Do I Need a Vehicle Transfer on Death Designation in New York?

Because New York does not offer a vehicle TOD designation, the vehicle transfers through: Exempt-property transfer to a surviving spouse or minor children under EPTL 5-3.1: one motor vehicle not exceeding $25,000 in value passes as exempt property to the surviving spouse (or, if none or the spouse is disqualified, to the decedent's children under the age of 21) without estate administration. The recipient transfers title at the DMV using a notarized Affidavit for Transfer of Motor Vehicle (form MV-349.1) together with the assigned title or transferable registration and a copy of the death certificate. If the vehicle exceeds $25,000, the spouse or children may still acquire it by paying the estate the amount by which the value exceeds $25,000., Next-of-kin transfer (no spouse or minor children, no will to be probated, and no Letters Testamentary/Administration secured): next of kin may transfer one vehicle valued at $25,000 or less using the Transfer of Vehicle Registered in Name of Deceased Person (form MV-349) with the assigned title or transferable registration and a copy of the death certificate. This form may not be used if the vehicle exceeds $25,000 or if there is more than one vehicle., Estate administration through Surrogate's Court for vehicles exceeding $25,000, multiple vehicles, or estates that do not qualify for the EPTL 5-3.1 exempt-property path: the appointed executor or administrator transfers the vehicle by signing the title in that capacity, and submits a copy of Letters Testamentary, Letters of Administration, or a voluntary administrator's affidavit from the Surrogate's Court.. To keep other assets out of probate, SimplyTrust sets up a revocable trust online.

Without a vehicle TOD option, a New York vehicle typically passes through the estate unless it is jointly titled or held in a trust, or qualifies for a small-estate transfer. Compare your options with the trust vs. will comparison.