Sudoku
... continued from cover
I hate to say it, but the first and easiest way to get rid of a timeshare is by doing so after you die. When you pass away, your children or beneficiaries do not have to accept your timeshare. They have the right to exercise what is called a “disclaimer.” A disclaimer is a legal way of saying, “I don’t want this asset.” There are two things to keep in mind with this option: First, the disclaimer must be filed within nine months of the date of death of the current owner (you). If your beneficiaries would like help with filing the necessary paperwork, we’d be happy to work with them. Second, your children cannot use the timeshare first, then decide to disclaim it. Using the timeshare is considered acceptance. Please make your children aware of this if you decide to take this route.
Now for the hard part: the four ways to dispose of a timeshare while you are still living.
You can try and sell it. While writing this, I went to eBay to see what was available. I was amazed by how many people are trying to sell their timeshares there. The prices ranged from $1 (that is not a typo — one dollar) to tens of thousands of dollars. However, when you read the details of the particular timeshare, many of the maintenance fees are literally thousands of dollars every year (that was not a typo, either). What appears to be the most obvious and easy way to get rid of the timeshare is to simply give it to someone else. The challenge is finding that someone. It’s not that easy. One person in the industry that I spoke to suggested giving your timeshare to a person you never, ever want to speak to again. The reason, as you already know, is not the cost of the timeshare — it’s the maintenance fee. In most of these programs, the amount of the maintenance fee is not locked in and continues to increase every year. Another option is to call the company that issued the timeshare and ask them to take it back. This is a long shot. Rarely does it work. But occasionally, the company will take it back. They won’t pay you for it, but at least the maintenance fee stops. If none of these options work, unfortunately, you’ll need to hire a company to represent you, and that will cost you some money. Typically, the fee will be in the thousands of dollars. However, paying that fee doesn’t necessarily guarantee that they will be successful in getting you out of your obligations. When I called and spoke to a representative from one of these companies, I was told that there is a screening process before they will work with anyone. Basically, to screen me, they asked, “Were you pressured or misled, or do you feel that unethical sales practices were used to persuade you to purchase?” I thought that was an interesting standard for deciding whether they would take your case. Doesn’t that describe the whole process? Some of these companies are more reputable than others, as I referenced above. I spoke to two of them: Wesley Financial Group (800-425-4081) and The Newton Group (855-648-4462). This is certainly not an exhaustive list; I am sure there are others. Hopefully, this will give you some helpful insight into the process of escaping your timeshare. Again, let me repeat, if you have a timeshare, it works for you, and you’re happy with it, please don’t take this article the wrong way! I’m not hoping to put the world off timeshares for good — I simply want to show our clients who have expressed frustration a way out.
Solution on Pg. 4
Mini No-Bake Key Lime Pies
Inspired by FoodNetwork.com
Ingredients
• • • • • • • • •
1 cup lime juice
2 1/3 cups sugar, divided
2 sticks unsalted butter, softened
14 eggs
12 whole graham crackers 1/3 cup unsalted butter, melted 1 1/2 cups whipping cream 1/2 cup powdered sugar
Lime zest, for garnish
Directions
1.
In a medium saucepan over low heat, combine lime juice, 2 cups of sugar, and 2 sticks of butter. Cook until the butter melts. In a large bowl, beat the eggs with a mixer and stir into lime juice mixture until combined. Bring to a simmer. Stir constantly for 5–7 minutes until thick and creamy. Pour through a mesh strainer. Chill lime curd for 2 hours in the refrigerator. In a food processor, add graham crackers, 1/3 cup melted butter, and 1/3 cup sugar. Pulse to combine crumb mixture.
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6. In a bowl, whip the cream with powdered sugar until stiff for topping. 7. In 12 small dishes or ramekins, add the crumb mixture, followed by the lime curd. Add whipped topping and garnish with lime zest.
–John Preston
Best of luck, df
3 800.698.6918
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