Estate Planning - Trust and NFA items

[TheCougar]

My wife and I are starting estate planning, and part of that is forming a trust for assets for the kids. I have two cans, in two separate trusts. The estate planning lawyers didn't know anything about these kinds of trusts, or the dispositions of the suppressors in the event my wife and I pass at the same time. Can anyone point me to resources or your experiences in figuring out how to pass these items on to beneficiaries who are under a family trust? I hope I am clearly describing my question...

 

[Speaks]

Are the people you are passing them on to on the suppressor trust? If so are they not already owners of the suppressor just as much as you are right now? I would not think there would be any more to do unless you had multiple people on the trust but wanted the suppressor to specifically only go to one of them.

 

[gbflyer]

Add those kids to your gun trust.

 

[TheCougar]

Are the people you are passing them on to on the suppressor trust? If so are they not already owners of the suppressor just as much as you are right now? I would not think there would be any more to do unless you had multiple people on the trust but wanted the suppressor to specifically only go to one of them.

I don’t think anyone is on my trust. The kids are minors. I don’t think my wife is on there either.

 

[TheCougar]

Sounds like just leave it be and add them to the suppressor trust only and call it a day

 

[Samson7x]

Yes, you could add them on when age appropriate or it could transfer tax free via Form 5 upon death.

 

[DuckDawg22]

I used National Gun Trusts for mine, all items are set up to go to my brother until my son turns 18. Have not included this in my estate planning with wife, no need to make that any more complicated than it already is

 

[Speaks]

I don’t think anyone is on my trust. The kids are minors. I don’t think my wife is on there either.

Just add your wife for now then she is effectively already an owner. When your kids are age appropriate add them.