Estate planning with cars

[BillD]

Thanks for all the responses. It is now perfectly clear to me what has to be done. I have to specify exactly how I want things handled and who is to do it. And the kids are going to have to get knowledgeable and involved or they will get picked over by any number of people.

[Belair62]

Listen to Tom...you need a Living Will and Trust with everything flowing directly to your heirs thru your appointed Succesor Trustee and bypassing probate all together. Forget the self help books...get a good Estate attorney and do it right.

[Mr70]

...and it wouldn't hurt to see your family Dr. regularly,as it may help detect a problem early that may be unbeknownced to you now..

[sixbrl440]

If I may be so bold, it would also be a good idea IMHO to have title[s] to the willed vehicle[s] locked away in like a safe deposit box at a bank, with one's attorney of record holding a key.

Also, the same attorney of record should have a list, including all VINs and detailed descriptions [pictures, if possible, in current condition]of each vehicle, as well as its location.

[ChevyThunder]

I have used trusts . I own nothing I am just the executor. I have appointed a series of trusted executors just in case. I have also left detailed instructions.." if my kids are in college they need to have a 2.8 or above GPA or no money fromt the trust for school...they get "x" amount at 25 years of age... the balance at 35 years of age....If the trusts personal assets are to be sold there are directions on how to do it... contact XYZ to determine fair value...you can also send your executor or trust attorney info from Hemmings..print out Ebay auctions and such every six months to a year to keep an idea of value for those who are not as informed.