View Full Version : Mixing NFA and non-NFA firearms on same trust?
Just a quick question regarding the inclusion of non-NFA firearms on my trust. I'm finalizing my trust and Schedule A and currently only have listed one item, the the lower I'm having SBR'd. Is there any reason not to add my non-NFA firearms to the same Schedule A? Or should I form another trust to handle my non-NFA firearms and other property in the event of my death?
The trust can own them just fine. I don't see the need to put them in the trust unless it's an extensive and expensive collection.
I don't see the need to put them in the trust unless it's an extensive and expensive collection.Not as extensive as I'd like, but a few are items inherited from both grandfathers after they passed. Just want to avoid probate for those I leave behind. As it costs me nothing to include them on the Schedule I thought "Why not?". I do recall reading somewhere (on here perhaps???) that one should never "mix" NFA and non-NFA firearms on a trust, however no reason for this advice was given.
one thing about a trust is that it can only apply to items that have a title to them or if it is registered, etc in a person's name. A house has a title under a specific name. A car, a bank account. a registered rifle, etc. A ring or set of wrenches are not titled. There fore you cannot put them in a trust.
That is why along side a trust you have something called a pour-over will. That will is used to take care of anything that cannot be covered by a trust such as non-registered rifles, etc. Unless of course your state requires registration of such firearms.
A possible advantage for putting non NFA guns on an NFA trust is in anticipation of another AWB in the future, allowing heirs to have them where they might not be able to per future law. We're far from out of the woods in being sure we won't have politicians try to drag up some nasty legislation in Congress.
kubmiester
05-02-11, 17:14
By adding non-NFA firearms onto your trust wouldn’t you be handing over your firearms make/model/serial number to their records for tracking? I would just assume not hand the government this information if it wasn’t necessary.
I wouldn't put non-NFA firearms on the trust.
As for passing them to your heirs, there's nothing to stop you from indicating something to the effect of "Heir A will split up the gun collection into two lots and Heir B will select a lot". That's how they did it in the Bible, anyway.
Donkey Hunter
05-03-11, 09:32
one thing about a trust is that it can only apply to items that have a title to them or if it is registered, etc in a person's name. A house has a title under a specific name. A car, a bank account. a registered rifle, etc. A ring or set of wrenches are not titled. There fore you cannot put them in a trust.
Are you sure about this?
I've talked to a couple attorneys about setting up an NFA trust. Both advised against having anything in an NFA trust that isn't an NFA item. I plan to do a separate "regular" trust for my other guns, heirlooms, etc.
By adding non-NFA firearms onto your trust wouldn’t you be handing over your firearms make/model/serial number to their records for tracking? I would just assume not hand the government this information if it wasn’t necessary.
Well the nice thing about a revocable living trust is that the schedule of property can be modified by the grantor at any time. For example, submit Schedule with future SBR listed along with Form 1 or 4 to BATFE, get stamp, amend Schedule to include additional items. Only the NFA items within the trust would require more than just an amendment to transfer possession.
However, given the possible complex nature of the beats, I've decided not to add non-NFA items to my NFA trust. Thanks for all the input!
one thing about a trust is that it can only apply to items that have a title to them or if it is registered, etc in a person's name. A house has a title under a specific name. A car, a bank account. a registered rifle, etc. A ring or set of wrenches are not titled. There fore you cannot put them in a trust.
That is why along side a trust you have something called a pour-over will. That will is used to take care of anything that cannot be covered by a trust such as non-registered rifles, etc. Unless of course your state requires registration of such firearms.
This is incorrect information.
ETA: When I read your post I asked an NFA/Trust knowledgeable attorney about it and he said it's not true. I'm able to put any firearm in my trust drawn up by the attorney.
devilsdeeds
05-03-11, 19:27
one thing about a trust is that it can only apply to items that have a title to them or if it is registered, etc in a person's name. A house has a title under a specific name. A car, a bank account. a registered rifle, etc. A ring or set of wrenches are not titled. There fore you cannot put them in a trust..
That's not true, you can create what's called an Assignment of Property. Basically a document that states your holding that item in a trust.
But I would just create another trust for non NFA items myself.
DeusExMachina
05-04-11, 00:15
one thing about a trust is that it can only apply to items that have a title to them or if it is registered, etc in a person's name. A house has a title under a specific name. A car, a bank account. a registered rifle, etc. A ring or set of wrenches are not titled. There fore you cannot put them in a trust.
That is why along side a trust you have something called a pour-over will. That will is used to take care of anything that cannot be covered by a trust such as non-registered rifles, etc. Unless of course your state requires registration of such firearms.
You have no idea what you're talking about.
I wouldn't put non-NFA firearms on the trust.
As for passing them to your heirs, there's nothing to stop you from indicating something to the effect of "Heir A will split up the gun collection into two lots and Heir B will select a lot". That's how they did it in the Bible, anyway.In the Bible they didn't have serial numbers, background checks, gun control laws, probate courts, the ATF...
:(
That joke about God telling Noah He's calling off the flood because man already has destroyed things isn't far from the truth these days. :(
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