Suppressor/ Will question
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ssracer
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Whootsinator
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Re: Suppressor/ Will question
I will answer what I believe to be true but hopefully someone with a better working knowledge can confirm.
1. Yes
2. Yes
3. Yes
If there is not a trust involved the item will have to be transferred from you (your estate?) to your heir just as if you sold it to someone else, except it should be tax free. I'm not sure who the middle man is here, who would possess the item during the transfer.
If you have a trust, the trust owns the item. If one person passes, the trust still owns the item and nothing has changed.
1. Yes
2. Yes
3. Yes
If there is not a trust involved the item will have to be transferred from you (your estate?) to your heir just as if you sold it to someone else, except it should be tax free. I'm not sure who the middle man is here, who would possess the item during the transfer.
If you have a trust, the trust owns the item. If one person passes, the trust still owns the item and nothing has changed.
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jmeister
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Re: Suppressor/ Will question
You can pass it to heir on a form 5 without transfer fee but still have to go through the typical transfer process of waiting before taking possession. Not sure I would rely on that still being in effect come time.
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guncrank1
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Re: Suppressor/ Will question
- traditional approval process, I am not paying a lawyer to do a trust for a hobby item, and I dont trust the homespun trust.
A trust or federal forms and wait time
That is the answer for NFA items and estates.
A trust or federal forms and wait time
That is the answer for NFA items and estates.
Re: Suppressor/ Will question
jmeister got it. Form 5 tax free. Same process and it has always been like that.
When the new trust regulations go into effect, anyone on a trust will have to be fingerprinted and have a CLEO signoff anyway. Not much advantage to a trust anymore. Some, but not much.
When the new trust regulations go into effect, anyone on a trust will have to be fingerprinted and have a CLEO signoff anyway. Not much advantage to a trust anymore. Some, but not much.
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ssracer
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Re: Suppressor/ Will question
Wondering if that's going to be retroactive...and how is that gonna work for minors on a trust?
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guncrank1
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Re: Suppressor/ Will question
uhm that is new information to meRext wrote:jmeister got it. Form 5 tax free. Same process and it has always been like that.
When the new trust regulations go into effect, anyone on a trust will have to be fingerprinted and have a CLEO signoff anyway. Not much advantage to a trust anymore. Some, but not much.
Thanks Rext