Jump to content

Recommended Posts

You can add more than one person to a trust such as family members and Friends. It should also make it somewhat easier when you pass away for whoever has to deal with your NFA items. This is just my opinion. John Wells is a member of TGO and did my trust. He would be the man to talk to.

  • Like 3
Link to comment
  • 1 month later...

I did a trust before a background check was required for a trust. Now it's still worth the effort for my wife to able to handle the items in the trust. For instance if I left a registered device in my car and my wife drove it she could be charged with a crime and jail time for being in possession of the items. Probably wouldn't happen but I dont want Barney Fife making that call at a traffic stop either.

Link to comment

There are two main advantages to having a trust. The first being, you can allow multiple people (i.e. family members, friends, etc.) to use your NFA item with out you being present, as long as they are listed as a responsible person on the trust and are of legal age.  The second advantage is that if you are to pass away, your NFA item will not have to be sent to the ATF. Who ever is on your trust can still be in possession of the item. 

Link to comment
30 minutes ago, TerminalLcpl88 said:

There are two main advantages to having a trust. The first being, you can allow multiple people (i.e. family members, friends, etc.) to use your NFA item with out you being present, as long as they are listed as a responsible person on the trust and are of legal age.  The second advantage is that if you are to pass away, your NFA item will not have to be sent to the ATF. Who ever is on your trust can still be in possession of the item. 

You don't send them to the ATF anyway. ATF does a tax free transfer to whoever you left it to in the will. 

  • Like 1
Link to comment
1 hour ago, alleycat72 said:

You don't send them to the ATF anyway. ATF does a tax free transfer to whoever you left it to in the will. 

True, I got sidetracked and didn't post a full in depth post (wife was calling me to dinner and a fat boy's gotta eat). I meant that under a trust, If set up correctly, you can elect to have your trust stay in existence after your death. This would allow for the trustee/beneficiaries of your trust to continue the use/possession of the NFA item after your death with out the transfer requirements. This option works for those with no will or heirs, in which case the item normally would then have to be forfeited to the ATF for disposal.

Link to comment
7 minutes ago, TerminalLcpl88 said:

True, I got sidetracked and didn't post a full in depth post (wife was calling me to dinner and a fat boy's gotta eat). I meant that under a trust, If set up correctly, you can elect to have your trust stay in existence after your death. This would allow for the trustee/beneficiaries of your trust to continue the use/possession of the NFA item after your death with out the transfer requirements. This option works for those with no will or heirs, in which case the item normally would then have to be forfeited to the ATF for disposal.

If you file as an individual and die the ATF will do a form 5 tax free transfer to your heir. It doesn't have to be a trust.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

TRADING POST NOTICE

Before engaging in any transaction of goods or services on TGO, all parties involved must know and follow the local, state and Federal laws regarding those transactions.

TGO makes no claims, guarantees or assurances regarding any such transactions.

THE FINE PRINT

Tennessee Gun Owners (TNGunOwners.com) is the premier Community and Discussion Forum for gun owners, firearm enthusiasts, sportsmen and Second Amendment proponents in the state of Tennessee and surrounding region.

TNGunOwners.com (TGO) is a presentation of Enthusiast Productions. The TGO state flag logo and the TGO tri-hole "icon" logo are trademarks of Tennessee Gun Owners. The TGO logos and all content presented on this site may not be reproduced in any form without express written permission. The opinions expressed on TGO are those of their authors and do not necessarily reflect those of the site's owners or staff.

TNGunOwners.com (TGO) is not a lobbying organization and has no affiliation with any lobbying organizations.  Beware of scammers using the Tennessee Gun Owners name, purporting to be Pro-2A lobbying organizations!

×
×
  • Create New...

Important Information

By using this site, you agree to the following.
Terms of Use | Privacy Policy | Guidelines
 
We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.