Legal Question in Wills and Trusts in Florida
I have a revocable trust. I want to purchase a car for my sister, but keep ownership.
What is the best way to achieve this? If I put it in the trust, it becomes vulnerable if she is sued after an accident. Should i keep ownership in both our names without naming the trust?
Any help would be greatly appreciated. Thank you
Asked on 5/30/17, 8:00 am
2 Answers from Attorneys
DMD PA
DMD Law, PA
If you keep it in both names, then if she is in an accident, then you are liable.
Answered on 5/30/17, 8:23 am
Barry Stein
De Cardenas, Freixas, Stein & Zachary
Your trust agreement controls how purchases are made. You should have insurance on the vehicle to protect all owners.
Answered on 5/31/17, 12:08 pm
Related Questions & Answers
-
Does a will have to be recorded in Florida before death Asked 5/22/17, 9:39 am in United States Florida Probate, Trusts, Wills & Estates
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
