An Ownership For Life
Working in Owner Education a question is often asked of me; “How do I pass my Ownership on when the time comes?”
As Owners with the WorldMark South Pacific Club we have access to beautiful resorts in locations around the South Pacific and access to fantastic properties around the world with the help of our partner companies. We can share our Ownership with our family and friends over the years and create special memories that will last a life time.
One of the key benefits to our Ownership is that it is ours for life and as an asset it will become part of our Estate which we can pass on to our chosen beneficiary.
The term of the Club is 80 years from its commencement which was March 1st 2000. Therefore the Club will continue on until 2080.
In 2080 a decision will be made in regards to the future of the Club. This means that all of us existing Owners should be putting into place who will be nominated to take over our Ownerships when the time comes.
What Should I Do?
1. Talk to your family about your Ownership. Take or send them on holidays now and allow them the opportunity to experience the resorts and benefits available with the Ownership.
2. Educate them on what it means to be an Owner and tell them why you chose to become an Owner. Have them join you for an Owner Education session. Also explain to them what they will be taking on financially for example levies, and if there is any existing finance on the Ownership.
3. Nominate your chosen beneficiaries as authorised person/s on your account prior to it being transferred to them so they can access the Ownership, book holidays and experience what it is like to be an Owner before it being legally transferred.
4. Include your Ownership in your will with beneficiaries named. It’s not the most pleasant of things to talk or think about but it is important to declare it as one of your assets to be passed on.
5. In these circumstances there is no fee to be paid by your beneficiaries for the transfer of Ownership.
As a WorldMark Owner, I feel very fortunate to have the opportunity to holiday every year (sometimes more!) When I pass my Ownership on, I know I’ll be passing on a wonderful gift.
Not only do we as current owners have the opportunity to enjoy our Ownerships ourselves and with our families right now, but we are able to ensure the tradition of taking family time is continued on throughout the generations which will be our legacy to pass on.
Eve Taylor is the Owner Education Team Leader at WorldMark South Pacific Club and she loved the Club so much, she became an Owner in 2012. In her spare time, Eve relaxes on the beach with her partner Mat and their Samoyed pup Jeff. Eve is always busy dreaming about or planning their next holiday because “I love visiting as many WorldMark resorts as possible and draw on these experiences to motivate Owners to do the same.”