"Different" DVC questions

[mommomtoJoseph]

I was bitten by the Disney bug after our first visit this spring with our 2 small sons. I am very interested in the DVC and have a few questions.

1. Do you claim the DVC on taxes in any way?

2. May other family members stay there using our points if they are not buyers?

3. How are the points used for taking a Disney Cruise? Is there a transfer fee of $95, like when you transfer your points to a moderate resort?

4. May DH and I transfer our purchase to our sons when they get older with families?

I received the brochure from the Timeshare Store and it helped clear up some questions, but these are still lingering ones. Any input is appreciated!

 

[DVCLiz]

I was bitten by the Disney bug after our first visit this spring with our 2 small sons. I am very interested in the DVC and have a few questions.

1. Do you claim the DVC on taxes in any way?

2. May other family members stay there using our points if they are not buyers?

3. How are the points used for taking a Disney Cruise? Is there a transfer fee of $95, like when you transfer your points to a moderate resort?

4. May DH and I transfer our purchase to our sons when they get older with families?

I received the brochure from the Timeshare Store and it helped clear up some questions, but these are still lingering ones. Any input is appreciated!

I think my accountant can deduct the portion of my DVC dues that are "property taxes", like the taxes I pay on my primary residence. If you use a home equity line to pay for DVC, you could also deduct that interest.

Yes, you may make a reservation for other family members. Their names must be on the reservation, and you must make sure they understand the cancellation policies and work out any financial responsibility they might have (ie paying you for a lost vacation if they cancel at the last minute, etc.) beforehand.

I don't know about the cruise policies, but someone will.

Yes, you can transfer the membership to your sons when they are older. You can either retain the ownership yourself and make the reservations for them, or you can actually transfer ownership. Remember that if you want to give them each a portion, you must buy in that way - ie if you own 200 points and you want to give them each 100, you must buy 2 100 point contracts in the beginning.

Hope that helps!!

 

[Disney_Villain]

How are the points used for taking a Disney Cruise? Is there a transfer fee of $95, like when you transfer your points to a moderate resort?

Yes, the $95 fee applies to all DCL cruise bookings on DVC points.

See this thread on 2009 DCL points charts if you'd like to know how many points a DCL gobbles:

http://www.disboards.com/showthread.php?p=25708921#post25708921&highlight=cruise+point+charts

 

[wdwnut]

Hi: Just another idea for you- you can add your sons' names to the contracts. We just did that when we did our last add-on. That way my son and dil can make their own reservations; they have full access to all our points. We'll add our younger son after he finishes college next year.