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Dying without a will
Posted by: chopper
Date: May 18, 2015 11:44AM
Long story short, a good friend of mine passed away recently.

I found out yesterday he did so without a will or any estate planning.

He, like me, has a bunch of motorcycles, cars and tools. 10 motorcycles at least, 5 cars, etc.

I have a will, leaving everything to my family.

However, my vehicles and old motorcycles, many are from my pre-family days and are titled only in my name. I don't want to hand my wife a pile of problems if I suddenly do a chest grabber and face plant.

I live in Minnesota, most are titled in MN.

I was thinking I should get the vehicles in both of our names and when the title comes, sign my part of it and put it in a safety deposit box. This way they could be sold easily on eBay or something when I am gone.

My friend's wife has to go through probate on his machines and house and it is a huge headache after just losing her husband.

Suggestions welcome.
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Re: Dying without a will
Posted by: space-time
Date: May 18, 2015 11:47AM
Quote
chopper
...
Suggestions welcome.

don't die.
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Re: Dying without a will
Posted by: GGD
Date: May 18, 2015 11:54AM
In CA a vehicle can be titled in multiple names with AND or OR designations.

John Husband AND Jane Wife (Both must sign to transfer ownership)
John Husband OR Jane Wife (Either can sign to transfer ownership)

You want the OR form of title if available.
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Re: Dying without a will
Posted by: Robert M
Date: May 18, 2015 11:55AM
Chopper,

The issues your friend's wife is facing is one of the reasons everyone ought to have a properly put together estate package. You already have a will. That's just one component of a properly put together estate package. You need to speak to a reputable attorney who is experienced in estate planning to make sure the will is up-to-date and to put together the rest of the estate package.

This following site makes for a solid starting point:

[getyourshittogether.org]

Also, National Active and Retired Federal Employees Association aka NARFE has a great document called the NARFE Survivor's Guide in PDF format. You may be able find a copy on the Internet somewhere. It's like the documents on getyourshittogether.org but mroe comprehensive.

Still... Speak to an attorney for proper guidance in something like this.

Robert
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Re: Dying without a will
Posted by: modelamac
Date: May 18, 2015 12:13PM
You can put all vehicles in both names, but DON'T sign the titles when you get them back. A Death Certificate will do that for you.



Gonna ask my Mother if that offer to slap
me into next year is still on the table.
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Re: Dying without a will
Posted by: Acer
Date: May 18, 2015 01:01PM
Another document you might consider is a durable power of attorney. Then your designee can sign just about everything on your behalf should you be incapacitated, but not killed, by, for example, severe head trauma on an aforementioned cycle. Useful for accessing the other thousand accounts that might be in your name but otherwise out of mind.

However, it is a very powerful document. You must completely trust the designee. That said, it can lie in a safe deposit box unused until an emergency arises.



Edited 1 time(s). Last edit at 05/18/2015 01:02PM by Acer.
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Re: Dying without a will
Posted by: yeoman
Date: May 18, 2015 01:01PM
Attorney who did our revocable trusts said don't put cars in both names. If there's an accident having one owner limits your exposure. Whether this would hold up in court is unclear but that's what we did - separate titles.
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Re: Dying without a will
Posted by: MarkD
Date: May 18, 2015 01:27PM
The key for passing on property is figuring out what you have and what to do with it for the jurisdiction you are in. Take an inventory. Figure out what you want to happen to the property. Talk to a lawyer about how to make it happen in your jurisdiction. Some states have easy probate; some states might have tricky requirements for titling; community property states are really different--Louisiana can be in a class by itself. Even in a state there can be differences between big city probate/small town probate. The size of the estate may make some difference in the "best" way to transfer property. Each person involved should have some plan, because no one knows who will pass first.

Robert M --looks like a great website! In Texas, I might refer you to peopleslawyer.net

The other area you have to decide is your medical will, right to donate organs, pulling the plug. Prepare medical history/medications/allergies on a single sheet--just what you need for the ER room. I suggest that some time spent on these areas might well postpone the need to transfer property.
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Re: Dying without a will
Posted by: Bill in NC
Date: May 18, 2015 01:30PM
some states also have "transfer on death" for titled vehicles.
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Re: Dying without a will
Posted by: Wailer
Date: May 18, 2015 01:38PM
Even if your friend had a will, all his bikes will still have to be probated. Every state has a streamlined probate process for surviving spouses, so it should be very straightforward unless other parties are fighting over his stuff that or the title isn't clear, ie. jointly held with friends or lots of liens.

Lots of people die intestate (without a will). If you have something valuable that she'll need to liquidate immediately after you die, you could change the title to joint tenant with the right of survivorship (keep in mind that she could also then legally sell it while you are sleeping tonight). If it's only titled in your name, she'll eventually get title to everything after it's been probated. That is unless you have wives in different places that she doesn't know about.

If you don't want to hand your wife any headache, you should start selling, donating or disposing of stuff now. Even if you transfer title to her name, what is she going to do with all that stuff after your gone?
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Re: Dying without a will
Posted by: N-OS X-tasy!
Date: May 18, 2015 01:41PM
Nolo Press [www.nolo.com] is another great site for legal matters.



It is what it is.



Edited 1 time(s). Last edit at 05/18/2015 01:42PM by N-OS X-tasy!.
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Re: Dying without a will
Posted by: N-OS X-tasy!
Date: May 18, 2015 01:44PM
Quote
Wailer
If you don't want to hand your wife any headache, you should start selling, donating or disposing of stuff now. Even if you transfer title to her name, what is she going to do with all that stuff after your gone?

