Hello everyone,
I was wondering if someone can point me in the right direction as I'm having some trouble finding the answer on my own.
I am listed in a trust with my father, and he is looking to sell me one of his SBRs that is in the trust. I am new to the paperwork side of NFAs and he does not know the process, and we are wondering how you would go about transferring an NFA item from one member of a trust to another. As far as I understood it, the trust would be enacted and transfer if something were to happen to him, but we don't know how it would work since we are both still alive and well.
Thank you for your time, I'm looking to grow my understanding and hope this thread could help someone else out in the future.
I was wondering if someone can point me in the right direction as I'm having some trouble finding the answer on my own.
I am listed in a trust with my father, and he is looking to sell me one of his SBRs that is in the trust. I am new to the paperwork side of NFAs and he does not know the process, and we are wondering how you would go about transferring an NFA item from one member of a trust to another. As far as I understood it, the trust would be enacted and transfer if something were to happen to him, but we don't know how it would work since we are both still alive and well.
Thank you for your time, I'm looking to grow my understanding and hope this thread could help someone else out in the future.