Estate Planning

Vincent Averaimo • September 10, 2013

When planning your estate, don’t forget the car.

New developments from the Connecticut DMV can help make your estate planning a bit easier. We also want to update you on new developments and services within our firm.

When Planning Your Estate, Don’t Forget the Car. The number one item people forget about in an estate is the car. Many times, everything else is left to the deceased person’s survivors, but the car is forgotten. In order to have the car transferred to the proper person, a surviving family member must go through the probate process – the court process by which assets are devised to heirs in an estate. The cost of probate court depends on the size of the estate. The expense of this process may outweigh the value of the car.

New DMV Regulations Help to Make the Transition Smoother. The Connecticut Department of Motor Vehicles has helped to make this process a bit easier. The state provides for transfer on death or TOD Registration, for new vehicles.

When registering, an automobile owner can designate a beneficiary on the registration form. Upon death this will be treated in the same way as a recipient of a life insurance policy. It will pass outside of probate and the court process can be avoided. The process will repeat every two years with a new auto registration.

When the owner passes away, the designated beneficiary can take the registration to DMV within 60 days of death, along with personal identification and the death certificate. The DMV will issue a new registration and title, and there will be no need of Probate Court intervention.

Let Us Help You With Your Estate. Kapusta, Otzel & Averaimo counsels its clients in estate planning as well as representing individuals in the Connecticut Probate Courts. We are happy to discuss the best way to structure your estate and your will, as well as your plans to be sure that your wishes are carried out upon your death. If you would like more information or are in need of a representative, call our office for a no-obligation consultation. Why leave it to chance?

New Services Now Offered Through Kapusta, Otzel & Averaimo. Kapusta, Otzel & Averaimo is now approved to handle and is currently accepting Fannie Mae and Freddie Mac files for representation in default-related services, including foreclosures, bankruptcy, evictions and REOs. If you are looking for someone to represent you in one of these cases, call our firm today. We look forward to assisting you.

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