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The Range
NFA & Class III Discussion
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<blockquote data-quote="KOPBET" data-source="post: 717738" data-attributes="member: 4153"><p>If you're using a trust, it might be worthwhile consulting a lawyer since the Form 5 specifically states its use is for transfers to heirs, as heirs are defined by your state. To me, the term heir would imply the process of inheritance, wills and probate, but a trust would have declared a beneficiary (which is not necessarily an heir) and would bypass wills and probate so I have to wonder whether or not a Form 5 would technically be applicable. Maybe someone here knows for sure.</p></blockquote><p></p>
[QUOTE="KOPBET, post: 717738, member: 4153"] If you're using a trust, it might be worthwhile consulting a lawyer since the Form 5 specifically states its use is for transfers to heirs, as heirs are defined by your state. To me, the term heir would imply the process of inheritance, wills and probate, but a trust would have declared a beneficiary (which is not necessarily an heir) and would bypass wills and probate so I have to wonder whether or not a Form 5 would technically be applicable. Maybe someone here knows for sure. [/QUOTE]
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