Originally Posted by
GeneralPurpose
What do you mean by double tax?
An ATF Form 5 can be used to transfer tax-free from a deceased individual to an heir. It doesn't require a trust. Trust salesmen have touted for years that one of the benefits of a trust is tax-free transfer upon death, but that's not unique to a trust.
ETA: I have a trust, there's a handful of advantages like being able to have multiple responsible parties as outlined above. I would assume it could also help if you get sued, divorced, etc. since the trust owns the item rather than you as an individual. When I got my trust, the advantage of doing so was avoiding the CLEO sign-off. Now I feel like it doesn't matter much if you own them as an individual or as a trust. I do think a trust is worth the ~$50 I paid for it. I don't think it's worth the ~$250 that some people have paid.
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