Question about deploying and nfa item pending...!

[Wyatt9k]

Hi I am asking this for a friend of whom I did a trust for using quicken willmaker..He has a suppressor pending and is about to be deployed this sunday so he wont be here when it comes back approved, what are his options?

Thanks!

[GTFord1]

I would assume someone on his trust could take it, if he added anyone else?

[Wyatt9k]

Yea I mean he has the successor trustee next in line but that person takes over the trust if something happens to him (ex. he dies or becomes incapacitated). Im pretty sure that person cant go take posession of the nfa item at dealer when it comes in, but I could be wrong.

[Jeff in OH]

You are correct, only the Trust Executor can hold or receive the item. All the same rules apply like individual ownership to the Trust Executor. I'd assume it has to stay at the SOT until he gets back and can finish the transaction.

[Wyatt9k]

He told me he called the ATF and spoke with someone that told him all he had to do was amend the trust and put his dads name on it. And I guess send the new amended trust to ATF, since now it would have his dads name to pick up the item while he was away? Is there any truthfullness to what the ATF person said?

One more thing I found while searching.. on ar15.com..http://www.ar15.com/forums/t_6_50/35914 ... itary.html

Bob: I think I am good to go on this but before I set the ball rolling I thought I would ask here just to double check. I’m in the Army and would like to pick up a few suppressors. I was thinking I would have a trust set up to include myself and my parents, and have the trust’s address be my parents’ home which is also my permanent home address. I plan on also storing them there while I’m in the Army. Is there anything wrong with this plan or am I all good to go.
Thanks


Larry: You are GTG. Just list you and your parents as trustees of the trust. The trustees are the ones who can be in possession of the items. The address thing is fine.


John: Couldn't he also store at parents house even if they aren't listed on the trust? Assuming he is the only one who knows the combination to the safe and they are in a secure location that no one else had access to.


Larry: Perhaps...but wouldn't it be easier just to add them as trustees? Also his parents could then go pick the items up at the dealer if the stamps came in while he was deployed.


Bob: Thanks guys. One more question, can they as trustees fill out and sign the form 4's or would I alone have to do that?
Thanks again

Larry: Yes, any trustee can sign a Form 4. But keep in mind that the buyer doesn't even have to sign the Form 4 for suppressors.

[jta]

I would just add somebody to the trust or leave it at the dealer until he gets back. If he is going to just let it sit until he gets back I would make sure it's okay with the dealer before hand.

[Wyatt9k]

I think hes gonna try and leave it at the dealer, because he has already submitted his individual trust..you could have a shared living trust to name 2 trustees but not on an individual..

[Bendersquint]

I think hes gonna try and leave it at the dealer, because he has already submitted his individual trust..you could have a shared living trust to name 2 trustees but not on an individual..

The SOT can hold onto it, if the ATF questions itthe SOT just needs to say he is deployed and all will be fine.

[Wyatt9k]

Thanks for the replies, I appreciate it.

[504ranger]

Check your PM.