Ugh...I thought I had figured out the right plan here but I think I have created a mess. So our deal is that we were going to buy three base contracts at VGF of equal point value, each one deeded with one of our three kids names on the contract. Then, we were going to either add on some more points at VGF to each contract or potentially get an additional contract at Riviera after we stay there in a few weeks. All contracts will be in same use year and we are in ROFR on the first two contracts (lurking for the last one when the points are right). We just don't know if we want two home resorts yet or just VGF.
We wanted the kids deeded separately to avoid any hassles with probate if something happened to me and my wife. But now I understand that these three initial contracts, each one deeded to Mom/Dad/one particular child, will have different membership numbers and have to be manually combined each year with DVC to combine points...and that can only happen one time each year, which won't allow us to pool all points each year?
Our plan is use ALL combined points for family vacations for another 15-20 years and then eventually divvy them up so the kids can manage their own points with their families when we are decrepit and too grumpy to go to the parks (my nickname is 'Carl' btw...).
So I think it would have been smarter to buy each base contract and include ALL family members names on each contract? That way I think they can be combined together to one membership number and there is no need to manually combine points? It also gives us the flexibility to sell one or more contracts easier than if we had bought one big contract with 3x the points.
Then, after 15-20 years when we want to just divide up the points and let the kids manage their own portion with their families, we can go through a process to isolate each contract to each particular child form what I understand.
Sounds like we can still accomplish this with the two contracts we are in ROFR for, but I just want to make sure this new strategy makes more sense for what we are trying to accomplish.
Ugh.
We wanted the kids deeded separately to avoid any hassles with probate if something happened to me and my wife. But now I understand that these three initial contracts, each one deeded to Mom/Dad/one particular child, will have different membership numbers and have to be manually combined each year with DVC to combine points...and that can only happen one time each year, which won't allow us to pool all points each year?
Our plan is use ALL combined points for family vacations for another 15-20 years and then eventually divvy them up so the kids can manage their own points with their families when we are decrepit and too grumpy to go to the parks (my nickname is 'Carl' btw...).
So I think it would have been smarter to buy each base contract and include ALL family members names on each contract? That way I think they can be combined together to one membership number and there is no need to manually combine points? It also gives us the flexibility to sell one or more contracts easier than if we had bought one big contract with 3x the points.
Then, after 15-20 years when we want to just divide up the points and let the kids manage their own portion with their families, we can go through a process to isolate each contract to each particular child form what I understand.
Sounds like we can still accomplish this with the two contracts we are in ROFR for, but I just want to make sure this new strategy makes more sense for what we are trying to accomplish.
Ugh.
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