Bequeathing NFA items?

[brucea4]

Hi gang,

 

When leaving your family your NFA items other than noted in one's will is there anything else that should be done? In other words, what would your, say for instance, your wife have to do to legally have them transferred to her so she could keep or sell them?

[RoscoeTurner]

I keep instructions how to transfer along with contact names and phone numbers in a safe deposit box for my executor. In those instructions are who the guns go to by serial number, which ones are transferable and which ones are dealer samples. Also included are the necessary forms to make the transfers along with NFA Branch contract information and the contract information for friends who would be able to assist. The instructions are written with the idea that whoever is left to deal with this has no knowledge of the guns or the process so as to hopefully cover any questions that may come up. Included in the packet are all the original copies of F3s and F4s. This packet is regularly updated as issues change and firearms move in and out of my collection.

[giantpune]

Hi gang,

 

When leaving your family your NFA items other than noted in one's will is there anything else that should be done? In other words, what would your, say for instance, your wife have to do to legally have them transferred to her so she could keep or sell them?

Short answer is she needs to file a form 5 for a tax free transfer.

 

Anything you can provide to help her correctly fill out the form 5 will speed up the process and make it easier on her during what (you hope) will be an already tough time. Maybe even pre-fill out the form 5 so she only has to sign and date it? Or leave her an example copy already filled out so she can just copy it herself.

[huggytree]

Or transfer your guns into a trust and get your family members on the trust. Then there are no worries or instructions

 

Its how Im handling it

 

As I age I plan on handing them off to my kids. Die with just a couple

Edited May 10, 2019 by huggytree