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9/22/2017 12:11:25 AM
Posted: 9/13/2010 1:02:53 PM EDT
I have a question. I have 2 SBR's... The stamps are in my name only... when I got them... didnt know about trust's ect... Im having some percedures done and if I drop dead... what does my wife have to do with the SBR's? Give them to the FEDs? She wont have a use for them... Can she sell them?
Link Posted: 9/13/2010 1:11:02 PM EDT
Put them into your will- The executor of your will can file the Form 5 to transfer them TAX FREE to your wife. Then yes, she can sell them.

Hope everything goes well for you buddy.
Link Posted: 9/13/2010 1:15:35 PM EDT
Or your executor can sell them directly out of your estate, saving the hassle of transferring them to your wife (even though it's tax free).
Link Posted: 9/13/2010 3:48:49 PM EDT
Or what usually happens is someone takes your NFA toys to a class 3 dealer and he pretends they arent worth anything and gives the unknowing executor less than 20% of what its really worth.
Link Posted: 9/13/2010 5:43:27 PM EDT
[Last Edit: 9/13/2010 5:52:00 PM EDT by TitleII]
Easiest thing would be to put me in your will! I can take care of all the paperwork for your executer at no charge.

Now in all seriousness, God speed on a quick recovery!!

Worst case your executer calls Martinsburg WV to the NFA branch and they talk them though the whole thing. They are a good bunch of people. Don't expect to get top dollar, no one wants to wait 4 months and buy a used gun, when they can build their own on a form 1.

ETA...in a pinch the executor could remove the uppers and sell them as non-nfa items (pistol uppers) and strip the loweres and give them to the ATF. A lot quicker and probably about the same selling price without the paperwork. And of course there are a lot of other ways in between. Keep in mind that with the uppers removed and no longer in the executers control the lowers can be treated as titlle I firearms.
Link Posted: 9/14/2010 1:08:07 AM EDT
Originally Posted By loamy:
Or what usually happens is someone takes your NFA toys to a class 3 dealer and he pretends they arent worth anything and gives the unknowing executor less than 20% of what its really worth.


which means that you need to write a letter to the executor explaining the process of transfering them and stating what current market value of the items are. Explain where they can find a legal market to sell them (subguns.com, AR15.com, etc) if they don't want to sell them to a dealer at a discount.
Link Posted: 9/14/2010 4:42:49 AM EDT
Originally Posted By loamy:
Or what usually happens is someone takes your NFA toys to a class 3 dealer and he pretends they arent worth anything and gives the unknowing executor less than 20% of what its really worth.

Only if the dealer is a scumbag - and sadly, I know of a few. If there's a dealer with a good reputation in your area who won't rip off the heirs, include that information with your estate documents.
Link Posted: 9/14/2010 5:55:17 PM EDT
[Last Edit: 9/14/2010 5:56:08 PM EDT by EKUJustice]
+1 on the above.
Link Posted: 9/14/2010 6:27:48 PM EDT
Its so discouraging to know theres alot of class 3 dealers that are scumbag snakes. Maybe they think they are above the law as most local LE know nothing about NFA?
Link Posted: 9/14/2010 8:27:28 PM EDT
Donate them to the NRA - they will come get them and take care of everything.
Link Posted: 9/15/2010 7:15:50 AM EDT
I would go ahead and fill out the Form 5's the way you want them and include them with your will papers, that way after you die all your exectutor has to do is sign them and send them in. It will be a tax free transfer.
Link Posted: 9/15/2010 8:15:11 AM EDT
Originally Posted By bigcbass:
I would go ahead and fill out the Form 5's the way you want them and include them with your will papers, that way after you die all your exectutor has to do is sign them and send them in. It will be a tax free transfer.


and possibly have them rejected by the ATF for not being the current updated forms depending on how long the OP lives!
Link Posted: 9/15/2010 8:24:10 AM EDT
Link Posted: 9/15/2010 12:28:20 PM EDT
Originally Posted By ds762:
Originally Posted By bigcbass:
I would go ahead and fill out the Form 5's the way you want them and include them with your will papers, that way after you die all your exectutor has to do is sign them and send them in. It will be a tax free transfer.


and possibly have them rejected by the ATF for not being the current updated forms depending on how long the OP lives!


so just update the Form 5 from time to time so that you have a fairly current version of the form.
Link Posted: 9/15/2010 12:49:03 PM EDT
Do form 5s require fingerprints?
Link Posted: 9/15/2010 1:02:24 PM EDT
Link Posted: 9/15/2010 2:53:43 PM EDT
I keep form 5s for my NFA filled out as much as they can be and in the safe. Makes it easier for the ones ya leave behind.
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