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NFA Inheritance

MaverickNH

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I intend to add to my estate plan, willing of my firearms and NFA items (suppressors & SBR) to my youngest child (veteran son, 23) who currently lives in NC. I’ll stipulate the should he be unable to possess these, they go to my wife or eldest child (if my wife doesn’t survive me), neither of whom are gun people but are adverse to firearms. They can do the NFA transfer applications.

Need I specify make/model/SN/NFA# or is it advisable to leave it broad and say firearms and related accessories? They were not NFA trusts - just Form 1/4.
 
Would it not be a lot simpler to have a trust with him as co-trustee? He would not be stuck with the needed stamps that way. I can add or remove trustees at will but it’s my wife and I only on it.
That said my SBR is in the trust but my still in jail can was purchased as individual.

Spitballing.
 
Would it not be a lot simpler to have a trust with him as co-trustee? He would not be stuck with the needed stamps that way. I can add or remove trustees at will but it’s my wife and I only on it.
That said my SBR is in the trust but my still in jail can was purchased as individual.

Spitballing.
Maybe I should have started as a Trust to begin with, but with 5 NFA items on Form 1/4 already I think the cost would be prohibitive to revert them all to a trust. But I may be wrong - would have have to refile for all 5 at $200 each (plus the trust cost, of course)?
 
Maybe I should have started as a Trust to begin with, but with 5 NFA items on Form 1/4 already I think the cost would be prohibitive to revert them all to a trust. But I may be wrong - would have have to refile for all 5 at $200 each (plus the trust cost, of course)?
I thought anything could be placed into the trust at any time.
I honestly never looked at putting NFA items into it. I know I can put any of my non NFA stuff into the trust and I did that in addition to our wills to keep firearms in.
 
Obviously a trust is the way to go, lets you add/remove trustees and responsible persons (people who can actually use the NFA items), all with no additional cost. Setting up a trust is a minimal cost, should be under $200.00.
OP would need to transfer the items to the trust, it is a change in ownership, so the $200 per applies, but once it's done its done, it will never need to be paid again no matter who the trustees are.
If you figure that whoever inherits them would have to pay the $200 each if they are not in a trust, paying it now to put them in a trust makes more sense.
 
Obviously a trust is the way to go, lets you add/remove trustees and responsible persons (people who can actually use the NFA items), all with no additional cost. Setting up a trust is a minimal cost, should be under $200.00.
OP would need to transfer the items to the trust, it is a change in ownership, so the $200 per applies, but once it's done its done, it will never need to be paid again no matter who the trustees are.
If you figure that whoever inherits them would have to pay the $200 each if they are not in a trust, paying it now to put them in a trust makes more sense.

 
A trust also has another benefit - in the event you need to have someone else hold your guns (you are being denounced by a spouse, etc.) it's trivial if they are in a trust. I have a NFA trust with a close friend and his son, and I keep written documentation as to who has physical possession of the items in the trust.
 

apparently you can, but still a lot easier to just add them to a trust
 
Obviously a trust is the way to go, lets you add/remove trustees and responsible persons (people who can actually use the NFA items), all with no additional cost. Setting up a trust is a minimal cost, should be under $200.00.
OP would need to transfer the items to the trust, it is a change in ownership, so the $200 per applies, but once it's done its done, it will never need to be paid again no matter who the trustees are.
If you figure that whoever inherits them would have to pay the $200 each if they are not in a trust, paying it now to put them in a trust makes more sense.
I understood that an inheritance transfer does not require the $200 per device fee paid again, but transferring to a trust would?
 
I understood that an inheritance transfer does not require the $200 per device fee paid again, but transferring to a trust would?
Yes, transfer of title from individual to trust requires $200 fee.

If not in trust already, then you should have your estate attorney and executor be familiar with the form 5 and its process as described in the links above.
 
Yes, transfer of title from individual to trust requires $200 fee.

If not in trust already, then you should have your estate attorney and executor be familiar with the form 5 and its process as described in the links above.
Good to learn this. No transfer fee from individual to another thru our wills BUT the fee applies if I were to put my suppressor into our NFA trust.
 
Our Estate Attorney recommended we do indeed have a separate trust for NFA items, despite the added cost, as the problems that can and do arise in dealing with such inheritance are complex. Once the Fed steps in for any reason on firearms, nothing good happens. At best, you spend more money on lawyers than had you done a trust.

We’ll just do carve-outs in our trust/will to put all firearms in a separate trust.
 
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