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Thread: No trust...what happens if I die?

  1. #1
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    No trust...what happens if I die?

    I currently own 2, soon to be 3, SBRs. Lately I've been doing some estate planning. If I were to pass, what would the process be for my wife? Or rather, what options would she have?

    I'm concerned that by not having a trust I put her in a difficult position. However I have confirmed that in order to transfer to a trust (once I pay to get that done) I'd have to transfer each firearm to the trust at a cost of $200 a piece.

    Is there a specific form or process a beneficiary must go through in the event that the owner passes?

    Thanks!
    Best Regards,
    28_days

  2. #2
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    https://www.atf.gov/files/publicatio...-chapter-9.pdf

    Quote Originally Posted by 28_days View Post
    I currently own 2, soon to be 3, SBRs. Lately I've been doing some estate planning. If I were to pass, what would the process be for my wife? Or rather, what options would she have?

    I'm concerned that by not having a trust I put her in a difficult position. However I have confirmed that in order to transfer to a trust (once I pay to get that done) I'd have to transfer each firearm to the trust at a cost of $200 a piece.

    Is there a specific form or process a beneficiary must go through in the event that the owner passes?

    Thanks!



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  3. #3
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    Thank you. So I believe this is the selection that applies:

    Although these distributions are not treated as “transfers” for
    purposes of the NFA, Form 5 must be filed by an executor or administrator to register a firearm
    to a lawful heir and the form must be approved by ATF prior to distribution to the heir. The
    form should be filed as soon as possible. However, ATF will allow a reasonable time to arrange
    for the transfer. This generally should be done before probate is closed. When a firearm is being
    transferred to an individual heir, his or her fingerprints on FBI Forms FD-258 must accompany
    the transfer application. The application will be denied if the heir’s receipt or possession of the
    firearm would violate Federal, State, or local law. The law enforcement certification on the form
    need not be completed. The form should also be accompanied by documentation showing the
    executor’s or administrator’s authority to distribute the firearm as well as the heir’s entitlement
    to the firearm. Distributions to heirs should not be made until Forms 5 are approved. Executors
    and administrators are not required to have estate firearms registered to them prior to distribution
    to lawful heirs.

    - - - - -

    So I guess my question is, who holds the firearms in the meantime? E.G. I pass away, do they have to go to someone as a temporary hold or can my wife continue to possess them until the Form 5 is approved?

    I realize these are odd questions, but I'm working on doing some estate planning and want to make sure that all of this info is documented.

    Thanks!
    Best Regards,
    28_days

  4. #4
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    Thanks for posting this information. I had always assumed that a $200 transfer would apply for each NFA item I have. Now knowing that it doesn't, I'll stick with doing the transfers as an individual.

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    Quote Originally Posted by Bret View Post
    Thanks for posting this information. I had always assumed that a $200 transfer would apply for each NFA item I have. Now knowing that it doesn't, I'll stick with doing the transfers as an individual.
    That's one of those selling points that "gun trust lawyers" use, as most people don't realize they transfer tax free on a Form 5.

    Quote Originally Posted by 28_days View Post
    Executors and administrators are not required to have estate firearms registered to them prior to distribution to lawful heirs.

    - - - - -

    So I guess my question is, who holds the firearms in the meantime? E.G. I pass away, do they have to go to someone as a temporary hold or can my wife continue to possess them until the Form 5 is approved?
    You answered your own question...but I'll point it out for you. Just make sure she's the executor/administrator of the will.
    Last edited by BigWaylon; 05-21-15 at 16:25.

  6. #6
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    Quote Originally Posted by BigWaylon View Post
    That's one of those selling points that "gun trust lawyers" use, as most people don't realize they transfer tax free on a Form 5.


    You answered your own question...but I'll point it out for you. Just make sure she's the executor/administrator of the will.
    Ha, figures!

    Just making sure. I don't have a will yet at this point, maybe in the future once we start a family.

    Thank you--this is great info! I too assumed it was $200 per to transfer.
    Best Regards,
    28_days

  7. #7
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    There are reasons for having a trust. Aside from the fact that there is no need to do a Form 5 in the event of a death, anyone listed on the trust may possess the items. When I was overseas this meant that my wife had access to my safe, and the contents inside. She could also possess them without violating the law.

    The trust also helps with issues of probate as I recall as well. When in doubt consult a KNOWLEDGEABLE attorney who does trusts and evaluate the merits.



    Owner/Instructor at Semper Paratus Arms

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  8. #8
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    If you die without a Will you come under your states intestate rules. Your spouse has priority to serve as the personal representative/ executor and is covered by the rules cited above. The problem is you have not named an heir for the firearm/suppressor. The intestate rules make your spouse the primary heir, your kids next, etc. If this is not what you want you need to put together a will at a minimum. You went to a lot of trouble to get your SBR, this is the easy part to finish.

  9. #9
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    Quote Originally Posted by wcjmt View Post
    If you die without a Will you come under your states intestate rules. Your spouse has priority to serve as the personal representative/ executor and is covered by the rules cited above. The problem is you have not named an heir for the firearm/suppressor. The intestate rules make your spouse the primary heir, your kids next, etc. If this is not what you want you need to put together a will at a minimum. You went to a lot of trouble to get your SBR, this is the easy part to finish.
    That's exactly what I want. We are quite young, and haven't had a need for a will up until now, I'll get one completed within the next year or so to make sure it's air tight. Thanks for the info!
    Best Regards,
    28_days

  10. #10
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    Quote Originally Posted by Iraqgunz View Post
    There are reasons for having a trust. Aside from the fact that there is no need to do a Form 5 in the event of a death, anyone listed on the trust may possess the items. When I was overseas this meant that my wife had access to my safe, and the contents inside. She could also possess them without violating the law.

    The trust also helps with issues of probate as I recall as well. When in doubt consult a KNOWLEDGEABLE attorney who does trusts and evaluate the merits.

    A Beneficiary of a trust must fill out a form 5 to put guns from a trust in their name.
    "Not every thing on Earth requires an aftermarket upgrade." demigod/markm

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