I wanted to know about possibly moving to other states with your Colorado NFA trust / title II equipment. I understand that the Colorado NFA trust will not provide any legality in in terms of owning title II items if a state prohibits them, but say I move to a state that does allow title II. How difficult would it be to amend or file?
Many Coloradoans are transplants from the East and West Coast. While Colorado does not have an estate tax or inheritance tax, other states do. You do not have to be a resident of these states to get clipped by the tax. All you need is real estate.
I have been drafting estate plans for about twenty years. For about twenty years, I have successfully avoided making trusts the beneficiary of retirement accounts, save for a few occasions. However, recent federal court cases stripping the asset protection benefits of inherited Individual Retirement Accounts (IRAs) have put an end to that streak. Protecting retirement accounts from a beneficiary’s creditors requires a stand-alone retirement account trust.