Probate can be a complicated and time-consuming process, especially when it involves something as simple as transferring a car title. At Chesapeake Wills & Trusts, we often see clients tied up in probate just to transfer vehicle ownership. Fortunately, Maryland offers a straightforward solution to avoid this hassle.
Understanding the Problem
One of the common issues we encounter is that cars are often titled solely in the name of the deceased. This means the vehicle must go through probate before it can be transferred to a new owner, which can be both time-consuming and costly. The Maryland Motor Vehicle Administration (MVA) has addressed this issue by allowing car owners to add a beneficiary designation directly to their vehicle title.
Adding a Beneficiary to Your Car Title in Maryland
The Maryland MVA provides a simple way to add a beneficiary to your car title, ensuring that the vehicle is transferred directly to your chosen beneficiary without going through probate. Here’s how you can do it:
- Visit the MVA Website: Go to the Maryland MVA website and locate the section for beneficiary designations.
- Complete the Beneficiary Designation Form: Fill out the form with the required information, including the vehicle identification number (VIN) and the full name and contact information of your chosen beneficiary.
- Pay the Fee: There is a $20 fee for processing the beneficiary designation. You can pay this fee online when you submit the form.
- Submit the Form: Once the form is complete and the fee is paid, submit it online. The MVA will process your request and update the vehicle title to include the beneficiary designation.
Why Add a Beneficiary to Your Car Title?
There are several benefits to adding a beneficiary designation to your car title:
- Avoid Probate: The car can be transferred directly to the beneficiary without going through probate, saving time and legal expenses.
- Simplicity: The process is easy and can be completed online in minutes.
- Peace of Mind: Ensuring your vehicle is transferred according to your wishes provides peace of mind for you and your loved ones.
- Cost-Effective: The $20 fee is minimal compared to potential probate costs.
At Chesapeake Wills & Trusts, we strive to help our clients find the best and most efficient ways to manage their assets. Adding a beneficiary designation to your car title is a simple yet effective way to avoid probate. If you have any questions or need assistance with estate planning, please contact us. Contact us today at 410-590-9401 to schedule a consultation. We look forward to helping you face these important decisions with ease and confidence.