Q: Should I let my mom's 100 or so junk vehicles go through probate or should they be re-titled to her Trust?
My mom has roughly 100 non-running or junk vehicles that are titled either to her or one of her closed businesses. Before she passes, should I re-title them in the name of her Trust, or should I let them go through probate? The only value they will have to me is most likely scrap value.
A: You could put them in her trust. You could also put them in your name now. It just depends which is easier; especially when you consider that each title fee will be charged 100 times. I suggest doing something now rather than letting them go through probate.
A: If your mother has the certificates of title for the vehicles, she should sign her name in the release of seller's interest on the back side of the titles. Once she signs a title, keep it in a secure location. After (or before) your mother passes, you can transfer ownership of the vehicle by giving the buyer the signed title and adding the date of the sale to the title. Sale proceeds should be treated as trust assets.
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