That advice completely disregards the likelihood that the OP wants to continue to have available for use the items in question while he is still alive.

RollingEyesSmiley5



It is what it is.
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Re: Dying without a will
Posted by: Paul F.
Date: May 18, 2015 01:49PM
Quote
N-OS X-tasy!
Quote
Wailer
If you don't want to hand your wife any headache, you should start selling, donating or disposing of stuff now. Even if you transfer title to her name, what is she going to do with all that stuff after your gone?

That advice completely disregards the likelihood that the OP wants to continue to have available for use the items in question while he is still alive.

RollingEyesSmiley5

It also pre-supposes that the OP is "circling the drain" and knows it... which is also not a cool assumption to make.



Paul F.
-----
A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

--

--

--
Eureka, CA
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Re: Dying without a will
Posted by: cbelt3
Date: May 18, 2015 01:53PM
Chopper.... good on you for thinking ahead. Yeah.. having your paperwork in order is a big help.
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Re: Dying without a will
Posted by: N-OS X-tasy!
Date: May 18, 2015 02:03PM
Quote
Paul F.
Quote
N-OS X-tasy!
Quote
Wailer
If you don't want to hand your wife any headache, you should start selling, donating or disposing of stuff now. Even if you transfer title to her name, what is she going to do with all that stuff after your gone?

That advice completely disregards the likelihood that the OP wants to continue to have available for use the items in question while he is still alive.

RollingEyesSmiley5

It also pre-supposes that the OP is "circling the drain" and knows it... which is also not a cool assumption to make.

I didn't even consider that - I thought it was silly to recommend that OP begin the process of selling off his assets now even though he will likely be around for years to come and presumably would want to have them available.



It is what it is.
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Re: Dying without a will
Posted by: Paul F.
Date: May 18, 2015 02:08PM
Either way... not the best advice. :-)



Paul F.
-----
A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

--

--

--
Eureka, CA
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Re: Dying without a will
Posted by: Wailer
Date: May 18, 2015 02:19PM
You guys are right.

I think it's better for me to keep my experiences and opinions to myself. Thanks for pointing that out.
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Re: Dying without a will
Posted by: billb
Date: May 18, 2015 02:24PM
popcorn smiley



The Phorum Wall keeps us safe from illegal characters and words
The doorstep to the temple of wisdom is the knowledge of one's own ignorance. -Benjamin Franklin
BOYCOTT YOPLAIT [www.noyoplait.com]
[soundcloud.com]
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Re: Dying without a will
Posted by: Paul F.
Date: May 18, 2015 02:25PM
Quote
Wailer
You guys are right.

I think it's better for me to keep my experiences and opinions to myself. Thanks for pointing that out.

You're free to share, we're free to disagree.
See how that works?



Paul F.
-----
A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

--

--

--
Eureka, CA
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Re: Dying without a will
Posted by: N-OS X-tasy!
Date: May 18, 2015 02:38PM
Quote
Paul F.
Quote
Wailer
You guys are right.

I think it's better for me to keep my experiences and opinions to myself. Thanks for pointing that out.

You're free to share, we're free to disagree.
See how that works?





It is what it is.
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Re: Dying without a will
Posted by: Rick-o
Date: May 18, 2015 06:15PM
Quote
Wailer
You guys are right.

I think it's better for me to keep my experiences and opinions to myself. Thanks for pointing that out.

I'd rather you continue dispensing valuable advice as you have over the years here at MRF, Wailer. In fact, I would like to see MORE posts from you and LESS from some of the other jabber mouths that populate this space.

There's a lot of us here that welcome your opinions on such matters. Just ignore the MR Hoi polloi and keep doing what you do. thumbs up



Mr. Lahey: A lot of people, don’t know how to drink. They drink against the grain of the liquor. And when you drink against the grain of the liquor? You lose.

Randy: What the @#$%& are you talking about?
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Re: Dying without a will
Posted by: Filliam H. Muffman
Date: May 18, 2015 07:07PM
Power of attorney and a trust can avoid a lot of grief. Also consider consolidating assets and closing unused credit cards. Chasing down 53 different accounts (store credit cards, checking/CD/saving accounts in different states, etc.) that my Mom had was a real pain. It wasn't helped by the bank consolidation that started in 2008.



In tha 360. MRF User Map
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Re: Dying without a will
Posted by: richorlin
Date: May 18, 2015 09:18PM
Here's a link to the NARFE document:

[www.narfepremierfcu.org]



richorlin

[DrawingMyLife.com]

[www.dudeism.com]
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Re: Dying without a will
Posted by: Filliam H. Muffman
Date: May 18, 2015 11:01PM
Quote
richorlin
Here's a link to the NARFE document:

[www.narfepremierfcu.org]

A very good start. thumbs up I noticed it's missing basic life insurance and some sections were way too short (at least from my experience). It would be nice if they had outlines/guidelines for medical power of attorney and family discussions about advanced medical directives. Dementia, Alzheimers, and injuries can incapacitate the elderly before you expect it.



In tha 360. MRF User Map
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Re: Dying without a will
Posted by: Michael
Date: May 19, 2015 11:02AM
Quote
GGD
In CA a vehicle can be titled in multiple names with AND or OR designations.

John Husband AND Jane Wife (Both must sign to transfer ownership)
John Husband OR Jane Wife (Either can sign to transfer ownership)

You want the OR form of title if available.

We title our cars as "OR" so that when I trade them in my dear wife doesn't have to tag along. She's spent more time than she wants in dealerships twiddling her thumbs as processes go on. Also, when I go toes-up she can just do whatever she wants with them.
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