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Why Joint Ownership on Vehicles Can Be a Good Thing

wills Mar 27, 2019

We recently had a client call our office looking for help. The client stated that her husband had passed away 3 months ago and did not have a Will. She was calling because they owned some collector vehicles that had a considerable value, and when she went to transfer the insurance into her name, the insurance company refused to do so because she was not the registered owner of the vehicle. When she contacted the local Registry Agent, she was told that the only way they would complete the transfer is with a death certificate and a copy of the Will.  In the alternative, she was told a letter from a lawyer stating that she was the rightful beneficiary would suffice. Our office had never met her or her spouse, so we were unable to provide this letter and would have had to move forward with a Grant of Administration application. All this stress on the spouse could have been avoided if her spouse had written a Will, or alternatively, made sure the vehicles were registered in joint names. Next time you are in your vehicle, check the registration to make sure both your and your spouse’s names appear. If you do not have a Will or your Will is out of date, contact our office today (at 780-458-8228). Leave your loved ones with solutions, not problems. It only takes about 4 weeks from start to finish for us to meet with you and create your Estate Planning Documents. Remember, we are here to help!


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