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Gonzaga University School of Law – Spokane, Washington – Class of 2002 – Cum Laude The Latin phrase “Deo patriae, scientiis, artibus” translates to “For God and country through sciences and arts”. The initials A.M.D.G. on the seal of Gonzaga Law School stand for Ad Majorem Dei Gloriam, which is Latin for “For the Greater Glory of God” the Motto of the Society of Jesus (Jesuits): a Catholic religious order founded by St. Ignatius of Loyola.
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When giving away a motorcycle after you die, whether through a will or a trust, there are several important considerations:
1. Motorcycle Ownership can be transferred by your Estate Administrator with a Certified Copy of your Death Certificate and the Affidavit of Inheritance from the Department of Licensing below :
Loan Responsibility: If there is an outstanding loan on the motorcycle, the beneficiary may inherit the debt along with the title. They will need to pay off the loan or potentially face repossession by the lender.
Estate Funds: The executor of your estate may be able to use estate funds to pay off the loan, or the beneficiary may need to find a way to finance the debt themselves.
Credit Life Insurance: If the loan is covered by credit life insurance, the insurer may pay off the balance upon your death, leaving the motorcycle to the beneficiary free of debt.
3. Maintenance, Costs, and Condition:
Maintenance Responsibilities: The beneficiary will assume responsibility for all maintenance, upkeep, and related expenses, such as registration fees and insurance premiums.
Condition of the Motorcycle: Consider the motorcycle’s condition when making your arrangements. If it requires significant repairs or restoration, the beneficiary may need to incur additional costs.
Communication with the Beneficiary: It’s crucial to discuss your intentions and the motorcycle’s condition with the intended beneficiary to ensure they are willing and able to take on the responsibilities of ownership.
4. Insurance and Liability:
Updating Insurance: The beneficiary will need to update the motorcycle insurance policy to reflect the change of ownership and ensure adequate coverage.
Liability: If you place the motorcycle in a trust, the trust can potentially be liable in case of an accident. It’s essential to name the trust and trustee as insured parties on the insurance policy to protect other trust assets.
5. State Laws and Requirements:
DMV Procedures: Each state has specific procedures for transferring vehicle titles after death, which can vary depending on whether the estate goes through probate.
Tax Implications: Some states may impose inheritance taxes on inherited property, and it’s important to consider any potential tax implications.
Trust Regulations: If using a trust, ensure you comply with the specific requirements for titling vehicles in a trust’s name in your state.
6. Consult with Professionals:
Estate Planning Attorney: Christopher S. Mulvaney can help you draft your will or trust documents correctly and advise you on the most suitable method for transferring the motorcycle to your beneficiary.
Financial Advisor: A financial advisor can help you assess the financial implications of leaving the motorcycle to a beneficiary, including any outstanding loan or debt.
By considering these special considerations and consulting with legal and financial professionals, you can ensure a smooth and efficient transfer of your motorcycle to your intended beneficiary, minimizing potential complications and disputes.
To Always Be a Human Being First, and My Role Second. To First, Do No Harm, then to provide the best legal outcome, smoothest process, best value, and to make a positive difference in the life of every client.
Christopher S. Mulvaney’s Mantra:
May I be filled with loving kindness for all life. May I be safe from dangers within and without. May I be healthy in body, mind, socially, and spiritually. May I be at ease and happy, doing good in the world.
May You be filled with loving kindness for all life. May You be safe from dangers within and without. May You be healthy in body, mind, socially, and spiritually. May You be at ease and happy, doing good in the world.
I am an experienced solo estate planning, debtor bankruptcy, and real estate attorney. At my law firm in Bellevue, Washington between Eastgate and Factoria, I do things a little differently. I am passionate about helping people take control of their lives.
One of my primary practice areas is urgent (bankruptcy), and the other is important, but not urgent (estate planning). Not letting the urgent crowd out the important is key. I have made a choice to include the positive difference I make in the life of each client in how I calculate profit. This means I have higher job satisfaction, and happy clients who confidently give referrals.
My goal is that my work is transformative for people during a challenging time in their lives. At Mulvaney Law Offices, PLLC (MLO), you will not find a gatekeeper. There are no forgotten cases hiding on an associate’s cluttered desk. It’s just me, working with each one of my clients one-on-one to resolve their legal concerns as favorably as possible.
As your lawyer, I will personally handle every aspect of your case. My office is not a factory churning out thousands of filings per year, where each case matters little. You, and your case, matter to me. You can see what clients have said about me, and leave your own reviews at these links.
Mulvaney Law Offices, PLLC is located in Bellevue, Washington, representing estate planning & chapter 7 and chapter 13 bankruptcy, clients in all 39 Washington Counties.
Washington State residents can meet with me in Zoom/DocuSign from anywhere in the world, and I can notarize their electronic signatures because I am a remote online notary. Just email me an image of your photo ID.
