TexasCHLforum.com

From a curiosity standpoint, I think it would be interesting to see both of the trusts in a side-by-side comparison, to see where they differ, where they are similar, etc.

Carry-a-Kimber wrote:

03Lightningrocks wrote: I am wondering how that law would play into a situation where the firearm is registered to a person who dies? Somehow it seems odd that the heirs would become instant felons. That would be a pretty serious risk for anyone to take. One never knows when their ticket is going to get punched. Thanks for the info. I have no immediate plans to aquire full auto but I do plan to get one at some point and would hate to put my family in a situation where my death results in them becoming instant felons.

If an individual passes and wills a Title II firearm/device to someone, the property would have to be kept by a Class III FFL/SOT until the paperwork went through. The heir would have to pay for a new $200 transfer tax stamp. If you have a trust and pass, the items. In thd trust are left to the remaining trustees, no need to pay transfer.

Avoiding the $200 transfer tax stamp alone seems like a good idea (upon death)...along with not having the hassle of the extra paperwork...of course, I'm guessing that to put my current class III item *into* a trust that the *trust* would have to pay the $200 transfer tax...right? Seems like a case of "pay me now or pay me later"...but for someone who does not *yet* have any class III items this would seem to be a no-brainer (getting a an NFA trust). I could also see how this would work good for friends/family members who want to help "contribute" to the "acquisition/tax stamp fund" - you know, splitting up the cost, etc.