Newbie question - not understanding reasons for using trust

2nd Amendment and Freedom

Moderators: mpallett, bakerjw

Post Reply
swing2hard
New Member
Posts: 1
Joined: Tue Oct 12, 2010 12:13 pm

Newbie question - not understanding reasons for using trust

Post by swing2hard »

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?
User avatar
Blaubart
Silent But Deadly
Posts: 4962
Joined: Tue Mar 18, 2008 1:22 pm
Location: Bozeman, MT

Re: Newbie question - not understanding reasons for using tr

Post by Blaubart »

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
User avatar
JohnInNH
Elite Member
Posts: 3313
Joined: Thu Jul 19, 2007 10:49 pm
Location: SW NH

Re: Newbie question - not understanding reasons for using tr

Post by JohnInNH »

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.
Long distance, the next best thing to being there!
User avatar
mx201er
Silent But Deadly
Posts: 382
Joined: Wed Jun 11, 2008 3:24 pm
Location: NM, MT

Re: Newbie question - not understanding reasons for using tr

Post by mx201er »

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."
User avatar
doubloon
Silent But Deadly
Posts: 11897
Joined: Wed Dec 31, 2008 11:02 pm
Location: Houston-ish

Re: Newbie question - not understanding reasons for using tr

Post by doubloon »

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.
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
User avatar
Abiqua
Silent But Deadly
Posts: 1430
Joined: Sun Jan 15, 2006 9:59 pm
Location: Oregon Territory

Re: Newbie question - not understanding reasons for using tr

Post by Abiqua »

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?
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.
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.
User avatar
mx201er
Silent But Deadly
Posts: 382
Joined: Wed Jun 11, 2008 3:24 pm
Location: NM, MT

Re: Newbie question - not understanding reasons for using tr

Post by mx201er »

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
"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."
User avatar
Abiqua
Silent But Deadly
Posts: 1430
Joined: Sun Jan 15, 2006 9:59 pm
Location: Oregon Territory

Re: Newbie question - not understanding reasons for using tr

Post by Abiqua »

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
NFA items can be inherited with no tax paid. Transfer is done on a Form 5.
User avatar
mx201er
Silent But Deadly
Posts: 382
Joined: Wed Jun 11, 2008 3:24 pm
Location: NM, MT

Re: Newbie question - not understanding reasons for using tr

Post by mx201er »

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."
Post Reply