Newbie question - not understanding reasons for using trust
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Newbie question - not understanding reasons for using trust
I have been doing searches on this subject & please don't flame me for asking this. I am looking into getting a supressor & I see everyone talking about buying them thru a trust. Why? what are the benefits of it?
Re: Newbie question - not understanding reasons for using tr
There's a few good reasons. When you use a trust, you don't need to have your cleo sign off on your form, and you can skip the fingerprinting and mug shot. Another good reason is that it makes it easier to share your NFA items with the people named on your trust, but I personally wouldn't use that because that isn't the purpose of a trust and a determined DA might be able to push through that and say that just because you're named on a trust doesn't mean you are allowed to be in possession of the NFA items owned by that trust. Other people say that's why you should hire a lawyer that specializes in NFA trusts.
"And by the way, if you're gonna take up a hobby of letter writing, you might want to learn how to spell "writing" you stupid F--k." - Nighthawk re kwikrnu
Re: Newbie question - not understanding reasons for using tr
1) No finger print card and LEO sign off
Do you really want you CLEO knowing what you own?
2) Property avoids probate no doubt as to where it is supposed to go. Not everyone has a will.
Do you really want you CLEO knowing what you own?
2) Property avoids probate no doubt as to where it is supposed to go. Not everyone has a will.
Long distance, the next best thing to being there!
Re: Newbie question - not understanding reasons for using tr
so if you put your items in a trust and you pass away, can somebody else on the trust take possession without any paperwork?
"If you are mad as hell and aren't going to take it anymore, grab your rifle and head outside.
If you're the only dumbass with a rifle screaming like a maniac, go back inside. It isn't time yet."
If you're the only dumbass with a rifle screaming like a maniac, go back inside. It isn't time yet."
Re: Newbie question - not understanding reasons for using tr
Upon death NFA ownership can be transferred without the $200 tax but not without paperwork AFAIK.
Trusts and corporations can allow unescorted possession by trustees or employees under the right circumstances ... as interpreted by the ATF.
I don't have any information about the specific legal nature of your question about transference between trustees or officers in the event of the death of a trustee or officer.
Trusts and corporations can allow unescorted possession by trustees or employees under the right circumstances ... as interpreted by the ATF.
I don't have any information about the specific legal nature of your question about transference between trustees or officers in the event of the death of a trustee or officer.
http://www.youtube.com/watch?v=BDtd2jNIwAU MUSAFAR!
http://www.youtube.com/watch?v=8CrOL-ydFMI This is Water DavidW
Complete Form 1s http://www.silencertalk.com/forum/viewtopic.php?f=10&t=79895
http://www.youtube.com/watch?v=8CrOL-ydFMI This is Water DavidW
Complete Form 1s http://www.silencertalk.com/forum/viewtopic.php?f=10&t=79895
Re: Newbie question - not understanding reasons for using tr
My wife and I are grantors and trustees on my trust. Items held in trust are listed on three different lists called "schedules". Schedule A lists the items that were co-owned by us and are now held by the trust. Schedule B lists items that were mine and are now held by the trust. Schedule C lists items that belonged to my wife and are held by the trust.mx201er wrote:so if you put your items in a trust and you pass away, can somebody else on the trust take possession without any paperwork?
When the first one of us dies the survivor trustee continues to maintain possession of the items in Schedule A and no NFA paperwork needs to be done because the trust still exists. When the survivor trustee dies then the NFA items will be transfered out of the trust according to the instructions of the trust and paperwork will have to be filed with the ATF but no transfer tax paid because it's being transfered to an heir.
Re: Newbie question - not understanding reasons for using tr
thanks for the answers.
but you are saying that if my dad were to pass away, there would be a way to transfer any of his NFA items to me? I was under the impression that if they couldn't sign a form 4 there was no way to transfer it, and it would have to be destroyed
but you are saying that if my dad were to pass away, there would be a way to transfer any of his NFA items to me? I was under the impression that if they couldn't sign a form 4 there was no way to transfer it, and it would have to be destroyed
"If you are mad as hell and aren't going to take it anymore, grab your rifle and head outside.
If you're the only dumbass with a rifle screaming like a maniac, go back inside. It isn't time yet."
If you're the only dumbass with a rifle screaming like a maniac, go back inside. It isn't time yet."
Re: Newbie question - not understanding reasons for using tr
NFA items can be inherited with no tax paid. Transfer is done on a Form 5.mx201er wrote:thanks for the answers.
but you are saying that if my dad were to pass away, there would be a way to transfer any of his NFA items to me? I was under the impression that if they couldn't sign a form 4 there was no way to transfer it, and it would have to be destroyed
Re: Newbie question - not understanding reasons for using tr
thanks for the clarification
"If you are mad as hell and aren't going to take it anymore, grab your rifle and head outside.
If you're the only dumbass with a rifle screaming like a maniac, go back inside. It isn't time yet."
If you're the only dumbass with a rifle screaming like a maniac, go back inside. It isn't time yet."