Do I have to name a beneficiary when I send in my trust to get my tax stamp, or can I wait until after I get approval and add my beneficiaries later? Thanks
Suppressors Form 4 trust question
- Thread starter downcoyote
- Start date
In short: You can add 'em before and/or after. The "beneficiary upon death" doesn't need to submit any documentation, that's the only beneficiary that doesn't, but any "responsible persons" or persons listed as "lifetime beneficiaries" that have access to and/or "can enjoy benefits of the trust" have to be submitted. Trustees and grantors always have to be submitted. The beneficiary upon death doesn't have to be listed because upon death that person will have to setup their own trust or otherwise maintain the existing one and become grantor/trustee and thus a responsible person.
So what if your "lifetime beneficiary" has access and is a responsible person but you don't want to go through the hassle of submitting them? Revoke his benefits, then you can add that person back later. Technically a trustee can also be treated in this manner by a grantor but if you do that time and again I'm sure the ATF will frown upon it. ALL grantors will have to submit documents no matter what.
IME, it's best to have one grantor and that grantor also be the only trustee. Otherwise you'll wind up like me, get a surprise divorce and be forced to remove them later. If they refuse to sign off on it, it can be trouble and a real hassle. Luckily mine signed off and restating the trust was pretty simple then. If she weren't a grantor, I could have removed her myself.
41F changed some things and it may be a good idea to talk to your attorney and see if there are any updates or changes that need be made. Good luck!
So what if your "lifetime beneficiary" has access and is a responsible person but you don't want to go through the hassle of submitting them? Revoke his benefits, then you can add that person back later. Technically a trustee can also be treated in this manner by a grantor but if you do that time and again I'm sure the ATF will frown upon it. ALL grantors will have to submit documents no matter what.
IME, it's best to have one grantor and that grantor also be the only trustee. Otherwise you'll wind up like me, get a surprise divorce and be forced to remove them later. If they refuse to sign off on it, it can be trouble and a real hassle. Luckily mine signed off and restating the trust was pretty simple then. If she weren't a grantor, I could have removed her myself.
41F changed some things and it may be a good idea to talk to your attorney and see if there are any updates or changes that need be made. Good luck!
MHO, it’s best to fill it in before the approval. If you die without a Will you come under your states intestate rules. Your spouse has priority to serve as the personal representative/ executor and is covered by the rules cited above. The problem is you have not named an heir for the firearm/suppressor. The intestate rules make your spouse the primary heir, your kids next, etc. If this is not what you want you need to put together a will at a minimum. You went to a lot of trouble to get your SBR, this is the easy part to finish.
He's talking about whether or not he needs to list them with respect to prints and photos.
If you are grantor and trustee and have no other grantor or trustee, listing the "beneficiary upon death" is sufficient. This person will not need prints and photos. A will is nice but the trust is a "person" by law and that "person" listed who gets what upon death with respect to the trust's assets. An executor will have to follow the trust, they can't make shit up.
Any lifetime beneficiaries must do photos and prints unless you remove them prior to filing. They are considered responsible persons and if they have access to your items, then yes, they are responsible and you need prints and photos.
That's why it's best to keep the trust as simple as possible. Always call an attorney with any questions too.
If you are grantor and trustee and have no other grantor or trustee, listing the "beneficiary upon death" is sufficient. This person will not need prints and photos. A will is nice but the trust is a "person" by law and that "person" listed who gets what upon death with respect to the trust's assets. An executor will have to follow the trust, they can't make shit up.
Any lifetime beneficiaries must do photos and prints unless you remove them prior to filing. They are considered responsible persons and if they have access to your items, then yes, they are responsible and you need prints and photos.
That's why it's best to keep the trust as simple as possible. Always call an attorney with any questions too.
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