Monthly Archives: April 2022

Trust Versus Individual

Let's address the common question, "Why should I file with a trust?" We will compare filing with a trust to filing as an individual and why we feel a trust is a far superior route.

• Legal entity owns the items instead of one physical person
• Flexibility on who can possess, transport, and use the items
• Inheritance is seamless and doesn't require any additional ATF applications, paperwork, and expenses
• Asset protection
• Avoids confiscation should a trustee become unable to possess items
• Lives "perpetually" in a transfer-ban scenario

Individual Benefits

• No initial, one-time extra expense (generally about $80 to purchase a trust)
• No need to print, sign, and scan a trust

At glance, the scales appear heavily weighted in favor of filing with a trust. Simply put, this is true. Trusts are superior for flexibility, asset protection, and inheritance. The only two downsides to a trust are the initial, one-time setup cost (varies from free with an online template