Originally Posted by
bedbugbilly
Artful - in regards to the passing of it on in a Trust . . .
I'm assuming that is only able to be done if the Trust is continued on? In the case of many Trusts, they are "closed" and a final tax return done. The Trust allows the estate and assets to avoid Probate.
While the silencer may be able to be passed on in regards to the Trust, the Trust, which is treated like an individual, will have to continue to file tax returns both Federal and in most states until it is closed. While the individual Trust maybe continued on for other benefits of those involved,I would hope that no one would do it just to avoid the expense/paperwork in regards to the silencer if there is any? I'm not a lawyer but I have had experience with Trusts as a Trustee.
So, if an individual had a Trust and all their assets were in the Trust - and say they had more than one son/daughter . . . could the silencer be "passed on" to a selected heir through the individual's "Will"?
Not trying to e confrontational at all - I saw you post in regards to passing it on and it peaked my curiosity. I have a hard time thinking that the guvment would have some way of squeezing a tax out of it somehow upon the death of the original owner who chooses to "pass it on"?
Thanks!
In regards to my post about silencers seeming (to me) to be a thing for the younger crowd - I meant no offense by that at all. It just seems to me that when I have heard conversations in person in regards to them, it has been younger folks. Personally, I have no need for one due to what and how I shoot but everyone's circumstances are different - regardless of age. I can see how one would be handy to have for those who have to keep the noise down or say, those who hunt prairie dogs and such - just two examples of many I'm sure.
Jim