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Message
car donation to son advice
Posted on 9/16/25 at 11:13 am
Posted on 9/16/25 at 11:13 am
Would like to give my 17-year-old car to my son who is in college in another state and just wondering what all the ramifications would be to get that done.
7
Posted on 9/16/25 at 3:35 pm to Cajun75
My dad gave me his truck in college. Went to the notary and it was processed as an act of donation. Easy process.
Posted on 9/16/25 at 3:48 pm to Cajun75
quote:
and just wondering what all the ramifications would be to get that done.
None. Do an act of donation. If it's worth $19k or less, yay, you're done. If it's worth more than $19k but less than $38k and you and your wife own the car jointly, yay, you're done.
If it's worth more than those numbers, you're not done, but it's not a big deal. Fill out and file an IRS Form 709. As long as you die with an estate smaller than about $19MM, you're gravy.
On the off chance you die with an estate larger than that, the value of the vehicle will be taken into consideration in calculating the estate tax.
Posted on 9/16/25 at 3:59 pm to TheBoo
Wow, sounds easy enough! So the notary has everything that's needed? Does the plate need to be changed at the DMV? Car is probably only $2,000 or less book value I would imagine.
This post was edited on 9/16/25 at 4:01 pm
Posted on 9/16/25 at 4:30 pm to Cajun75
I don't recall about the plate. Just bring the title and the son and the notary will process what's needed and include "act of donation" in the bill of sale. Present that and the title at the DMV for the registration. I wish I could be more specific, but it was 20 years ago and the process was extremely unmemorable. Signed the papers at the notary down the road, took them to the DMV the next day, walked out with a truck in my name.
Posted on 9/16/25 at 6:15 pm to Cajun75
Search for Louisiana Act of Donation of Movable, and a PDF donation form will be in your results. Be sure to fill in the parts about the relationship between the parties. No sales tax in Louisiana on donation between immediate family members (such as father to son).
Do you have the title? You'll need that too. Probably need to fill out some of the stuff on the back in front of a notary.
He'll probably need to show proof of insurance on the car to get it titled to him. If he is taking over insurance with his own policy, don't drop the car from your policy for a few days after he gets his paperwork in place. If there is a gap in coverage, OMV has been known to screw people with fines. A new law may have tried to remedy this, but don't take a chance.
You'll want to complete the online Notice of Transfer on the Louisiana OMV website. You used to have to take the license plate off and turn it in in person, but now you can do it online.
Do you have the title? You'll need that too. Probably need to fill out some of the stuff on the back in front of a notary.
He'll probably need to show proof of insurance on the car to get it titled to him. If he is taking over insurance with his own policy, don't drop the car from your policy for a few days after he gets his paperwork in place. If there is a gap in coverage, OMV has been known to screw people with fines. A new law may have tried to remedy this, but don't take a chance.
You'll want to complete the online Notice of Transfer on the Louisiana OMV website. You used to have to take the license plate off and turn it in in person, but now you can do it online.
Posted on 9/16/25 at 6:53 pm to Joshjrn
quote:
If it's worth more than $19k but less than $38k and you and your wife own the car jointly, yay, you're done.
Aktually...
Thought you still need to file a gift tax return if you do a split gift?
OP: just give the damn car to your son. The IRS isn't coming after you. Just make sure your name isnt on the title. Just give it to him
This post was edited on 9/16/25 at 6:54 pm
Posted on 9/16/25 at 7:08 pm to TheOcean
quote:
Aktually... Thought you still need to file a gift tax return if you do a split gift?
I honestly don’t know. Hopefully someone around here does
Posted on 9/17/25 at 7:41 am to Cajun75
What’s your rationale for formally putting it in his name? Just curious, I “gave” my college student a car but kept it in my name.
Posted on 9/17/25 at 8:11 am to LSUfan20005
quote:
What’s your rationale for formally putting it in his name? Just curious, I “gave” my college student a car but kept it in my name
I just wanted everything to be legal, but really not sure what the pros and cons of both situations would be. As I mentioned, he's currently living and attending school in another state, but is still considered a resident here in Louisiana. He will also be getting married next summer. If it's not going to cost anything as far as taxes to transfer it to his name, that seems like a good option. Would the auto insurance cost be the biggest factor as he is currently 20 and would have to get his own policy as opposed to keeping the car in my name and just adding him on coverage to my policy?
Posted on 9/17/25 at 8:20 am to Cajun75
it is simple. Just fill out the bill of sale/title properly and give him the title. Your state will have guidance on how to fill it out but you usually just put "gift" in the sale price.
Posted on 9/17/25 at 9:26 am to Cajun75
OP, you're getting plenty of advice on the transfer of vehicle.
How will you and your son deal with insurance coverage as he'll be driving in another state? Also registration,
I used a personal truck from Texas while working in Arizona. Texas registration expired but I never registered in AZ. Texas allowed 1 year non-registered vehicle with no penalty. Once I returned to Texas I immediately registered within the year, No penalty.
Maybe not an issue if son takes complete ownership. Except, you may have to slip him a few thousand from time to time for bills.
How will you and your son deal with insurance coverage as he'll be driving in another state? Also registration,
I used a personal truck from Texas while working in Arizona. Texas registration expired but I never registered in AZ. Texas allowed 1 year non-registered vehicle with no penalty. Once I returned to Texas I immediately registered within the year, No penalty.
Maybe not an issue if son takes complete ownership. Except, you may have to slip him a few thousand from time to time for bills.
Posted on 9/17/25 at 3:18 pm to Victor R Franko
quote:
How will you and your son deal with insurance coverage as he'll be driving in another state?
Will have to check to see how the cost of inuring it under his name compares to leaving it in my name and adding him onto the coverage, if I can even do that since it will be located in another state(FL) other than a few days around Thanksgiving and Christmas when he's back home. As I mentioned, he's still a resident of LA since I still claim him on my taxes, but that will probably change next year once he's married.
Posted on 9/17/25 at 3:47 pm to LSUfan20005
quote:
What’s your rationale for formally putting it in his name?
Something to consider is protection from a judgment. Say your college kid owns and insures the car, gets in a wreck, and is sued. They won't have many assets for a lawsuit to target. Presumably, a 50 year old parent would be a juicier target for a lawsuit. But I'm not a lawyer, so ask an expert before swapping names on a title.
Posted on 9/17/25 at 5:00 pm to FortunateSon
The liability and risk mitigation is the primary reason to put the car in his name, as a previous poster mentioned. I had a friend who has a daughter that was involved in a wreck in Boulder, CO and the judgement was significant. The next week I bought a personal liability umbrella policy, based on his experience.
This post was edited on 9/17/25 at 5:16 pm
Posted on 9/17/25 at 6:33 pm to Cajun75
Good job getting other people to do all the legwork Huck.
I would have told you to Google it dumbass.
I would have told you to Google it dumbass.
Posted on 9/17/25 at 6:36 pm to Thebuzz
I'm not sure he could even get insurance on his own in FL after the transfer without being a resident of FL, which would require him to change his DL, car tag, etc., which would probably run about $500. Since I'm still claiming him on my taxes as a LA resident, I can't see that happening until next year. Will have to get some clarification from an auto insurance agent.
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