Can I avoid liability for an accident involving a vehicle I gifted my son, even though the title is still in my name and he has his own insurance?

In most states, the driver of the vehicle is held liable for accidents, not the titled owner.

Merely gifting a vehicle to your son and retaining the title does not make you liable for accidents.

However, if you maintain insurance on the vehicle, you may be named in a lawsuit as the named insured.

If your son is under the age of majority, you may be named in a lawsuit as the responsible parent.

Some states consider the titled owner liable if they retain control or authority over the vehicle.

Consulting with an insurance agent is recommended to determine the best course of action.

When you title a car in someone else's name, they become financially responsible for the vehicle.

If your son causes an accident, he would be liable for damages, not you.

If you gift a car worth over $15,000, you must file a gift tax return.

In California, the recipient must complete a Statement of Use Tax when transferring a titled vehicle.

In Florida, gifting a car to a family member exempts you from taxes.

If you pay taxes on a gifted vehicle, the state uses the vehicle's value to calculate the tax.

To transfer a car title to a family member, you must fill out Form MVU26 Affidavit in Support of a Claim for Exemption from Sales or Use Tax for a Motor Vehicle Transferred Within a Family in California.

Shipping a gifted car requires proper documentation and transportation coordination.

Gifting a car also involves emotional considerations, as it is an act of kindness and a story.

Ship A Car Inc offers personalized transportation services for gifted cars.