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The Range
NFA & Class III Discussion
Starting NFA Trust
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<blockquote data-quote="Buzzgun" data-source="post: 3068065" data-attributes="member: 4715"><p>That's not really an advantage because NFA items transfer tax free to the heir on a form 5 and the executor of the will can legally possess the items until they are transferred to the heirs.</p><p></p><p><a href="https://www.atf.gov/firearms/docs/form/form-5-application-tax-exempt-transfer-and-registration-firearm-atf-form-53205/download" target="_blank">https://www.atf.gov/firearms/docs/form/form-5-application-tax-exempt-transfer-and-registration-firearm-atf-form-53205/download</a></p><p></p><ol> <li data-xf-list-type="ol">Exemptions from Transfer Tax. A registered firearm may be transferred without payment of the transfer tax if:<br /> <br /> (1) it is unserviceable; (See definition 1m)<br /> (2) it is being transferred to or from the United States, or any department,<br /> independent establishment or agency thereof;<br /> (3) it is being transferred to or from any State or possession of the United<br /> States or any political subdivision thereof, or any official police<br /> organization of such government entity; or<br /> (4) <strong>it is being transferred to a beneficiary of an estate</strong>. <br /> </li> </ol></blockquote><p></p>
[QUOTE="Buzzgun, post: 3068065, member: 4715"] That's not really an advantage because NFA items transfer tax free to the heir on a form 5 and the executor of the will can legally possess the items until they are transferred to the heirs. [URL]https://www.atf.gov/firearms/docs/form/form-5-application-tax-exempt-transfer-and-registration-firearm-atf-form-53205/download[/URL] [LIST=1] [*]Exemptions from Transfer Tax. A registered firearm may be transferred without payment of the transfer tax if: (1) it is unserviceable; (See definition 1m) (2) it is being transferred to or from the United States, or any department, independent establishment or agency thereof; (3) it is being transferred to or from any State or possession of the United States or any political subdivision thereof, or any official police organization of such government entity; or (4) [B]it is being transferred to a beneficiary of an estate[/B]. [/LIST] [/QUOTE]
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