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Can My Family Inherit My Season Tickets?

As part of an estate plan, sports fans who have season tickets might wish to pass these tickets on to family members or loved ones to enjoy. Unfortunately, passing on these tickets might be less simple than you would expect.

Acquiring season tickets to your favorite sport can be challenging to begin with. These tickets might be very expensive and may have a waitlist. It’s understandable to want family members or friends to be able to use these tickets after you have passed away, but most teams have limits for how you can transfer tickets while still alive or after death.

As a season ticket is a contract between the purchaser and the team, the team is able to put restrictions in this contract. Limits can be set on when and how the tickets can be transferred to another person. A team may state that the tickets cannot be transferred by will or trust, may only allow transfers to one’s spouse or close family members, or may require ticket holders to follow certain procedures to transfer the tickets.

Some teams do have a form you can fill out to designate a beneficiary who will inherit your tickets. Others only allow a spouse to use the season tickets of someone who has passed away. There are other teams that only allow season tickets to be transferred to a parent, spouse, child, or sibling. These tickets go back to the team if the ticket holder had no surviving family members who could take over the tickets.

Also keep in mind that some teams require people to pay a large fee for a seat license before being able to buy season tickets for those seats. A seat license, however, can be transferred by will or trust.

If you own season tickets for your favorite sports team and wish for loved ones to be able to use them should you pass away, make sure to include them in your estate planning and find out if and how your team allows these tickets to be transferred to your family members or friends.

https://www.elderlawanswers.com/can-my-family-inherit-my-season-tickets-18766