Setting up a Trust?

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Shadowrider

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Somewhat related question. Can you put non-NFA guns in it too? I'd like to designate certain parts (mostly inherited) of my collection going to certain individuals when I pass. Seems like it would be easy to just name them as successor trustees. Also seems like it could possibly throw a wrench into the confiscation when one passes if certain laws are passed since the trust will still be the owner. I don't think that anything remotely like the rumors is going to pass anytime soon, but they aren't going to stop trying either.
 

Toowork

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I wonder in all the new anti-gun legislation if they will take the trust option away. Guess I had better get one done beforehand and hope those grandfathered in survive.
 

CAR-AR-M16

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I wonder in all the new anti-gun legislation if they will take the trust option away. Guess I had better get one done beforehand and hope those grandfathered in survive.

Only proposed new changes to NFA procedures is to do away with needing a CLEO signoff for the individual route (good thing) and requiring fingerprints/photos for ALL members of a trust (not so good thing).
 

CAR-AR-M16

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338Shooter

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I don't think I'd put a person under 18 on an NFA trust to begin with.

The transfer process is just as easy with individual ownership as it is with a trust. Tax free form 5 as CAR mentioned.
 

Toowork

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I was going the place my brother-in-law on there as the administrator until they reach 18. I know the ATF allows someone to hold them until the kids reach the legal age. I am not as worried about the NFA stuff now, but down the line should this be the start of a completely different egun nvironment. The gun haters have been waiting for a moment like this for a long time.
 

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