Q: In California, the DMV has their own specialized small estate affidavit form. However I'm a bit confused about this part
Example: My friend's dad's car was solely owned in his name, and no beneficiary was designated in the title, but the friend is a beneficiary in his will. However for small estates the gross value has to be below $166,250, yet cars are excluded from determining the value for this kind of estate? So what I want to know, if I'm understanding this correctly:
1. Concerning DMV's affidavit, if real property is involved but it is above $55k but below $166k, would you still be able to use the DMV affidavit but include an Inventory and Appraisal form?
2. Is the exclusion of cars, regardless of ownership (joint/sole), only applicable to small estates (including real property above or below $55k but below $166k)?
3. Specifically what kind of vehicle registration are the Vehicle Codes referring to? (This may be tied to question 2)
I hope this makes sense.
A:
There are a variety of methods to transfer assets post-mortem, including trusts, wills, intestacy, beneficiary designations, etc.
The DMV provides a method of transfer that is specific to vehicles.
Jonathan Purcell is a California Attorney. This posting does not create any attorney-client relationship. The information presented here is general in nature and is not intended nor should be construed as legal advice for any particular case or client. For specific advice about your particular situation, please consult with your own attorney. This posting is not intended to constitute an advertisement or a solicitation.
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