Hi everyone,
My mom is unable to drive and her memory is getting much worse so I am hoping to transfer her car ownership to a cousin a few hours away who could really use it.
I’m POA and mom, cousin, and I live in CA. Any info or pitfalls to avoid on how to go about this?
Definitely not selling for $ nor keeping it for myself ( my own car is a beater lol ) as this keeps me out of the hot seat from any other greedy relatives looking to skewer me for any perceived infraction ...plus it feels really good to give a car to someone who deserves it!
Thanks!
PS: Mom never ever got a ticket or was in an accident!! Drove all over the country and not too slow or overly cautiously either. Best driver and navigator I knew up to age 82 :)
The car was older and had a Blue Book value that was NOT accurate for its condition. It had been in an accident, yada yada. The kind of car you had to call AAA to get it moved. Nevertheless nephew wanted it & actively asked for it. Then abt 4 yrs later mom goes into a NH & applies for Medicaid. The auto transfer red flags her application. I was able to get her old mechanic to do a valuation in detail on it to show why it’s Blue book was completely off as mom kept all receipts thankfully. The $ difference was way under the 2k in assets allowed for individual LTC Medicaid application so basically was a wash for Medicaid. Not an issue as there was verifiable documentation as to valuation.
In talking with moms caseworker on this small drama, he told me that we were lucky that what happened for my mom turned out ok but that what often happened would be that the car would be donated to a charity and they would actually get a highest value tax write off and that actually is problematic should Medicaid get applied for years later. It’s gifting of an asset. FUN!
It was something that never ever would have occurred to me to be something that would bite mom in the butt for being charitable. It kinda needs to get sold as close to its accurate Blue book value is my suggestion.
I wish things weren’t so complicated, geez...really appreciate the head’s up
Does this car have any value?
Is your mom able to authorize the transfer the title to the cousin? If mom is competent enough she could just transfer it in most cases, checking with an elder law attorney would be best. Many offer a free consultation. If you can find a CELA (certified elder law attorney) you may be better off, but a elder law attorney should be able to help.
BEST wishes.
What is the value of the car?
A $500 car may be overlooked. A $5,000 car may be a Medicaid lookback issue.