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How to add a beneficiary to your vehicle’s title

Maybe you’re concerned that a loved one has unreliable transportation. Perhaps you simply want to keep your prized car that you rebuilt the engine for in the family after your passing. These are two great reasons to put a vehicle in your trust.

While some states treat the transfer of a vehicle through a trust as a sale and tax the beneficiary, Arkansas does not. Naming a beneficiary for your vehicle is as simple as filling out a form but here’s what you need to know:

  • The vehicle must not have an outstanding loan. If you’re not making payments to a financial institution, you’re eligible to add a beneficiary to the vehicle’s title.
  • Your beneficiary must not be a business, firm, corporation or any other legally-recognized entity.
  • You may only add a beneficiary to a title that has three owners or less listed.

Making it legal

If you’ve paid off your vehicle and your beneficiary isn’t some form of a business, you can add them to the title as a beneficiary. All you need is the beneficiary’s full name, address and social security number.

Should the vehicle’s title have multiple owners, you may need everyone’s signature or just one signature. The number of necessary signatures varies on how the titles lists the owners and the law may require each owner to sign off on the beneficiary.

Leaving your vehicle to a loved one is a thoughtful and generous decision. Fortunately, Arkansas makes that process simpler than some states.

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