reason to upgrade. I am wondering though when I pass the program on to them can they spit the program points in half or must they keep it as one plan. I dont want to create a problem for them. I am thinking if one brothers family uses more points than the other there could be disagreements. If the program is split equaly then they can do whatever they want............does anyone have any thoughts on this thanks john