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Offline Bigdave_185

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NFA trust
« on: November 11, 2020, 11:09:27 PM »
What are your thoughts

Wife has an appointment with the lawyer to write our official will/trust or what ever she has planned.  What do you all have planned for guns when you all kick the bucket ?

Thoughts?

Process?

Objections?

Reasons for or against ?


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Offline Flyin6

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Re: NFA trust
« Reply #1 on: November 12, 2020, 08:03:30 AM »
I'll get back with ya. Right now my thoughts are on gettin' some quoffee...
But thought I'd interrupt my quest to PAD (Pester a Dave) :wink: :evil:
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Offline longball

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Re: NFA trust
« Reply #2 on: November 12, 2020, 02:13:29 PM »
That’s the way I went. From what I can tell transfer of ownership is easier if I get hit by lightening tomorrow. I shopped around with some local attorneys and got quotes of $600-800 which seems high to me. Ended up getting one from silencer shop with purchase for around $130.


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Offline TexasRedNeck

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Re: NFA trust
« Reply #3 on: November 12, 2020, 06:12:03 PM »
The trusts used to be a way around local Leo refusing to sign atf forms. I believe the changes in the last several years rendered that moot.  Even with a trust you have to get printed and photos so the trusts are really more about liability


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Offline longball

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NFA trust
« Reply #4 on: November 12, 2020, 06:15:52 PM »
As of fall 2017 signature from sheriff was not required for trusts. No idea what has changed between then and now. I believe the listing of trustees was the biggest change made in 2015. Now every trustee has to submit photo and fingerprint cards. The ability to list a trustee as beneficiary in the event of death also allows the trustee to retain the item in their possession while they go through the necessary paperwork and review period instead of turning over listed items to the atf during the wait.

*disclaimer* all of this info is based on memory from three years ago so read with appropriate amount of salt.
« Last Edit: November 12, 2020, 06:22:10 PM by longball »

Offline TexasRedNeck

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Re: NFA trust
« Reply #5 on: November 12, 2020, 06:32:26 PM »
I didn’t think about ownership transfer but I have an LLC for mine anyway.


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Offline Bigdave_185

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Re: NFA trust
« Reply #6 on: November 12, 2020, 07:25:11 PM »
I’m still baffled with the whole stamp thing.  The stamp allows me or the trust to have things correct?

Do I need to set the trust up first then fill out the stamp.


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Offline TexasRedNeck

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Re: NFA trust
« Reply #7 on: November 12, 2020, 07:39:29 PM »
The stamp is a tax that allows you to possess items regulated by the National Fireams act. Full auto pre 86, short barreled rifles, any other weapons. Etc


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Offline Bear9350

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Re: NFA trust
« Reply #8 on: November 13, 2020, 09:52:32 AM »
More or less, yes.  The stamp is Serial number specific.

You either set the trust up, or decide to buy as an individual.  If you are buying something like a suppressor, you would need to purchase the item.  The stamp/ background check is attached to the serial number of that specific item.  Once the FFL you would be working with has the item you can start the  Form 4 paperwork.  Start the background check and pay for the tax stamp.  Then wait 6-12 months for approval.  After approval the FFL can transfer the item to you.  If you are planning on building something, you need to have the tax stamp prior to starting to build/ modify anything. The Form  1 paperwork for building your own takes about a month.

There are 2 types of trusts.  The first type allows you to have multiple people use the item.  Every person on the trust would need to be fingerprinted/ complete a background check for every item.  If my brother and I are on this type of trust together we would both need to get fingerprinted and have a background check completed.  Then either one of us could have the item at anytime.  He could take it hunting without me present.

The second type makes it easier to transfer the item to somebody should you pass.  It does not allow them to have the item without you present though.