Monday, May 16, 2011

NEET Tips

NEET Tips answers questions posed by visitors to the NEET website

Does a vehicle have to go through probate in Vermont?

There are several ways for vehicles to avoid the probate process in Vermont. One of the more common methods is to ensure a vehicle is jointly owned, so that upon the death of one owner, title to the vehicle automatically passes to the surviving owner(s). If a vehicle is owned by an individual, a recent law change allows a Transfer on Death (TOD) designation to be added to the vehicle’s title. Under this arrangement, upon the vehicle owner’s death, the vehicle can be re-registered in the name of the TOD beneficiary without having to pass through probate first. Finally, a vehicle can be placed in a trust, although this approach is generally not advised given the simpler approaches above.

For more information on vehicles and probate in Vermont, see the NEET article:

New Law Allows Vehicles to Pass Probate Free