[F ROCK]

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.

[Ben M.]

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.

[John Eiseman]

Originally Posted by Ben M.

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.

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.

[Stuart]

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.

[400 4spd.]

Ask your attorney/estate planner.

[goatless]

Originally Posted by 400 4spd.

Ask your attorney/estate planner.

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.

[don71]

Originally Posted by 400 4spd.

Ask your attorney/estate planner.

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.

[marxjunk]

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

[Ron Landis]

Originally Posted by marxjunk

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

I sure appreciate it, Brother! BTW...how ya feelin'? I DID have a friend with two '66 SS 396 Chevelles....one black/black...other one red/red...both 4-speeds...both low mile garage kept cars that he and his brother bought new. Another friend asked him to will one to him and his response was "There's somebody else who won't be getting one of them!" I guess his son-in-law had asked him the same thing days earlier and he officially wrote him out of the will.
My '64 is going to my grandson or possibly my nephew...since my son has two '64's of his own.

[nashcar]

Originally Posted by marxjunk

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

How are things Mark, it's your old friend Steve!

[salem1912]

Originally Posted by marxjunk

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

Hi buddy just checking to see how your doing.

[wheelspin]

Faced with the inevitability that I will someday reach the point where I am no longer able to care for my classic Pontiacs (I'll be 77 next month), I discussed this subject with my 4 adult sons. Only two of my sons have any interest in owning the two remaining cars. Best of all, the primary reason that they would like them is to have a car that their father hand-crafted, raced and drove cross-country, and who is currently performing a few tweaks in order to suit their future owners and environments.

As Ian pointed out, equal distribution of my estate proceeds between my 3 sons and Sharren's son is very important. We already have a irrevocable trust/pour-over will to which I added an amendment stating that the two sons who will receive the cars shall each have their shares of the trust reduced by $25,000 (arbitrary value of the cars). Furthermore should my wife require the value of the cars during her lifetime the boys are to pay her the $50,000 which would then restore their full shares in the trust.

All of the stock parts required to return these highly modified cars to stock are stored in inventoried tubs that go with the cars.

[yumpy]

Thanks for the info on the T O D. Didn't know you could do that. My long time g.f. doesn't have much interest in my Trans Am as it is too hard for her to get in and out of. I suggested that she give it to her daughter as she has all ways liked the car. Plus it runs a lot better than the ratty 68 Camaro she bought last year! I also suggested she sell it and use the money for property taxes. She'll need it with us living in New York. Now I have to figure out what to do with the unfinished 81 TA and 55 f-100. Time to get my butt in gear.

[captain42082]

Originally Posted by marxjunk

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

hello friend!

[Jeff Hamlin]

http://marvin-the-mortician.blogspot...1_archive.html

[David Jones]

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

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

[fyrffytr1]

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.

[fiedlerh]

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

[Old Man Taylor]

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.

[dataway]

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