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Aircraft registration

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Ron B.

Well Known Member
I have all my vehicles registered in both my wife’s name and mine in the event one of us passes , it would be the survivor’s property. My planes are registered in my name only and I am wandering if they should be in both as well.
Don’t know if this would increase liability on her , I do have liability insurance?
Thanks
 
Here in the US things are different state by state. California is a “community property” state, my wife and I own everything equally regardless of what the registration says. Other states may be different. But lawyers have long ago figured out how to sue anyone and everyone. And, sadly, no one can afford enough liability insurance, if you are really unlucky.
 
The problem comes when she has to sign the bill of sale for the aircraft when you pass. In the US if the plane is in 2 names both still have to sign it. If it is an LLC then only one signature is required. Check your Canadian regs. for the bill of sale requirements.
 
This US state is a "separate property" state. My wife and I (and our lawyer) addressed this in the living trust we set up with our will. We each have all of our property split between the our two trusts, and the will specifically specifies that our individual trust and everything in it goes to the other one that didn't die. Avoids probate, among several other things, but relative to actual ownership of any given item, it doesn't matter who the actual owner is, the other person inherits it all. Note that this living trust scenario only relates to inheritance...has nothing to do with property division or who owns what in the event of a divorce. Maybe Canada has some kind of similar trust arrangement that would simplify your property transfer concerns.
 
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664781 said:
The problem comes when she has to sign the bill of sale for the aircraft when you pass. In the US if the plane is in 2 names both still have to sign it. If it is an LLC then only one signature is required. Check your Canadian regs. for the bill of sale requirements.
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I actually helped a widow with this. Turns out it happens a lot, the needed forms were all readily obtained, etc., wasn’t really a big deal at all (compared to other issues with her husband’s passing).
 
Ron B. said:
I have all my vehicles registered in both my wife’s name and mine in the event one of us passes , it would be the survivor’s property. My planes are registered in my name only and I am wandering if they should be in both as well.
Don’t know if this would increase liability on her , I do have liability insurance?
Thanks
Click to expand...
Very timely post. My wife and I were at our lawyers this past Friday. I mentioned I am build8ng an RV10 and he said it should be registered to both of us. The reason is if its just registered to me and I pass, then the airplane has to go through probate which costs time and money. If it’s joint ownership she’s automatically the new owner and can sell at will.
 
FAA Has a form, “Affidavit of heir at law” that a widow or order heir can use to transfer ownership, and avoid probate if not in both spouses names. As Bob said, not a big deal.
 
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