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The Range
NFA & Class III Discussion
Trust questions
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<blockquote data-quote="KOPBET" data-source="post: 717524" data-attributes="member: 4153"><p>I know what you were trying to say, I think you just had the 'trustee" term used incorrectly. A trustee role is not involved in ownership.</p><p></p><p>Obviously the grantor would still have to be legally able to possess the NFA item in the first place. Same goes for the beneficiary if the grantor were to die. No different than if an individual owner were to possess and then die (except for probate). Everyone would still have to be legal to own/possess. Therefore, I would expect that the trust's "trustee" had damn well make sure the beneficiary is legally permitted to receive the item prior to physically transfering to that beneficiary, and, I would also expect that the transfer would still have to be processed through the BATFE. Thus, I would suspect the chances of a prohibited person obtaining an NFA item are no better or worse with a trust.</p><p></p><p>Trusts fall under contract law and not probate law or inheritance, so heirs have little to do with eventual ownership. So it would seem best to have more than one beneficiary named in the event the first beneficiary was deceased as well.</p></blockquote><p></p>
[QUOTE="KOPBET, post: 717524, member: 4153"] I know what you were trying to say, I think you just had the 'trustee" term used incorrectly. A trustee role is not involved in ownership. Obviously the grantor would still have to be legally able to possess the NFA item in the first place. Same goes for the beneficiary if the grantor were to die. No different than if an individual owner were to possess and then die (except for probate). Everyone would still have to be legal to own/possess. Therefore, I would expect that the trust's "trustee" had damn well make sure the beneficiary is legally permitted to receive the item prior to physically transfering to that beneficiary, and, I would also expect that the transfer would still have to be processed through the BATFE. Thus, I would suspect the chances of a prohibited person obtaining an NFA item are no better or worse with a trust. Trusts fall under contract law and not probate law or inheritance, so heirs have little to do with eventual ownership. So it would seem best to have more than one beneficiary named in the event the first beneficiary was deceased as well. [/QUOTE]
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