Retitling a documented vessel?

http://www.uscg.mil/hq/cg5/nvdc/instr/inst exchange.pdf

I also recommend using a documentation service. Most of the time you could do the same thing, but it's that one time they handle problems or prevent mistakes that pays their way.

I need to retitle a documented vessel and place it into a trust.

That is a big question you are putting to the forum. Are you getting professional advice on the trust? This seems more than just a title issue??

Yes, we did pretty much assume a lawyer was handling the trust aspect. Hopefully that was a valid assumption.

I'm going to introduce one other factor too. Maybe someone else can speak to experience on this but I haven't heard what, if any, issues people have with entry into other countries with a boat in a trust. This isn't so much what the legality is but what the agents recognize. They're somewhat use to Corporations and a little less so LLC's. I just don't know how they would react to a trust and be convinced that you've got proper permission to have the boat there.

Very good advice, Trusts are coming under increasing scrutiny in my area of operation. There are some pitfalls that the alure of a quick fix trust disguise till its too late and the benefit you sought could be reduced or unavailable as originally intended.

Take professional advice and if possible from a specialist who has setup a trust that is being used for similar to what you want your trust to do.

Expect to pay accordingly for these specialist services.

But keep in mind that not using the services of experts can be many times more expensive.

That is the exact reason I posted that line.

I understood the situation from your initial question, but....

The devil is in the details, which none of us have, along with us not being experts in the field. We don't even know basics such as the type trust, the state in which the trust is formed (guessing Florida but this isn't the sort of thing to guess at), and so much more. We could give an answer that is correct in most situations but could be very wrong in yours. I assume you've used a lawyer in setting up the trust, but hope also you've consulted with one in the pros and cons of putting your boat in the trust. Once that is fully resolved then my advice remains to use a documentation service.

This question is far more than which forms to use. I pointed you to the forms, but I'd not advise you to use them. Not trying to be difficult, just advising you this is far too complex a subject requiring professionals in two different fields and requiring them to have all the information.

Hi Skip

Not my intention to pierce any privacy, just learn. What is the intended benefit of putting a depreciating asset in trust?

Thx Skip. How's have those Mans been running?

As this thread is not a technical issue, it has been moved to the General Discussion forum.

Also, a will can always be challenged, and sometimes challenges are successful.