Arizonans can hold title to a vehicle your name, in joint names or in the name of your revocable living trust. Which should you use?
As it happens, it’s easy to transfer title to a vehicle after your death. Married couples often hold title in “or” form (e.g.: John or Mary Doe). That amounts to the same thing as joint tenancy. Either John or Mary can transfer the title, and either can transfer title after the death of the other.
But even if there is only one name on the title, most vehicles can be collected by a simple affidavit of collection. That simplified method works in Arizona for up to $200,000 of personal property.
Arizona even permits a “beneficiary designation” for vehicle titles. You can download the form on the Arizona Department of Transportation’s Motor Vehicle Division website and simply attach it to your vehicle title.
So should you transfer title to your vehicle(s) to your trust? Mostly we think it’s more trouble than it’s worth. But join us for our podcast and we will explain more fully.
Keep in mind that we are Arizona lawyers, and we’re explaining Arizona law and process. In other states, well, your mileage may vary.
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