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Posted: 1/8/2017 2:44:26 PM EDT
Does anyone have experience being the executor of a gun trust? I'm mainly looking for information on what happens or what is expected of the executor after that person passes.
Link Posted: 1/8/2017 3:19:31 PM EDT
[#1]
The language of the trust itself explicitly states what happens when the terms of the trust are to be executed, at least if it was properly formed.

The executor reads the trust and does what it says to do, therein. Usually, this will be to disburse the trust property to the trust beneficiaries. In the case of NFA assets, that will likely mean filing the tax-free Form(s) 5 to transfer the property to the designated beneficiary(ies), and holding on to the properties in the name of the trust until those forms come back approved. In the case of other real property, that might be filing transfers of deeds with the local government, reporting disbursement of funds, etc.
Link Posted: 1/8/2017 3:42:43 PM EDT
[#2]
Thank you.

My knowledge of trusts and how they work is pretty much nonexistent. How would the disbursement/transfer of regular Title 1 weapons work? Are the trustees/beneficiaries simply able to take possession?
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