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Posted: 10/23/2016 8:26:53 PM EDT
[#1]
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Posted: 10/23/2016 8:27:29 PM EDT
[#2]
nope, you would have to do a form 4 and all associated paperwork, pay the 200 dollar transfer tax to put that in the trust. there is no way of getting around that.
the better way to go, if you want to pass it on to him, is to make a will and have that put in your will to him. the only transfer that will ever happened there is when you die and he does a tax-exempt form 5 transfer. |
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Posted: 10/23/2016 9:48:33 PM EDT
[#3]
Quote HistoryQuoted: nope, you would have to do a form 4 and all associated paperwork, pay the 200 dollar transfer tax to put that in the trust. there is no way of getting around that. the better way to go, if you want to pass it on to him, is to make a will and have that put in your will to him. the only transfer that will ever happened there is when you die and he does a tax-exempt form 5 transfer. So if I understand you correctly...even though it was filed as an individual, he could still maintain the firearm upon my death via form 5 without paying a tax? As long as it is stipulated in my will? |
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Posted: 10/23/2016 10:19:54 PM EDT
[#4]
Quote HistoryQuoted:
So if I understand you correctly...even though it was filed as an individual, he could still maintain the firearm upon my death via form 5 without paying a tax? As long as it is stipulated in my will? Quote HistoryQuoted:
Quoted:
nope, you would have to do a form 4 and all associated paperwork, pay the 200 dollar transfer tax to put that in the trust. there is no way of getting around that. the better way to go, if you want to pass it on to him, is to make a will and have that put in your will to him. the only transfer that will ever happened there is when you die and he does a tax-exempt form 5 transfer. So if I understand you correctly...even though it was filed as an individual, he could still maintain the firearm upon my death via form 5 without paying a tax? As long as it is stipulated in my will? Correct. I would also like to transfer some things I had as an individual to my trust, but it's a waste of a tax stamp compared to just buying another thing. |
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Posted: 10/23/2016 10:23:10 PM EDT
[#5]
I appreciate the help.
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Posted: 10/24/2016 7:44:43 AM EDT
[#6]
Quote HistoryQuoted:
So if I understand you correctly...even though it was filed as an individual, he could still maintain the firearm upon my death via form 5 without paying a tax? As long as it is stipulated in my will? It transfers tax free to your legal heir...could be the "normal" heir (like a child), or whoever you name in the will, including an organization/entity/etc. |
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Posted: 10/24/2016 8:20:23 PM EDT
[#7]
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