Suppressor/trust questions

[Jpsmith1]

Giving some thought to a can for my 22 and maybe for my 7mm. Buying through a trust seems a no-brainer.

My kids, however, aren't huge shooters so I think towards the future and what responsibilities I would be passing down.

I understand the trust and how I could designate them as trustees and how the trust would outlive me.

After I'm gone, however, the trust remains, right? So, as trustees, they or my wife would have to deal with disposal/transfer of these NFA items.

 

[dreadi]

If they aren't into it, why bother paying for a trust?

 

[wind gypsy]

Giving some thought to a can for my 22 and maybe for my 7mm. Buying through a trust seems a no-brainer.

My kids, however, aren't huge shooters so I think towards the future and what responsibilities I would be passing down.

I understand the trust and how I could designate them as trustees and how the trust would outlive me.

After I'm gone, however, the trust remains, right? So, as trustees, they or my wife would have to deal with disposal/transfer of these NFA items.

Yes

 

[Telford29]

If you have access to podcasts, Hunt Backcountry episode 453 is very informative. They answer all sorts of trust questions.

 

[hereinaz]

Trust avoids probate. If an individual owns it, the ATF has required probate so someone with legal authority can transfer it.

Either you name a trustee as the one with authority before you die or a court does after you die.

While you are alive in a trust, you can let friends and others use NFA items. And, you can change trustees and beneficiaries if you want to give it to someone else when you die.

Basically, a trust gives you lots of options while you are alive or when dead.

You might not want any of the options now, but what if something changes? It will cost you money later.

 

[pacoalcracker]

using a trust IS a no-brainer....dead or alive.

 

[ruger35]

Giving some thought to a can for my 22 and maybe for my 7mm. Buying through a trust seems a no-brainer.

My kids, however, aren't huge shooters so I think towards the future and what responsibilities I would be passing down.

I understand the trust and how I could designate them as trustees and how the trust would outlive me.

After I'm gone, however, the trust remains, right? So, as trustees, they or my wife would have to deal with disposal/transfer of these NFA items.

Even as individual if you were to die you get a free transfer to any eligible individual of age. The ATF doesn't just come and take your suppressor when you die. I have cans both as individuals and in a trust.

 

[Jpsmith1]

Trust avoids probate. If an individual owns it, the ATF has required probate so someone with legal authority can transfer it.

Either you name a trustee as the one with authority before you die or a court does after you die.

While you are alive in a trust, you can let friends and others use NFA items. And, you can change trustees and beneficiaries if you want to give it to someone else when you die.

Basically, a trust gives you lots of options while you are alive or when dead.

You might not want any of the options now, but what if something changes? It will cost you money later.

The trust part is a no-brainer as far as I'm concerned.

I will need to have spme conversations with them

 

[hereinaz]

The trust part is a no-brainer as far as I'm concerned.

I will need to have spme conversations with them

If they won’t keep them after you die, the Trust makes it way easier for them to sell/transfer to an FFL. Also avoids the cost of probate which can be thousands of dollars.

That is why they want a trust.

 

[dreadi]

Friends and family with an NFA items(s) have died and their items that were not in a trust have not been involved in probate. All that was required of them of was a Form 5 with substantiating documents.

 

[hereinaz]

Friends and family with an NFA items(s) have died and their items that were not in a trust have not been involved in probate. All that was required of them of was a Form 5 with substantiating documents.

While it may happen, a trust is the only surefire way to always avoid probate, which is governed by state law.

Whether a probate is required depends on the state probate law and situation of the dead person. The ATF requires that the decedent follow the state laws whether a probate is needed. See Section 9.5.3 Distribution of estate firearms.

https://www.atf.gov/firearms/docs/undefined/atf-national-firearms-act-handbook-chapter-9/download

Of course, the situation can also arise that some ATF agent requires the probate, even though state law doesn't require it. That happened to one of my clients...

 

[Jpsmith1]

If they won’t keep them after you die, the Trust makes it way easier for them to sell/transfer to an FFL. Also avoids the cost of probate which can be thousands of dollars.

That is why they want a trust.

So, legally speaking, I croak. Trust passes to the kids.

They decide they don't want them. They do a little legal paperwork, pass the trust to someone qualified who DOES want them, they're removed from the trust and everyone is happy?

 

[ScreamingPotato]

OP, contact Jim Willi, he's an estate planning attorney and writes the best gun trusts you'll find so he literally specializes in exactly what you're asking. He won't mind spending time on the phone explaining it, he insisted on talking to me on the phone before he'd write my trust as well.