Quote Originally Posted by bogey1 View Post
My business is a S corp, and am going to will my nfa to my son.
Not enough info to discern the question or the facts, but whatever percentage of the S corp that you own, will become property of your estate, and whatever that S corp owns goes along with it (sort of). If you own 100%, then your estate owns the entity, and your executor has to deal with the S corp as an entity/asset owned by the estate; it's subject to the claims of creditors first.

If you registered your NFA in the S corp, then you can't bequeath the NFA stuff to your son, because the S corp didn't die, the owner of the S corp did. You could leave him the S corp and the right to possess the toys, but that's mostly invisible to ATF until he tries to buy more toys or transfer out the existing ones. And the majority of heirs (yours may be different) would need to hire a lawyer to figure out the rules.

If anyone else owns a piece of the S corp, then it's different.

It's not obvious, how NFA rules work, and most heirs (and most non-gun lawyers) haven't a clue. Plenty of MG's and silencers are found in estates and the horrified next of kin, administrators, or estate lawyers quietly dumpster them or drop them off a bridge, because they have no clue what a stamped Form 4 is. Even lawyers just assume that it's all contraband.

I read once that something like 90% of the guns originally registered after the 1934 act are still registered with the original registrants. Do the math; if you were 21 in 1934, you're 106 now, and probably not getting out to the range that often. The truth is that most of those are either destroyed, deep-sixed, or possessed by family members who think vaguely that "It's OK, great-grandpa paid a tax for these, so I can keep them."