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Short-Barreled Rifle (SBR) Estate Issues

Fairlane66Fairlane66 Member Posts: 338 ✭✭
edited April 2018 in Ask the Experts
I own a short-barreled rifle for which I have a federal stamp. I don't want to get rid of it, but thinking to the future, will having this rifle in my collection cause an estate problem upon my death? Are there legal remedies to negate estate issues for an SBR? I've looked on line and have found lots of info about applying for an SBR tax stamp, but little about transferring ownership upon my passing. Hopefully I have decades of life left, so I plan to hang onto the rifle as long as possible. Sure, I know I can sell it to someone before death comes calling, but what if it's still in the safe when my time comes. Any thoughts or recommendations?
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Comments

  • mark christianmark christian Member Posts: 24,443 ✭✭✭✭
    edited November -1
    Upon your demise, any legally registered NFA weapon can be transferred tax free to a legal heir using ATF Form 5. Pick your heir carefully because all NFA rules still apply. If the heir can't met NFA ownership requirements or lives in a state where the transfer would not be legal, the ATF will deny the transfer.
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  • nmyersnmyers Member Posts: 16,892 ✭✭✭✭
    edited November -1
    In most states, you will designate in your will the personal representatives who will take care of your estate; choose wisely.

    If you die intestate, or don't designate your PR's, the lawyer will take possession of your NFA items & dispose of them according to law. He will bill your estate for his time at his usual hourly rate.

    If you don't have a will, choose a good lawyer to prepare one for you. Many states have unusual laws.

    Neal
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  • navc130navc130 Member Posts: 1,261 ✭✭✭
    edited November -1
    YOU HAVE TO MAKE TWO DECISIONS: (1) how to dispose of your collection, (2) when to dispose of it (or start to). The SBR is only a small part of the issue. It sounds like you have plenty of time to make a plan. Sorry this does not directly answer your question, but I thought I would give my experience.
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  • MobuckMobuck Member Posts: 14,146 ✭✭✭✭
    edited November -1
    That's why our NFA items are owned by the family trust. When Grandsons reach legal age, they will replace our spouses on the trust.
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  • nononsensenononsense Member Posts: 10,928 ✭✭✭✭
    edited November -1
    Fairlane66,

    With all due respect to our experts here on AtE, I suggest the following:

    With any issues involving trusts, wills or other legal tools involving your family and friends and especially FIREARMS:

    Research and hire a great lawyer to write up all of the tools regarding your possessions and the disbursement of them. Get the real experts to write those tools correctly, pay any fees involved and rest assured that the courts will handle those tools properly.

    This is NOT an area where FREE advise will stand up in a court of law. Yes you will have to pay for the services rendered but you will have everything in place to accomplish your final wishes without arguments. Do NOT rely on the honesty of family members to carry out your wishes, get it in a legally binding document. Then rest and be assured that everything will come off without a hitch.

    Best.
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