Do you have a timeshare in Maui, in Laguna Beach, and then one in Maine for the summer months? Maybe you don’t have all three, but many of our clients have places that they’re able to use once or twice a year to get away and relax. It’s a fun vacation, and it’s something to look forward to each year.

Oftentimes for a couple, there is one spouse who has all the information and details about these assets, and the other spouse simply gets to show up for a little vacation. While that’s really wonderful in theory, we encourage our clients to utilize the document “Everything My Family Needs to Know...About Our Real Estate Holdings,” and share that information with their spouse and family. This document walks our clients through a list of properties that they may own, and it provides space to keep the important information all in one place.

Should I Include Our Timeshares? Even if We Only Go Once a Year?

The short answer is “yes.” While it may seem like adding this sort of property to the list would be frivolous, we encourage our clients to think through all the pertinent information when it comes to estate planning.

It’s often the reality that one spouse is in the know while the other is not, but it’s in a family’s best interest to put this information in one central location for future reference.

Who Should I Share This Information With and Where Should I Store it?

We recommend distributing this document to several people. We suggest placing a copy in your safe deposit box at the bank if you have one. Then, share it with your spouse and another family member or trusted advisor. It’s best to have the same copies given to at least three people.

Give yourself and your family peace of mind by ensuring that your estate planning documents are comprehensive. Make an investment in your future, today.
 

About Caldwell Trust Company

Caldwell Trust Company is an independent trust company with offices in Venice and Sarasota, Florida. Established in 1993, the firm currently manages over $800 million in assets for clients throughout the United States. The company offers a full range of fiduciary services to individuals, including services as trustee, custodian, investment adviser, financial manager and personal representative. Additionally, Caldwell manages 401(k) and 403(b) qualified retirement plans for employers.