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Thread: Using a Trust for "Non Gun" Stuff

  1. #1
    Senior Member shotgunshooter3's Avatar
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    Using a Trust for "Non Gun" Stuff

    With my interest in acquiring a can I am looking at getting my trust started. Fortunately where I live they are very popular and there is a plethora of information out there.

    What I am less informed about is if there is any advantage to listing other things that I own, such as property, photography equipment, jewelry, vehicle, etc under the trust.

    Is this ever done, and if so what are the advantages and disadvantages?
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  2. #2
    Senior Member knitepoet's Avatar
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    Re: Using a Trust for "Non Gun" Stuff

    No inheritance tax, doesn't have to go through probate (at least here in Alabama, I'm sure laws vary by location)
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    Rule #37: There is no “overkill”. There is only “open fire” and “I need to reload”.

  3. #3
    Moderator Wambli Ska's Avatar
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    Re: Using a Trust for "Non Gun" Stuff

    Quote Originally Posted by shotgunshooter3 View Post
    With my interest in acquiring a can I am looking at getting my trust started. Fortunately where I live they are very popular and there is a plethora of information out there.

    What I am less informed about is if there is any advantage to listing other things that I own, such as property, photography equipment, jewelry, vehicle, etc under the trust.

    Is this ever done, and if so what are the advantages and disadvantages?
    There are all kinds of Trusts and there are state laws that apply. Think of a Trust as an entity of its own that allows for joint ownership of property.
    "Attack rapidly, ruthlessly, viciously, without rest, however tired and hungry you may be, the enemy will be more tired, more hungry. Keep punching." General George S. Patton

  4. #4
    Senior Member NCFUBAR's Avatar
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    Re: Using a Trust for "Non Gun" Stuff

    Trusts offer great advantages and you really need an attorney to explain the non-NFA ins and outs for all the extras. As to an NFA trust, I personally would not include anything but NFA items since you can run more than one trust ... one for land, one for a kid's college and so on. One thing that sticks out in my mind (which does not understand legalities to well anyway) is the requirement of photos and fingerprints since the 41F changes in July of 2016 on NFA trust members. I am thinking it would muddy the waters of a trust containing thing non-NFA ... just an idea bouncing around in my empty head.
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