Hi emma99.

What do you mean by signing it over?

How much is it worth?

Hi emma99

It's a strange question on a few fronts. If it's an asset then, no. Or even if you did it would still be an asset in the trust deed.

If it's not an asset, then there should be no problem with this.

Can I ask why you are thinking of transferring it?

Mark

Hi it is only worth under a £1000. It is down as an asset.

Thanks

Why do you want to sign it over emma99?

What exactly do you mean by "signing it over"? That could mean a couple of different things.

Hi it is to make my mum the owner in name she is down as the named drive as I can't drive it at the moment.

But who actually owns the car? If its you theres nothing stopping your mum being the main driver without owning it. If its listed as an asset in your trust deed you cannot transfer it into your mums name. I'm surprised it is listed if its value is less than £1000.

Paul

It's strange that its listed as an asset with a value of less than £1k as the allowable value for a car, depending on when the Trust Deed was signed is £3k.

Mark

Hi maybe it is not in my trust deed then. It was valued at £1,500 when I signed the trust deed.

Thanks

When did you sign your trust deed emma99?

Hi

I signed the trust deed in may 2011.

Thanks

I doubt that it's viewed as an asset then emma99, but it's always wise to check these things with your own trustee before taking any action.