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Posted: 5/23/2020 10:53:17 PM EDT
[#1]
They transfer tax free (using a Form 5) to your legal heir.
You can set up a trust for futures ones. It would cost you $200 apiece to transfer the existing ones into the trust. |
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Posted: 5/23/2020 10:53:52 PM EDT
[#2]
Quoted: Will my family have to pay more taxes when I eventually pass them on.? Thanks... No, there is a form to transfer them to your heir without the $200 fee |
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Posted: 5/23/2020 11:32:53 PM EDT
[#3]
Yeah I'm very glad I was told about this recently. This was the only reason I wanted a trust and it's been holding me up from getting NFA goodies
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Posted: 5/23/2020 11:51:46 PM EDT
[#4]
Question about the form 5 though, can these be filled out and distributed with your will? Do you need to do these before you die, or do they do it after?
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Posted: 5/24/2020 12:52:16 AM EDT
[#5]
Quote HistoryQuoted: Question about the form 5 though, can these be filled out and distributed with your will? Do you need to do these before you die, or do they do it after? Nothing wrong with including completed ones with EXAMPLE marked across them however. |
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Posted: 5/24/2020 2:05:22 AM EDT
[#6]
Great info.... thanks so much...!
Arfcom comes through once again |
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Posted: 5/24/2020 8:03:06 AM EDT
[#7]
Quote HistoryQuoted: Question about the form 5 though, can these be filled out and distributed with your will? Do you need to do these before you die, or do they do it after? You could absolutely fill them out ahead of time. I’d say that’s the best option. Less burden on those you leave behind. There would be fields (like dates) that you might leave blank for now. Leave a stack of existing forms, along with partially filled out Form 5s, and instructions on how to wrap up the process. |
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