To TRUST or not to TRUST

[poff09]

That is the question (sorry...I couldn't help myself)

I'm not the most well versed on the upcoming changes to NFA procedures so I was kinda hoping to have it put in perspective...the few things I've read make it sound like the process is about to become a whole lot more work for trusts and less work for individual (plz feel free to correct if I'm wrong)...my understanding is that most of these changes will not go into effect for 180 days after approval???...my question is..is it worth it to go spend the time and money on a trust and get as much approved in the next 180 days as possible or just wait it out and do individual if it truly becomes easier??

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[Signal25]

You can have a trust in 1 day so there isnt really a wait there. And the clock is ticking on the 180 days. Its been filed
The only steps added to a trust, are the steps that have already been in place for individuals. Basically.
You have to look at your situation to really answer your question on individual vs getting a trust.
A trust just gives direction to where the NFA item goes after your passing. Even with the added steps, I would always advocate a trust. And a seperate trust for the people named in your trust.
I am not a lawyer. But I have a *few NFA items. And Ive helped a few others setup trusts or explained the process.

*Im obviously not going to say an exact number on a public forum.