Any vehicles you own outright should be transferred to your Living Trust to avoid probate. This includes automobiles, motorcycles, boats and recreational vehicles like RVs, quads, boats and wave runners.
This is very easy to do! Simply locate the vehicle's pink slip and write on the back of it the words TOD followed by the name of the trust or other beneficiary pursuant to California Vehicle Code 4150.7.
TOD means transfer on death. It is a common way to pass property upon death avoiding probate.
Say your Living Trust is named John and Jane Smith Revocable Trust dated January 1, 2006. To transfer your vehicle to your Living Trust, write TOD John and Jane Smith Revocable Trust dated January 1, 2006. This means that upon your death your vehicle(s) will be distributed according to the terms of the Living Trust.
If you do not have a Living Trust, then you can write TOD followed by the name of a loved one that you want to receive your vehicle upon your death. This will also avoid probate.
If you do not own your vehicles outright then this procedure does not apply.
What can be done to transfer encumbered vehicles to your living trust? Are they simply re-registered to you as Trustee of your living trust?
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