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Re: Anyone know anything about Finn Law Group? (by Irene P.):

I connected with Karl. He is not a U.S. Citizen. We have volunteers near his country of residence that went through what he is going through. If i advised someone to default on a mortgage I would be sued for practicing law. That said, several our volunteers have been through this default process. There is an extensive support group of volunteer members helping members. The worst is Orange Lake. I'm told they will go after a summary judgment on a loan default. You have to be careful giving advice. Vacation Village has been pretty good to their members.

Inheritance is not cut and dry. At Wyndham Carriage Resorts in Ontario they were taking kids and grand kids to court just for maintenance fees. After an organized effort, the strategic accounting firm BDO Dunwoody was brought in and now they have a proposed exit plan.

I am a retired Certified Financial Planner. I helped settle a lot of estates. An outstanding loan balance can complicate the settling of an estate. This article by Steven Merrell at Monterey Private Wealth provides explains. 

https://www.montereyherald.com/2020/01/22/steven-merrell-financial-planning-beware-t he-timeshare-trap/  

I included this in an article I wrote one Halloween called Heir Scare

The deed is usually paid in full, so by buying points via a loan, or charged to a credit card, the sales agent has created a liability when none existed. I’m not an estate planning lawyer, but I found this RedWeek post from a practicing estates lawyer:

To all those inquiring about your heirs being saddled with this albatross: I have been a practicing estates lawyer in NY for nearly 50 years. The information given to you by Laura (I believe her name was) was basically correct: your beneficiary cannot be “forced” to inherit (and therefore have to pay for maintenance etc.) for the timeshare. The legal route is to execute a disclaimer within 9 months after death, and make sure that you do NOT accept the timeshare by using it or otherwise indicating acceptance (e.g., trying to sell it as if you own it). However, each state has its own laws as to how one disclaims. ……Note though: the (resort) can then also disclaim it, so there are some further fine points legal steps that must be implemented in your Will or trust to deal with that possibility. But most definitely your heirs are NOT bound to accept the timeshare and make the payments if a proper disclaimer strategy is included in your estate planning documents.

stevenw on May 02, 2017 06:01 PM.