Automobiles. Whether you’re a collector or someone who just uses them to get from Point A to Point B, they are a valuable asset. As with all property, cars will be handed down to someone after you pass away. One way to do this is using the Arizona DMV Beneficiary form.
You can pass on your property in several ways. Writing a valid Arizona Will is just one way. However, the property that’s passed by your Will has to go through probate before your heirs take possession. A beneficiary designation, on the other hand, transfers property to the beneficiaries almost immediately.
It’s located on the DMV website.
You’ll need the information about the car, including the Vehicle Identification Number, the year, and the make. Example: 26X3679YZA013L, 2008, Ford.
Then list one or more beneficiaries. Note that you must be the only owner of the car, but you can split the interest between several parties. Include the beneficiary’s first, middle, last names, and suffix if any. The date of birth is optional, but legal status is not.
OR – This creates a joint tenancy where all beneficiaries are named on the title. Transactions involving the vehicle only require the signature of one owner.
AND – This selection creates a tenancy in common. All names appear on the title, but all owners must also sign documents involving the car. The car will have to pass through probate or by filing a Non-Probate Affidavit.
AND/OR – This selection also creates a joint tenancy, but with rights of survivorship. All names will appear on the title with AND/OR between them. Signatures of all parties are required. However, if one party dies, the other party has authority to sign along.
You’ll sign before a notary public OR an MVD agent. This is important. The form will be rejected if it is not properly signed.
Staple the form to the current title and take it to an MVD office. After paying the fee, you’ll receive a new title with the beneficiary information listed on it. Keep the new title with your other estate planning documents.
Everyone has an estate. Everyone should have a plan for how that estate will be handled after they’re gone.
At the Keystone Law Firm, we help clients answer the question, “What would happen if I didn’t come home today?” Call us at (480) 418-8448 to discuss your concerns with an experienced Arizona lawyer. We also offer free seminars or check out one of our free seminars. We offer services for clients throughout Arizona, including Chandler, Gilbert, Sun Lakes, Tempe, Phoenix, Mesa, Scottsdale, and Apache Junction.
Author: Francisco Sirvent - Keystone Law Firm I graduated from the University of Arizona in 2001 with a B.S. in Biosystems Engineering, first in my class. I then entered the legal profession as a law clerk in 2002 and pursued a law degree at Arizona State University, completing the degree in 2006 as one of a handful of students who also obtained a Certificate in Law, Science and Technology. I led the Elder Law Pro Bono project and Christian Legal Society student chapters, and then interned at Arizona Technology Enterprises. I now run a law firm in Chandler Arizona dedicated to helping Arizonans with their Estate Planning, Probate and Family Law needs.
"I was very impressed with the professionalism and knowledge of all the staff I met with during my four office visits. The staff is extremely friendly and more than willing to make the process as easy as possible. I would definitely refer business their way because I know first hand they are eager to make sure my living trust was done properly. Thank you all for your help."
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