Colorado’s Vehicle Transfer on Death Law
Colorado’s vehicle transfer on death law allows ownership of vehicle to pass to the beneficiary outside of probate, giving individuals the ability to transfer their cars or vehicle to a beneficiary on the death of the owner.
Since cars and other vehicles need to be maintained, and they depreciate rapidly, it does not makes sense to have them sitting around for months or even a year in Colorado weather, while waiting for probate to end. Vehicles should be transferred to their new owners as soon as possible. Colorado’s new law allows cars, RVs, or motorcycles to be transferred quickly and easily. This form avoids placing cars and other vehicles in probate.
Get The Form
Here is a link to the Colorado Transfer of Title Designated Beneficiary Form. Fill out the form COMPLETELY, have it notarized, and keep it with all your other estate planning documents. Your beneficiary will take it to the DMV, along with your death certificate, and an Application for Title and/or Registration. It’s that easy.
Joint ownership of the vehicle is not destroyed with this form. Rather, it goes into effect after the surviving joint owner dies. If jointly titled it’s a good idea to communicate with each other and decide who should be the beneficiary. Only one beneficiary should be named.
Tip: To ensure there’s no confusion, the same beneficiary should be listed twice. Once in your Transfer on Death designated beneficiary form, and once in your Personal Property Memorandum in your will. Caveat: You cannot revoke the beneficiary designation by leaving the car to someone else in your will or living trust. The courts will not enforce an oral promise.
Please contact me if you would like more information about moving assets out of probate, contact my office at (303) 900-2529 or email me at firstname.lastname@example.org for a free consultation.
This article is for informational purposes only and does not constitute legal advice about your case or situation. There may be exceptions to the information outlined above. Please consult an attorney if you have specific questions about your vehicles and your estate plan.Follow me on social media: