How do I create a will so my NFA item stays in familly?

[Kip42]

How can I create a will so all of my stuff, guns, suppressors, sbr's stay in my familly? Can I get a CD rom and create my own will? What usually happens to your stuff when you die such as property as well as NFA items?

[PAIN]

Create a NFA Trust thru a lawyer. That's how I did mine.

[libertyman777]

Can't they just be left to someone of age in a will?

[Emilio]

I have a trust with the boy on it. One problemo, he is careful of what I buy and sell now.

[doubloon]

Can't they just be left to someone of age in a will?

This.

If all you want to do is leave them to heirs it's as simple as a will and a tax free form. Don't clutter it up with a trust. If the NFA items are not already in a trust you would have to pay to transfer them to the trust.

I'm not a lawyer but I believe if the Grantor of a Revocable Living Trust dies so does the trust. The Grantor still owns the items in the trust and trustees can have access to the items as long as the trust is 'alive'.

[WanderingWolf]

Can't they just be left to someone of age in a will?

This.

If all you want to do is leave them to heirs it's as simple as a will and a tax free form. Don't clutter it up with a trust. If the NFA items are not already in a trust you would have to pay to transfer them to the trust.

Here's my thought:
If the NFA item (not already in a trust) is placed in a will, the beneficiary would need to transfer and pay for a new stamp.

If the OP places the items in a trust, there's a stamp for that and AGAIN after death to transfer to the beneficiary.

Correct?

[Emilio]

What is "clutter" with a trust? Mine was free, came with can family can be on it, Going through a sheriff is SLOW and PITA!

[GoingQuiet]

How can I create a will so all of my stuff, guns, suppressors, sbr's stay in my familly? Can I get a CD rom and create my own will? What usually happens to your stuff when you die such as property as well as NFA items?

Consult a lawyer and tell them your exact wishes.

Form 5 transfers to lawful heirs are legal and tax free.

[WanderingWolf]

Form 5 transfers to lawful heirs are legal and tax free.

I just learned something for the day. Thanks!

[LawBob]

Can't they just be left to someone of age in a will?

This.

If all you want to do is leave them to heirs it's as simple as a will and a tax free form. Don't clutter it up with a trust. If the NFA items are not already in a trust you would have to pay to transfer them to the trust.

I'm not a lawyer but I believe if the Grantor of a Revocable Living Trust dies so does the trust. The Grantor still owns the items in the trust and trustees can have access to the items as long as the trust is 'alive'.

Good thing u aren't giving legal advice.

The answer is that u just name the intended beneficiary in ur will. One the will is approved by probate judge and the executor is given letters testamentary then the executor can transfer to the intended beneficiary tax free.

The ATF will require letters testamentary and a copy of the will.

If you had your items ina trust the trust provisions govern.

For example: if I die my stuff is held in trust by my children for the benefit of my still
unborn grandchildren

Thus, no tax stamps for two generations.

No ATF notifications. Nada.

[Rick Finsta]

Some states (WI being one of them) don't have laws against perpetuity, meaning that a trust can literally go on owning property with successor trustees using them forever.

[Bendersquint]

Can't they just be left to someone of age in a will?

This.

If all you want to do is leave them to heirs it's as simple as a will and a tax free form. Don't clutter it up with a trust. If the NFA items are not already in a trust you would have to pay to transfer them to the trust.

Here's my thought:
If the NFA item (not already in a trust) is placed in a will, the beneficiary would need to transfer and pay for a new stamp.

If the OP places the items in a trust, there's a stamp for that and AGAIN after death to transfer to the beneficiary.

Correct?

NFA items transfer tax free to the beneficiary of your will or trust. Form5 tax free transfer.

-B

[doubloon]

Thanks B, I thought 'tax free form' was self explanatory but maybe not.

What is "clutter" with a trust? Mine was free, came with can family can be on it, Going through a sheriff is SLOW and PITA!

By 'clutter' I mean trying to construct a trust that outlives the grantor or outsmarts the NFA. By 'clutter' I mean if you don't understand how a trust works it is very easy to create an invalid trust or invalidate your trust through modification. Also, having family on the trust is not always a plus for everybody.

I agree if the purchaser is capable of grasping the concept of a trust or a LLC that there is no better way to go than one or the other but trusts and LLCs are not for everyone. There are pros and cons to all three forms of ownership for mere morals but a special kind of hell is reserved for SOTs.

[doubleajaybrock]

Here is a link to the ATF's website for all of the downloadable forms:

http://www.atf.gov/forms/firearms/

FORM 1-FORM 5 are about half way down on the sreen.

