Gun Trust?

[Novabrian]

Has anyone here ever done a Living Trust and added their Firearms? Any benefits? Any down sides?

 

[Px4Shooter]

Just an asset. Like anything else.

Or are you talking NFA stuff?

 

[Symbolic9]

I paid a lawyer $500 to write an NFA Gun Trust for my family. Not sure it was worth it, especially since you can download decent ones on the internet and then 41F was passed in 2016.

Here's a lawyer's website where he discusses gun trusts, but ends up saying you need one (because he wouldn't make money otherwise).
https://nfalawyers.com/two-years-after-41f-are-gun-trusts-still-worth-it/

 

[MAC702]

I only formed a trust because of NFA stuff being easier to do that way AT THE TIME. Even during those times, another good buddy of mine already had a standard family trust. He was able to use that trust to do all his NFA firearms. He didn't need to do another trust for them.

Now, I do my NFA stuff as an individual because that's now the easy way.

 

[Kinoons]

The only advantage now of a trust is more than one individual being able to have possession of the NFA items at a time.

There may be a time when all your firearms need to be in a trust, when the .gov decides that they will get rid of firearms by outlawing transfer; current owner is the last owner. Then having a trust so ownership never changes may have its advantages. (Until the .gov goes further)

 

[Bonez]

The only advantage now of a trust is more than one individual being able to have possession of the NFA items at a time.

This.

We created a trust so either my wife or I could be in possession of our NFA items, the ONLY things on the trust are the NFA items

 

[Novabrian]

This.

We created a trust so either my wife or I could be in possession of our NFA items, the ONLY things on the trust are the NFA items

Then I need to get some NFA items!