If have an auto loan for a car that is in my name but someone else pays for it and they drive, what should I do to make sure that if I die they will get the vehicle?

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If have an auto loan for a car that is in my name but someone else pays for it and they drive, what should I do to make sure that if I die they will get the vehicle?

I don’t want it to go to my estate.

Asked on April 26, 2013 under Estate Planning, Colorado

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You put in a will that you are willing your vehicle to this person as a bequest. If the person dies before you, the gift will go into the residuary clause of your will or it will fail. You cannot simply give it away now to avoid it going to the estate. A will can do many things. So can a trust. You should discuss this with an estate planning attorney about your next steps.


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