Making out a will (legal advice, money, property, bank)

[Cindi Waters]

This is confusing and troublesome. We don't have a lot but I don't want to leave whatever we have now up in the air. We do not want relatives arguing over it or trying to get anything because of the situation. So we're going to leave whatever we have to a couple of good friends and they know what to do with it. My question is about cars. We have 2 cars, both older models, not worth that much anyway, but -- how do we designate a beneficiary for them? Ideas would be helpful, thanks.
P.S. Whatever money we have in the bank is already designated to a beneficiary. So it's the condo (which we're working on to get the proper paperwork in order) and the cars.

[SoCalTwinkie]

You can designate a transfer on death beneficiary for cars.

[Cindi Waters]

Originally Posted by SoCalTwinkie

You can designate a transfer on death beneficiary for cars.

Thank you, I'll look into that.

[twinkletwinkle22]

I'm working on new wills now because we moved to a new state and need to update according to this state's laws and peculiarities.

When you are a married person and title your home correctly the spouse can inherit with little fuss. It's the surviving spouse's will that passes property and cars after their death. The question is: how much are you willing to pay a lawyer to write a will in order to have friends inherit after the survivors death?

I haven't gotten quotes from lawyer yet. It's not highest priority since we are both alive but it will get done.

[reed303]

Check with your State's DMV.

Ours (CT) has a form which can be used to designate a beneficiary for a car..

[MinivanDriver]

An attorney would answer all these questions based on the laws of your state. Don't use CD for outright legal advice.

[Cindi Waters]

Originally Posted by reed303

Check with your State's DMV.

Ours (CT) has a form which can be used to designate a beneficiary for a car..

I am checking with the state's DMV rules. It gets pretty complicated for a dullard like me. But I intend to figure it out because I'd have the same questions for a lawyer... everything we own is in both names, but my husband is handicapped and may not be able to cope well so I am seriously considering having a trustee, or I think they say a living will. I think. a revocable trust. I think.

[Cindi Waters]

P.s. I want to make it as easy as possible for the ones getting the estate.

[mathjak107]

Here in ny you can not list a beneficiary or transfer on death on a registration .

You must go through the process of registration with a load of documentation.

Definitely see an attorney with a handicapped spouse to make sure everything Is to the letter of the law.

Documents can change without these on line will makers knowing .

Here in ny we went to a newer power of attorney form because of elder abuse .

It lets you have restrictions on many things if one wants .

The older form does not have to be accepted by brokerages .

So it’s best to get this stuff right

[Cindi Waters]

Ok thanks