Dealing with dad's car

[ChrisH72]

I thought I'd start a new thread about this.

My dad passed away recently and my brother and I are joint executors and beneficiaries. His car is a 2015 Citroen C3 Picasso which is fairly low mileage and decent condition but not high value. Its not of interest to me at all but my brother would like it and we have agreed that he can just pay me half the value.

I have used Tell us once to inform DVLA that dad has died. As far as I can see, all my brother needs to do is fill in the V5C with himself as new keeper and send it to the sensitive case department. Once he has taxed and insured the car its job done isn't it?

The car has a private plate which I think automatically belongs to my brother once he gets the new V5 in his name?

Have I got all that correct or is there more to it?

Thanks in advance guys.

[Sir Bagalot]

Condolences.

Yes, if you do that it's all done and dusted.

[Mogul]

If your late father's estate was above his available nil rate band, you might need to pay Rachel for her 40% share...

[alscar]

Condolences to you and your family.
Your plan sounds fine.
Correct that the plate will be "sold" with the car and therefore the new V5 in your brothers name will continue to show this.
Assuming you are Executors it may be worth just keeping a record of this transaction but if the whole estate is below the IHT allowance and /or everything has been left instead to say your Mum then probably don't need to even do that.

[ChrisH72]

Okay that's great thanks.

He was way below IHT threshold but I'll just record the value of the in the final estate accounts.