General Categories > The NFA Corner
Trust or not?????
bkoenig:
If you have a trust any of the people named in the trust can have physical possession of the NFA item. Other people can use it if you are present.
If you don't have a trust only you can can physical possession.
on the fritz:
..... but other may still use it in my presence, correct?
whatsit:
--- Quote from: on the fritz on January 11, 2014, 07:12:27 PM ---..... but other may still use it in my presence, correct?
--- End quote ---
Yes, that is true.
Additional benefits of trusts:
no LEO sign-off (for now -- they're considering changing this)
if your significant other is a member of the trust, it's no big deal for them to have access to your gun safe
you can e-file for your items (so far, it has proven much faster to get your stamp by e-filing)
you can add members to the trust later (think children or a future spouse) so they can legally posses the NFA items.
on the fritz:
OK. Cool.
So a trust costs more but saves the hassle of a CLEO sign-off.
What happens to my suppressor or SBR, etc. if/when I die?
whatsit:
--- Quote from: on the fritz on January 11, 2014, 07:27:10 PM ---OK. Cool.
So a trust costs more but saves the hassle of a CLEO sign-off.
What happens to my suppressor or SBR, etc. if/when I die?
--- End quote ---
A good trust will include instructions about what to do with your NFA items. However, I believe even without a trust, an item can be transferred with a form 5 (someone check that for me) upon your death. I know some guys just fill out a form 5 (again, I think that's what it's called) and keep it in their safe with their items, so their surviving relatives can fill it out with very little effort.
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