NFA trust question

[signal4l]

A friend of mine has a rather large collection of suppressors. He is getting older and wants to make sure they don't end up destroyed after his eventual passing. They are in a trust. He would like to add a friend to the trust as a beneficiary.

How does this work?. In the event of my friends passing does the beneficiary simply take possession of the cans? Does he have to undergo a background check and pay a transfer fee?

Thanks

[ndmiller]

Discuss with proper trust attorney as he'll want to do this correctly even if it cost $.

[georgeib]

Depending on the state in which your friend lives, adding or removing additional trustees or beneficiaries is as simple as creating an Amendment and tacking it on to the back of the trust. Some states require that this Amendment be notarized whereas others, like Georgia, do not.

Either way, no additional taxes or background checks are necessary. That's the main advantage of a trust.

[Bret]

Why would the suppressors get destroyed after his passing? Can the executor of the estate not be given the power to dispose of items in the trust? If there is nobody else in the trust, why does he even have one?

[lonestardiver]

The trust should have a beneficiary and the executor of the estate/will can’t change that since the trust owns the NFA item(s).

[signal4l]

He has a current beneficiary who is old and in poor health. My friend's wife has no interest in guns. No children or relatives who would make use of the cans

[lonestardiver]

What about friends?
Otherwise I am unsure of a path to head down unless something could be set up with a local gun store that deals with NFA items.

[HKGuns]

I am going through this right now.

I had an NFA trust before the fingerprinting rules changed and the definition of responsible person was established. The way my trust was written, I'd have to get 10 people fingerprinted every time I bought something.

Ridiculous.

In order to avoid that, I am leaving myself as the sole person on the NFA trust and putting the beneficiaries of said trust in my main estate trust. Keeps it simple on all fronts.

Regardless, he will need to get an attorney involved to do everything and ensure it is set up correctly.