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Isaac-1 · 01-25-2021, 03:56 PM

I recently had an in person conversation with someone who had somewhat unexpectedly inherited a motorhome (a 15 year old Super C, though that it irrelevant to the topic). Anyway this brought up me thinking about estate planning when it comes to wills, RV's and any other instructions to leave ones loved ones and heirs.

So while I have no plans of needing to deal with this anytime in the near future, I thought it would be nice to know your thoughts on such matters, in my case I am almost certain that my wife and son would never consider driving our motorhome (I have been trying to get my wife to learn to drive it since we bought the current coach in 2016). Which leaves what, instructions to give it away to a friend that might use it, sell it, if so leave instructions on where and how (consignment dealer like PPL, etc.)

What do you think, have you put anything in place in your will, letter of instructions, etc.? Does your decision depend on if the RV is paid off or not, ...

PS56 · 01-25-2021, 04:06 PM

Quote:

Originally Posted by Isaac-1

I recently had an in person conversation with someone who had somewhat unexpectedly inherited a motorhome (a 15 year old Super C, though that it irrelevant to the topic). Anyway this brought up me thinking about estate planning when it comes to wills, RV's and any other instructions to leave ones loved ones and heirs.

So while I have no plans of needing to deal with this anytime in the near future, I thought it would be nice to know your thoughts on such matters, in my case I am almost certain that my wife and son would never consider driving our motorhome (I have been trying to get my wife to learn to drive it since we bought the current coach in 2016). Which leaves what, instructions to give it away to a friend that might use it, sell it, if so leave instructions on where and how (consignment dealer like PPL, etc.)

What do you think, have you put anything in place in your will, letter of instructions, etc.? Does your decision depend on if the RV is paid off or not, ...

It's just another thing. You have many options. You can give it a charity or sell it and include the money in your estate and let the money go where you want.

Charming · 01-25-2021, 04:15 PM

If you and your spouse are in the process of writing your wills, ask her just as you would about any other vehicle you own.

TonyMac · 01-25-2021, 04:27 PM

If I were married, everything of value goes to the spouse. My father's Marine Officer's sword, and other items of little real value but high sentimental value, might be assigned to an heir. But my spouse needs assets to go on living a hopefully long happy life. All other heirs can wait.

In her will, she should do the same. If she passes before me, I redo my will as I choose with her wishes in mind. When I pass first, she redoes her will as she chooses.

twogypsies · 01-25-2021, 04:49 PM

Leave to your wife and let her choose what to do with it. If you get sick or decide to stop RVing before the time the problem is solved. You dispose of it.

Dutch Star Don · 01-25-2021, 05:06 PM

It's just a piece of property like a sofa, car, gun, refrigerator etc. Your spouse will deal with it how they see fit.

RoadEyePie · 01-25-2021, 05:21 PM

What Dutch Star Don said. We just completed new Wills and a Revocable Family Trust and the RV is no different than the china cabinet. Surviving family will sort through it, keep what they want and sell the rest. That is unless you specify that you want it buried with you in it.

Isaac-1 · 01-25-2021, 06:07 PM

We have wills, though we should update them, I had a bit of a health scare 10 years ago though everything turned out ok, but before going in for a surgery with a dice roll chance of not waking up I had a lawyer draw up a will. It has the typical default of all other un-listed property goes to my wife. I just sort of feel including my feelings on it, perhaps suggestions on how to go about selling (ie about how much money to expect, names of a couple of consignment dealers, etc.), or leaving it to some fringe relative might be in order. (the RV amounts to less than 5% of our net worth)

egwilly · 01-25-2021, 06:30 PM

My wife and I created a Living Trust with the help of an attorney that specializes in wills and trusts. We folded the RV and tow vehicle into the trust.

This will greatly assist our administrators of the trust on resolution and make their decisions much easier. My mom left a trust that really helped me after her passing since I was the admin of it.

Something to consider.

twogypsies · 01-25-2021, 10:25 PM

Quote:

Originally Posted by Isaac-1

I just sort of feel including my feelings on it, perhaps suggestions on how to go about selling (ie about how much money to expect, names of a couple of consignment dealers, etc.)

You don't have to put that info in a will. By the time you're gone the RV won't be worth what you put down in writing now.

Some make a detailed "how to/what to do" list on what to do if the other dies. Both should review that list occasionally and update it. It's also good to start now by both of you doing the finances together so the other isn't left in a lurch when the time comes. One needs to know all bills you have, banking and investment information, where important files and keys are stored, etc., how to access things on the computer, etc.

Regardless, when the time comes things seem to get done ... although having information documented would make it more easy.

Treat the RV as your car. It's no big deal unless you and a close friend/relative agree mutually on having it. Then let the spouse know of your plans.

Charming · 01-26-2021, 06:51 AM

To correct my response with what TwoGypsies posted.

Like all financial matters, it is important that both of you share the knowledge about finances and property. I think most everything we own has both of our names on the title, account, or deed so it makes planning a little easier. DH handles the bills but I have his passwords and know where the books are kept.

If DH passes first and I find out that he has written instructions to give the motor home to Joe Blow or Cousin Bob would perhaps see the suggestion of RoadEyePie come to fruition and he will "wake up" buried in it. (Stealing a line from film - wake up dead.}

We have been putting off rewriting our outdated wills and at this point in life we might need to explore a living trust.

Teamfoxy · 01-26-2021, 07:55 AM

I've seen a couple of errors here. A china cabinet or an auto do not need to go through probate.(At least in FL). A motorhome would, just like any real estate. If after talking to your family you decide that nobody will benifit from it, you are best off to direct that the motorhome be sold and the money be distributed according to the provisions in the will. That way, there is no arguing over value.
The best thing to do is to have a lawyer, familiar with the laws of your state of domicile, make out a will for you. You could wind up saving your family a lot of anguish and problems.

WagonMaster · 01-26-2021, 08:40 AM

As many have stated, A family Trust is the way to go. I changed ownership of all of the vehicles into the Trust. The Trustee will become the ultimate administrator of what happens to this property. It's very simple to change the Titles of the vehicles in this way. Upon activation of the Trust it will be very simple for the Trustee to handle sales, etc....no probate. My parents and my in-laws both had Family Trusts and it was extremely appreciated.

sbleiweiss · 01-26-2021, 08:55 AM

I am a lawyer (though not an estate lawyer) and just want to weigh in here. So much talk about wills. Wills are not an estate plan. Wills are not adequate estate planning. Wills are part of an estate plan to be sure, but wholly inadequate for anyone on this forum (anyone who owns an RV). The reason is with just a will your estate will have to go through probate. Probate takes a long time and costs $$$$. A good estate plan avoids probate. It also minimizes estate taxes that have to be paid. Please, anyone with nothing or just a will. See an estate planning lawyer. And once the plan is prepared, be sure to follow it. Different assets may need to be put into the (or one of the) trust names for the plan to work.