I was wondering if anyone has any experience on what exactly happens? Do the firearms still exist under the FFL company, or do they get put with the individual that held the FFL? The bigger question is what happens when I die? If they are part of the corp I imagine the new officers just continue to hold the firearms, vs. if I as an individual have them there is the question if they can be inherited. Thanks
Originally Posted By Stryker:
I was wondering if anyone has any experience on what exactly happens? Do the firearms still exist under the FFL company, or do they get put with the individual that held the FFL? The bigger question is what happens when I die? If they are part of the corp I imagine the new officers just continue to hold the firearms, vs. if I as an individual have them there is the question if they can be inherited. Thanks
If FFL was individual, they stay with individual since his/her name is on the F3. Likewise, of FFl was corp, they stay with the corp.
When an individual dies, they can only go to another entity that can own pre-samples. So generally they cannot be inherited unless the beneficiary has FFL/SOT of some kind.
Thanks for the quick reply. So the sensible thing then is keep them in the Corp so the children could just be officers of the Corp.
