Speedgelb986S
Plinker
Just curious to know how many of you who have set up an NFA trust have purchased a separate insurance policy in the trust's name for fire, theft, or other loss? I would be more than hesitant to submit an insurance claim for firearms owned by the trust on an insurance policy that I personally own... That could be construed as either (1) an admission that I considered those firearms to belong to me, personally, and not the trust, or (2) attempted insurance fraud, if I am submitting a claim for losses to me, personally, that I, personally, did not sustain.
A separate insurance policy owned by the trust, with the trust itself as the named beneficiary, would obviously solve the problem, assuming that you can get your insurance provider to sell the trust such a policy. I was just wondering whether those of you who have set up trusts to hold your NFA items have considered the question, and if so, how you have chosen to address it?
A separate insurance policy owned by the trust, with the trust itself as the named beneficiary, would obviously solve the problem, assuming that you can get your insurance provider to sell the trust such a policy. I was just wondering whether those of you who have set up trusts to hold your NFA items have considered the question, and if so, how you have chosen to address it?