During a recent meeting with a client and their attorney, I discovered there is an option available through the MVA to add a beneficiary to a Vehicle's Title. It is a rather newer option and is not well known to the general public.
In the past, a individual's car would go through probate when they passed away. This results in estate taxes and a general headache for the individual's family. Through this newer feature, an individual can help minimize their estate by naming a beneficiary.
This is just one of the many factors that one should be reviewing with their lawyer and investment counsellor during estate planning.
In the past, a individual's car would go through probate when they passed away. This results in estate taxes and a general headache for the individual's family. Through this newer feature, an individual can help minimize their estate by naming a beneficiary.
This is just one of the many factors that one should be reviewing with their lawyer and investment counsellor during estate planning.
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