Changing Ownership Of Toad November 21, 2015, 06:16:38 pm Yahoo Message Number: 157100My question is a bit unique. I was wondering if there is a way to put a vehicle title (known as pink slip in CA) in escrow so if something happened to me a friend would inherit my (insert whatever vehicle you own here.) If something happens to me I want my vehicles to go to a person I have lots of respect for. He/She can then donate them, keep them, or sell them as they see fit. Anyone have experience with this? Luckily I own all of my vehicles and hold title to them. No banks or financial institutions involved.It's fireworks time here in NV.bobmoore14Looking forward to a lobster tail thanksgiving. El Capitan for a few...
Re: Changing Ownership Of Toad Reply #1 – November 21, 2015, 06:39:17 pm Yahoo Message Number: 157102That is an attorney question for the state the vehicles are registered in. Just remember when your going in that not all attorneys are scum sucking evil suckers. Just the famous one are. (just kidding).In general Vehicles are property. So I would suspect a valid will would do the trick. You do want to go to an attorney for the will for something like this. You can do an on line thing, but it could be contested. Especially if there is a chance that you want the vehicles to go to someone other than the nearest blood relative.Attorneys have already invented this particular wheel. They can do it in a way that sees that your desires are looked after. If you want to surprise the person, they can work that out too. You might want to think in terms of what if you out live the intended recipient so you only go down this path once.
Re: Changing Ownership Of Toad Reply #2 – November 21, 2015, 06:53:33 pm Yahoo Message Number: 157103Thank you John for your good advice. Thank you for sending me in the proper direction. Luckily for me I have a very good lawyer. When the time comes, I want my LD to go to someone that will take care of it.bobmoore14
Re: Changing Ownership Of Toad Reply #3 – November 21, 2015, 07:39:57 pm Yahoo Message Number: 157105Depends on the laws in the state you have domicile. I'm not a lawyer but I would think a Last Will and Testament would take care of that issue a and others as will. I do know that I'd you don't have a Will the State will have a default position that will not be in your best interest.Glen
Re: Changing Ownership Of Toad Reply #4 – November 21, 2015, 08:04:39 pm Yahoo Message Number: 157106One way to do it is with. Montana llc. Call Bennett Law Office in Misoula s and talk to them.Lee
Re: Changing Ownership Of Toad Reply #5 – November 21, 2015, 09:45:02 pm Yahoo Message Number: 157109I would like to thank those that have given me helpful advice in this manner. There are so many quality people on this forum. That seems consistent with all the LD owners I have met. You are all special. I hope you can join me in a good glass of red wine at the Morro Bay event in March. I will be serving and hoping to meet new friends. If you don't drink I will have Tamales, Cheese, and some sweets.Love to all,bobmoore14
Re: Changing Ownership Of Toad Reply #6 – November 22, 2015, 12:55:07 am Yahoo Message Number: 157112In Missouri we have various options in titling vehicles, which are considered "personal" property, rather than "real" property (land/houses/etc.). When my mother died, her minivan was in her name only (not in the trust with other personal property/real estate), so we had to probate that one item to change the title--& even though we were listed as co-equal with Powers of Attorney & had the Order from the local Probate Court, the local License Office made me get my sister's signature from Texas to transfer the title, since I was receiving the vehicle (of course, that may have just been the small-town clerk, who has a reputation for being difficult & unhelpful). Since I have no spouse with a property interest in my estate, when I later titled the van in my name, I simply had it done as "Title on Death" to my two kids (since they will be equal beneficiaries, they will have to figure out how to divide/dispose of everything); I did the same when I later acquired LDy Lulubelle & the farm truck, though there was no title to transfer on the tractor I inherited. I can dispose of the vehicles in any way, at any time, but Title on Death avoids having to re-do the will/estate plan every time there is a title change (buying/selling/giving away/signing over to the insurance company when a kid hit me & totaled the previous pickup/etc.) & avoids probate (since it goes directly to the new owner at my death).The attorney handling your estate plan/will would best understand the particulars of your state.
Topic: Changing Ownership Of Toad (Read 10 times)
previous topic - next topic
Topic: Changing Ownership Of Toad (Read 10 times)
previous topic - next topic