Age limits on trust?

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  • nick112288

    Plinker
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    0   0   0
    Feb 11, 2015
    27
    1
    Lawrenceburg
    So before I spend money to consult a lawyer on this, I'm hoping your collective wisdom can give me an answer.

    So I purchased my first suppressor, on an impulse, without doing a trust (I've had a habit in the past of talking myself out if it if I gave myself time to think).

    No big deal because this is only 1 suppressor, for now.

    Now if I decide to purchase more or other NFA items I will do a trust so that family members can use the item without me.

    My concern is my family right now is my wife (obviously ok), but then my 8 year old daughter, and 3 & 2 year old sons.

    Can I even create a trust for NFA items with the children in it? Is there an age limit associated with these items in a trust? Can I simply create the trust, then add them at a later date if there is a restriction on age?

    Thanks for all your wisdom!
     

    Bfish

    Grandmaster
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    Feb 24, 2013
    5,801
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    Contact Marc Halata. As this may not be 100%.
    But the short answer is you can create a trust and they can be a beneficiary (inherit). However, they can not be part of it to possess items until they are 21. You can amend the trust though at that time and add them to it (as well as anyone else you may want to add) so they can then possess the items without your presence.
     
    Last edited:

    Trigger Time

    Air guitar master
    Rating - 98.6%
    204   3   0
    Aug 26, 2011
    40,112
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    SOUTH of Zombie city
    He doesn't have a trust yet.
    Lol wow I feel like an idiot. Read this after it was posted thismorning. Noticed no one had came to give him an answer so I responded without rereading. Dumb move :):

    OP, bfish just answered it most likely the right way although so many trusts are different thats why I'd consult the lawyer. They arent gonna charge you to answer a question like that. If so move to a different one.
    This is how mine is. My children are beneficiaries and in the event of my death my co trustee (wife) will take control until they become 18 or 21 for NFA items, and become in control.
     

    Hoosier45

    Snowman
    Site Supporter
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    143   0   0
    Aug 13, 2009
    10,202
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    Eastbound and down
    Lol wow I feel like an idiot. Read this after it was posted thismorning. Noticed no one had came to give him an answer so I responded without rereading. Dumb move :):

    OP, bfish just answered it most likely the right way although so many trusts are different thats why I'd consult the lawyer. They arent gonna charge you to answer a question like that. If so move to a different one.
    This is how mine is. My children are beneficiaries and in the event of my death my co trustee (wife) will take control until they become 18 or 21 for NFA items, and become in control.

    This is also how my trust is set up.
     

    Hotrod29

    Plinker
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    Aug 6, 2016
    122
    18
    NWI
    Just amend the trust to make them trustees when they become adults. The flexibility of a trust is the benefit
     
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