[Dogtired]

http://www.atf.gov/press/releases/1999/ ... sfers.html

It is the responsibility of the executor of the estate to maintain custody and control of the firearms and to transfer the firearms registered to the decedent. The firearms may not be transferred to another party, such as a firearms licensee, for consignment or safekeeping. This would be a transfer subject to the requirements of the NFA. The licensee may assist the executor by identifying purchasers and acting as a broker.

The firearms may be transferred on a tax-exempt basis to a lawful heir. The executor would apply on ATF Form 5, Application for Tax Exempt Transfer and Registration of a Firearm, for a tax-exempt transfer to a lawful heir. A lawful heir is anyone named in the decedent’s will or, in the absence of a will, anyone entitled to inherit under the laws of the State in which the decedent last resided. NFA firearms may be transferred directly interstate to a beneficiary of the estate. When a firearm is being transferred to an individual heir, his or her fingerprints on FBI Forms FD-258 must accompany the transfer application. However, if any Federal, State or local law prohibits the heir from receiving or possessing the firearm, ATF will not approve the application.

[JohnInNH]

IMHO a Trust is easier and less of a problem than a will. I have a trust for JUST my NFA items.. My Will will be independent of the Trust. The Trust BYPASSES PROBATE!

You can have more than one trust.

[doubloon]

http://willsandprobate.com/FAQ/living-trust.htm

FWIW ...

1. In Texas, probate can be fast and inexpensive.

Some states impose procedural requirements that generate large legal fees and take years to complete. But Texas has a vastly simplified procedure called "independent administration" that you can take advantage of merely by using the proper language in your will. An independent administration can often be completed within three months if no estate tax return needs to be filed. My fee to set up a living trust usually comes to about the same amount as my fee to handle an uncontested probate with independent administration. So a living trust in Texas is not likely to save probate costs. It won't even save you the cost of the executor's fee; if you don't have a relative or friend who is available to serve as executor for free, then you probably won't be able to find anyone to serve as successor trustee of a living trust for free, either.

[Dogtired]

The way the ruling is worded, it says legal heir, it does not specify a will as being necessary.

[3 weelin geezer]

So, how do you plan to control its ownership once you die? Kinda hard to do that 6 ft. under. No matter how hard you try, your successors do not have to do what you want no matter what legal document you draw up as you cannot enforce it. Just like owning land. You can't pay taxes from the grave so the govt. takes it sooner or later if you don't pass it on to someone who will.

[Bendersquint]

So, how do you plan to control its ownership once you die? Kinda hard to do that 6 ft. under. No matter how hard you try, your successors do not have to do what you want no matter what legal document you draw up as you cannot enforce it. Just like owning land. You can't pay taxes from the grave so the govt. takes it sooner or later if you don't pass it on to someone who will.

No taxes are collected when it is transferred from the deceased to the heir. Transfers on a tax free Form5.

Now it would behoove you to make sure its going to someone that will want to deal with it.

-B

[kogashuko]

If I have some of my stuff in a corp, am president and only officer of the corp, and I stop paying the yearly corp fee can I form 5 the stuff to myself since the corp is dead? I know stupid question but the ATF couldnt tell me what happens to my stuff if I dont pay my fee and get my license to conduct business put on hold.

[Bendersquint]

If I have some of my stuff in a corp, am president and only officer of the corp, and I stop paying the yearly corp fee can I form 5 the stuff to myself since the corp is dead? I know stupid question but the ATF couldnt tell me what happens to my stuff if I dont pay my fee and get my license to conduct business put on hold.

No if the corp dies you have to destroy the items as they are now illegal since noone the owner doesn't exist anymore.

There are no HEIRS in a corporation only officers.

A Corp in order to keep the items has to remain intact or have them transferred out on a F4 + 200$.

-B

[mewright]

Just went through this in Texas. This is only for Texas and I do not know JS about other states probate so please do not slam me.

In Texas you must be the legal and "NAMED" heir. You cannot be be "an heir." Your name must be in the will as the only recipient of the NFA items.

If you are not the "named Heir" the executor has one option and it must be executed through the probate court with a very specific time line. The executor must disclaim each item if more than one. You will need a form 5 for each items and it is Tax free. No new taxes are owed.

Part 2

You had better find a lawyer that is a Class 3 enthusiast or they will waste the time you need to file the disclaimer. If they do not own class or NFA items then they cannot possibly understand how slow the process is.

Part 3

NFA devises held by a Corporation are illegal as soon as the primary dies if no one else is on the board to continue the corporation and these devices must be surrendered immediately upon death.

This took me a 9 months to resolve. It was a long time to work through the paperwork and the ATF/NFA Branch was extremely helpful during the entire process.