Q: If a vehicle is used for personal use, but titled through their used car business, is it considered a personal vehicle?
The father passed away in June 2020. His four "personal use" vehicles in his garage are titled through his used car business. One of the vehicles has a value over $25,000. The executor of the will believes that all four vehicles "possibly" belong to the beneficiary that got the used car business in the will? One vehicle was purchased in 1985, one in May 2014, and one in August of 2018. One vehicle, an early model El Camino, has an unknown purchase date. Based on Wills Powers, and Trusts Law §5-3.1 (a) (4), are the sibling beneficiaries entitled to split these four vehicles equally, or does the beneficiary that received the car business get a "windfall" of all four vehicles? It would be preferable to sell all four vehicles and split everything equally. Any assistance would be greatly appreciated. Thank you very much.
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