I tried to see if this was already discussed, but couldn't find it. Basically I've heard of NFA trusts so you can avoid tax stamps, etc. when you die and want to pass on AOWs, suppressors, full-auto firearms etc. Can these type of trusts contain any items or must they be NFA-related?
In other words, can I set up a trust that has "AK-style" rifles, "high-capacity" magazines, and other potentially banable items in it? If I understand how these trusts work, the trust owns the banned items (speaking of a possible future), so when I die nothing is actually "transferred." Instead, my heirs are just added to the trust (which maintains ownership) and my heirs can use the items as much as they want. Does that sound right?
In other words, can I set up a trust that has "AK-style" rifles, "high-capacity" magazines, and other potentially banable items in it? If I understand how these trusts work, the trust owns the banned items (speaking of a possible future), so when I die nothing is actually "transferred." Instead, my heirs are just added to the trust (which maintains ownership) and my heirs can use the items as much as they want. Does that sound right?