Hit the Road Jack: Navigating Car Ownership in an Estate Without a Will
Unclaimed Auto Inheritance: Determining the Rightful Owner When Deceased Fails to Specify in a Will.
Get the inside scoop on who owns the whip and whether your sibling can drive it with Nathalie Couzigou-Suhas, a sharp-witted Parisian notary, in the lively Money Matters with Marjorie segment on our beloved Money Mastermind (our site / Radio Heritage).
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Every month, our experts - tax specialists, transmission specialists, even notaries like Nathalie - answer your burning questions about your hard-earned dough. Marjorie, a listener, sought answers on car ownership when the succession of their dear old dad just commenced, and her sister got the keys to the family whip.
Now, Miss Couzigou-Suhas isn't here to sugarcoat things, so let's dive in. When it comes to the whip in question, the notary's misson is to slap the law on like a game of billiards and verify the existence of a will. Should none be found, the car is declared a part of the estate, and all heirs, including Marjorie, get to bicker over half a bimmer, figuratively speaking. Hats off to you, Missy, for snagging the right to drive it; but remember, you ain't got mo' rights than Marjorie unless the deceased left a signed and sealed document that says, "I, Daddy-O, declare my beloved daughter-in-law as the owner of my shiny chariot."
In the meantime, ol' Missy can cruise-command the car, but only if both parties agree, and she darn well better make sure it's covered by insurance if she wants to keep on keepin' on the open road.
A Quick Chat About the Rolls Royce of Guardianships
Now, guardianship can be a slippery slope, so Miss Couzigou-Suhas played it cool while discussing Marjorie's gripes about her sister's new title. If guardianship has been appointed, it means a judge of guardianships has selected the kid with the mad skills to handle the deceased's affairs. Normally, Marjorie should've gotten a knock at the door, not a summons to sit and drink champagne, when the nominee was chosen. It could've been the start of a lasting relationship, or it could be a soon-to-expire protection mandate that doesn't require Marjorie's approval before it's implemented.
Ehpad Cash: If You Ain't Got the Dough, Don't Hand it Out
The expert also threw a curveball in the mix, nudging Marjorie to reconsider the funds her parents gave her earlier, as those might be coming up as part of the Ehpad's cost. It's all about the good ol' alimentary obligation - the State tends to believe it's temporary and can be repaid if the funds in the estate are enough to cover it. As for Marjorie, she'd be wise to give the notary handling the estate a ring to clarify the situation and keep those Ehpad collectors at bay.
Gather Yo' Coins: What's the Best Investment for Full Accounts?
Our lovely chatterbox Nathalie fielded another question about investments for folks without a dime to their name. But that's a story for another day. In the wise words of our expert, "Investments are like courting a sweet tender - gotta know when to spend, and when to save."
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Related Reading:
- The Great Savings Bash
- Succession: A guide to handling the mess when someone bites the dust.
- Inheritance: The ultimate how-to for catching the family treasure.
- Divorce: The not-so-sweet-and-sour guide to splitting assets when love turns sour.
[1] Oregon Department of Motor Vehicles. (n.d.). What to Do When a Family Member Dies. Retrieved from https://www.oregon.gov/DMV/ODOT-DMV/Pages/Driver-License-Forms-How-to-Renew.aspx#deceased
[2] Pennsylvania Department of Transportation. (n.d.). Transfer Vehicle After Death. Retrieved from https://www.dmv.pa.gov/Vehicle-Services/Driver-History/Transfer-Vehicle-After-Death.htm
[3] Texas Department of Motor Vehicles. (n.d.). How to Handle a Death in the Family. Retrieved from https://www.txdmv.gov/driver-license/licenses-and-personal-identification/changes-address/how-to-handle-a-death-in-the-family
[4] The Balance. (2023, March 2). Intestate Succession Laws: Rules For Dying Without a Will. Retrieved from https://www.thebalancesmb.com/intestate-succession-rules-for-dying-without-a-will-5095678
[5] AARP. (n.d.). State-by-State Estate Planning Guide: Texas. Retrieved from https://www.aarp.org/money/estate-planning/info-2018/Texas-estate-planning-guide.html
- In the absence of a will, the Parisian notary Nathalie Couzigou-Suhas explained that the car belongs to the estate, and all heirs, including Marjorie, must negotiate over their shares, figuratively speaking.
- Nathalie shared insights on personal finance, stating that investments are like courting a sweetheart – knowing when to spend and when to save is crucial.
- When discussing the matter of car ownership in an estate, Marjorie's sister was granted guardianship rights, and it's essential for her to maintain proper insurance coverage.
- Without a will, the existence of guardianship can be a slippery slope, as appointments may not require the consent of all parties and can be temporary or subject to expiration.
