Posted on 10/31/2021
Photo by Liviu C. on Unsplash So it’s time to hand over your precious BMW to the next generation of drivers in your family. This is both an exciting and slightly scary process because it’s not so simple as people make it out to be. Incredibly irritating is the fact that your kid (inheriting your car) will have to pay a used car tax which has never been a fun experience. Keep in mind, most states can allow you to avoid this tax, but only if you are gifting it to an “immediate” family member, such as your spouse, kids, grandparents, grandchildren, and siblings. But, as we said, that’s in MOST states. Although there are a lot of steps to take and a lot of paperwork to do when passing ... read more