Using either an LLC or Trust to own property and vehicles is very simple to set up, and easy to transfer ownership of the property by executing a title transfer just as if you sold the property (which you legally are actually selling it). There are slightly different advantages to LLC vs Trust ownership and those vary slightly state to state.
Many families have a Family Trust to own all real property & sometimes vehicles, for both liability issues as well as ease in avoiding Probate when an individual owner passes away.
Any local Trust attorney can explain the process.
I agree with the above comment that mixing this family item with your personal business is probably not a good idea. There is no advantage to using an existing LLC when its so easy to setup a new LLC (or Trust) to handle this item. You will incur some additional fees, but those are minor in the big picture. Also keep in mind the vehicle insurance will have to be transferred into the name of the LLC or Trust and that usually means a higher rate, and not all insurance companies will deal with an LLC.
managing the family dynamics, shared use & responsibilities and payments will be a much more difficult issue, than the legal solution.
