what will happen to your classic car when you die?
 

i sometimes toy with the idea of transferring mine into my sons' name, but not telling him.
i'm thinking if i leave behind unpaid medical bills or something; they will have to seize something else; he will still get the car.

am i right or wrong?
or make him co-owner?

i'm not thinking of checking out anytime soon; but i just turned 50, and have high blood pressure.
i'd like to be sure that my kid gets the car. i just don't want to tell him.

Eh, I won't care. Probably crushed or derbied as the kids have zero interest in them and the wife doesn't want to drive an old car she can't work on.

I don't have kids, and will hopefully sell it before I'm too feeble to do anything with it.

edit: Is it possible to transfer it into his name without him knowing? I'd think he would need to sign papers.

Ask your attorney/estate planner.

im leaving my cars to an unsuspecting friend or two..

This! PY is a great place for car advice, but not so great for legally accurate info.

My kids (14 & 16) love the old cars and both have already claimed one each as theirs when I kick off. Any others owned at the time will be sold off based on advice my wife will receive from Pontiac knowledgeable friends.

Daniel (my 20 year old) will probably end up with it.

That suits me now and I certainly won't care then.

I am passively selling my car now. What I tell people is "It isn't for sale but it can be bought." If someone offers me the price I have in my mind the car will be sold. If not I will drive and enjoy it until I can't.

It'll get pushed to the curb so the wife can finally park her car in the garage.

After your gone, will it really matter?
No, in seriousness , Id leave it to whoever might enjoy it. Your idea of placing the title in your sons name is a good choice.

I don't know what will happen to the racecar, but my daughter is definitely taking the GTO. I have to teach her to drive it soon, it can be a handful.

Weird this topic just came up.
Only today I was thinking about how much money I'm dumping in my 68 right now and that if something happened to me I'd need someone to help my wife liquidate things for what they are worth.

If I had any warning at all ... it's possible I'd try to find a local person right here on this forum to help her with it.
(but don't touch her till I'm gone :)

Good response.

Mrs71 and I are just finishing our estate planning. The Cutlass and some pontiac stuff, goes to my nephew. He knows it, the family knows it. Don't spring it on someone, make a plan. Don't leave to someone who has know idea it was coming. This could hurt them on taxes.

An easy way to do this without involving attorneys or planners, is to simply go to your dmv and ask about TOD. Transfer On Death. Easy, shouldn't cost a thing. Takes only a few minutes.

My youngest son gets my 67 GTO. He's worked on it for 25 years. Since he was just old enough to hand me stuff so he deserves it. My 64 GP I haven't decided yet. I have 3 more sons and grandsons so I don't know.

You could always adopt me real quick like :)

She had a plan right from the start...
 

Funny/True statement.
Daughter has been around the cars since born.
When she was about 6 or 7 years old she said something to the effect how she can't wait to drive the LeMans, I laughed and said she would never.
She then in all seriousness blurts out you'll be to old to stop me :eek:
So clearly she had/has a plan and I guess no need for me to worry about where it ends up ;)

If you transfer the car to your son's name, you can't keep it secret. He would have to be involved in buying the new license plates, insurance, etc.

As mentioned, an estate planner would be a good idea.

Eric

I guess buried with me.

Since my son isn't a car guy I put mine in my will to be sold buy a knowledgeable person designated by me and proceeds donated to Cancer Research.. I would think some of my buddies would step in an help him liquidate the parts at a decent value..
Otherwise...I won't care..;)

They will probably sell the parts for pennies on the dollar and what isn't sold I'm sure would be scrapped. Kids aren't very interested in cars.