Originally Posted by CampingJosh
But you don't really have to do anything to keep a trust in effect perpetually
A NFA trust does not go on in perpetuity. ONLY the co OWNERS IE trustees at the time the trust is FORMED are owners you can NOT ADD TRUSTEES you can add beneficiaries though. When the ORIGINAL trustees die the trust is done. You can not pass the trust on to your kids or anyone else the trust is only in effect as long as there is one ORIGINAL trustee left.
Also when the NFA items are left to a beneficiary they are transferred on a form 4 no new stamp required ( IE no charge ) however if they make a trust then they have to pay the tax for a new stamp on each item that was in the trust.