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The Range
NFA & Class III Discussion
Advantages of Trust
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<blockquote data-quote="tRidiot" data-source="post: 2858837" data-attributes="member: 9374"><p>For me, the real advantage of a trust was the ability to pass along my NFA items to my wife or son when he gets old enough, for them to be able to use them not in my presence, etc. My wife and I are both on the trust, my son will be when he comes of age, I might put my neighbor on there so he can use some of the stuff, as well. </p><p></p><p>For me, a trust was a no-brainer. If you have them in your personal name, if you die, they will need to be re-transferred at another $200 each, as well as all the paperwork and who knows how many months processing. It's just a hassle no family wants to deal with at a time like that, and keeping them without transferring would be illegal. I don't want my family to have that burden. I spent a coupla hundred on my trust and now for not just the length of my life, but into perpetuity my NFA items will be able to be managed quickly and easily by adding or dropping members from the trust.</p></blockquote><p></p>
[QUOTE="tRidiot, post: 2858837, member: 9374"] For me, the real advantage of a trust was the ability to pass along my NFA items to my wife or son when he gets old enough, for them to be able to use them not in my presence, etc. My wife and I are both on the trust, my son will be when he comes of age, I might put my neighbor on there so he can use some of the stuff, as well. For me, a trust was a no-brainer. If you have them in your personal name, if you die, they will need to be re-transferred at another $200 each, as well as all the paperwork and who knows how many months processing. It's just a hassle no family wants to deal with at a time like that, and keeping them without transferring would be illegal. I don't want my family to have that burden. I spent a coupla hundred on my trust and now for not just the length of my life, but into perpetuity my NFA items will be able to be managed quickly and easily by adding or dropping members from the trust. [/QUOTE]
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