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Message
Vehicle Title Question - Inheiritance -
Posted on 12/7/14 at 3:29 pm
Posted on 12/7/14 at 3:29 pm
I have a question about titling vehicles. My mom just bought us a new truck so technically the truck is part of my inheritance (she is giving our inheritance while she is alive). I let my husband (call him Joe) pick out the truck he wanted since I didn't care one way or the other.
But the titling of the truck is the weird thing. Mom said to have it titled in "Joe or Ginger Kittie" so that in the event either of us die, the other owns it outfight free and clear.
But the title lady says we can only put it in "Joe and Ginger Kittie" so that it would have to go thru probate or whatever the hell happens when people die.
My husband and I both came into the marriage with inherited property, family property and do not have mutual children. Therefore we want to keep our properties separated to make it easy on our kids.
So how should we title the truck?
But the titling of the truck is the weird thing. Mom said to have it titled in "Joe or Ginger Kittie" so that in the event either of us die, the other owns it outfight free and clear.
But the title lady says we can only put it in "Joe and Ginger Kittie" so that it would have to go thru probate or whatever the hell happens when people die.
My husband and I both came into the marriage with inherited property, family property and do not have mutual children. Therefore we want to keep our properties separated to make it easy on our kids.
So how should we title the truck?
This post was edited on 12/7/14 at 3:48 pm
10
Posted on 12/7/14 at 3:33 pm to gingerkittie
Tons of issues in your post.
Are you in Louisiana?
Do you/hubby have a sep prop agreement?
No one's receiving an inheritance here, if I'm understanding your post correctly.
Someone is, however, receiving a gift.
Assuming the gift is a new truck/worth about 30k, it's a "reportable" gift.
What's your mom's intent? Buy you a truck, buy Joe a truck, or just get money out of her estate/doesn't care who gets the gift?
Are you in Louisiana?
Do you/hubby have a sep prop agreement?
No one's receiving an inheritance here, if I'm understanding your post correctly.
Someone is, however, receiving a gift.
Assuming the gift is a new truck/worth about 30k, it's a "reportable" gift.
What's your mom's intent? Buy you a truck, buy Joe a truck, or just get money out of her estate/doesn't care who gets the gift?
This post was edited on 12/7/14 at 3:34 pm
Posted on 12/7/14 at 3:33 pm to gingerkittie
quote:
So how should we title the truck?
Sounds like you don't have the choice you want to have. It is between AND or just you.
Posted on 12/7/14 at 3:36 pm to gingerkittie
Let me be sure I understand...
1. Mom buys truck.
2. Mom lets her son in law pick it out, as he will ultimately drive it.
3. Mom now wants to transfer truck out of her name.
4. DMV is giving you the choice in titling, either jointly, or one of y'all.
What was mom's intent......give YOU the truck, or give Joe the truck. Or, was that never really contemplated?
1. Mom buys truck.
2. Mom lets her son in law pick it out, as he will ultimately drive it.
3. Mom now wants to transfer truck out of her name.
4. DMV is giving you the choice in titling, either jointly, or one of y'all.
What was mom's intent......give YOU the truck, or give Joe the truck. Or, was that never really contemplated?
Posted on 12/7/14 at 3:44 pm to gingerkittie
So much stupid in this thread, so much morbidity
Posted on 12/7/14 at 3:47 pm to gingerkittie
If your mom is buying both of you a truck, then title it in both of your names.
If she is giving you the truck, title it in yours.
YOUR WELCOME
Autocorrected to YOUR, not fixing it. Deal with it.
If she is giving you the truck, title it in yours.
YOUR WELCOME
Autocorrected to YOUR, not fixing it. Deal with it.
This post was edited on 12/7/14 at 3:50 pm
Posted on 12/7/14 at 3:55 pm to TigerTreyjpg
(no message)
This post was edited on 12/20/18 at 2:19 pm
Posted on 12/7/14 at 3:57 pm to CaptainsWafer
Trying to...
Posted on 12/7/14 at 4:01 pm to TigerTreyjpg
This post was edited on 12/20/18 at 2:19 pm
Posted on 12/7/14 at 4:03 pm to Upperdecker
(no message)
This post was edited on 12/20/18 at 6:06 pm
Posted on 12/7/14 at 4:11 pm to gingerkittie
Your mother should be able to do a act of donation. Go to TTL place and tell the dmv to frick off.
Posted on 12/7/14 at 4:18 pm to gingerkittie
quote:
I didn't want one so I told her Joe needed a new heavy duty truck (7.3 diesel) for the farm and towing).
They haven't made a 7.3 diesel since 2003 fwiw
Posted on 12/7/14 at 4:20 pm to gingerkittie
My apologies then, clearly its an unusual circumstance
Posted on 12/7/14 at 4:24 pm to yellowfin
(no message)
This post was edited on 12/20/18 at 2:18 pm
Posted on 12/7/14 at 4:25 pm to gingerkittie
Your name only.
If anything ever happens in your marriage, titling it in both your names will indicate that it was a joint gift -- basically making it community property.
I would also do an act of donation to make sure that it is considered YOUR separate property.
If anything ever happens in your marriage, titling it in both your names will indicate that it was a joint gift -- basically making it community property.
I would also do an act of donation to make sure that it is considered YOUR separate property.
Posted on 12/7/14 at 5:57 pm to gingerkittie
(no message)
This post was edited on 12/20/18 at 2:18 pm
Posted on 12/7/14 at 6:50 pm to gingerkittie
(no message)
Posted on 12/7/14 at 7:09 pm to gingerkittie
It's considered a gift. Your mother can gift you $14k tax free per year. Anything more than that and it will have to be reported. I'm assuming truck costs more than $14k.
I'd just title the truck in your name to avoid all kinds of other legal issues. Your husband would still be able to use it as if it was his
I'd just title the truck in your name to avoid all kinds of other legal issues. Your husband would still be able to use it as if it was his
Posted on 12/7/14 at 7:28 pm to gingerkittie
Have you and or her decided what to do with her body?
You might want to make it clear, hire a lawyer or somebody.
I have seen situations where it's all confused and nobody is sure what to do.
You might want to make it clear, hire a lawyer or somebody.
I have seen situations where it's all confused and nobody is sure what to do.
Posted on 12/7/14 at 7:35 pm to gingerkittie
Get a lawyer and don't ask about this shite on the OT
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