To Trust or not?


PDA






HKGuns
March 16, 2013, 01:22 AM
Pretty certain I can get CLEO signoff on my Form 4 without a trust. However, I am still considering a trust.

What do you folks recommend? Trust or not?

If you enjoyed reading about "To Trust or not?" here in TheHighRoad.org archive, you'll LOVE our community. Come join TheHighRoad.org today for the full version!
Blackhawk30
March 16, 2013, 07:56 AM
I looked into a trust because I can't get a signoff.A trust would have added $500 to the whole process.I decided not to do it.If you have no trouble getting a signoff than go for it.

thump_rrr
March 16, 2013, 08:26 AM
Read THIS (http://www.slgunshop.com/nfa-class-iii-weapons/nfa-trust) then you can figure out for yourself if it is worth it.

Jeff Cook
March 16, 2013, 12:04 PM
IMHO I think a trust is the way to go. In my neck of the woods no CLEO would sign the docs for me so I had t go the trust route. Becuase of my marital situation we set up a trust years ago to protect our assets from a greedy government. It may cost a bit but in the end it is worth it.

GuitarSlinger66
March 16, 2013, 07:56 PM
The more legal roadblocks you have working in YOUR favor the better.

Elkins45
March 16, 2013, 09:43 PM
I went the trust route because I don't want my wife to commit a felony if she touches my silencer when I'm not home.

hentown
March 16, 2013, 10:37 PM
I have a Form 4 pending for a suppressor. Will probably do a trust for the next NFA item(s) that I acquire. An NFA item can be left directly to an heir, tax-free, via Form 5. However, the points made about the advantages of the trust are valid.

I have no problem getting CLEO sigs.

HKGuns
March 16, 2013, 10:37 PM
I was leaning toward a trust now your input has sealed it. Thanks for the input, one of the most lopsided polls I've seen on this site.

wally
March 17, 2013, 11:00 PM
IMHO using a trust is worth it if only to avoid the expense and hassle of fingerprints and photos.

OTOH if the LEO signoff goes away and they add fingerprint and photos for everyone on the Trust,as is supposed to be in the works, I'll go back to doing individual transfers.

hentown
March 29, 2013, 06:37 PM
Any legal work that I have done is done gratis, so paying for a trust isn't a consideration for me. Since my last post, however, I've established an LLC for the operation of my class 6 business. Might have the LLC buy the next suppressor, rather than forming a trust. You can add members to an LLC, just like you can add trustees and beneficiaries to a trust.

IF you happen to be in Texas and go the trust route, just be sure and find a lawyer who staples a dollar bill to the trust document! :evil:

MasterSergeantA
March 31, 2013, 05:01 PM
IMHO using a trust is worth it if only to avoid the expense and hassle of fingerprints and photos.

OTOH if the LEO signoff goes away and they add fingerprint and photos for everyone on the Trust,as is supposed to be in the works, I'll go back to doing individual transfers.
I would agree with you except that having a trust allows others, identified as 'trustees' in the document, to take possession of your NFA items without you being present. Not a consideration if you don't ever intend to have anyone do that. Technically, if you are not around, your SO cannot even have the combination to your safe.

JustinJ
April 1, 2013, 01:27 PM
Definitely Trust. It allows others to take possesion of your items if you wish. For example, i have to keep my first can locked away from my fiance when i'm not around. Also, it will make transfer to your offsrping, if you have or intend to have, much easier.

I did mine through TX Law Shield and they even provided me with a nifty card stating that i am the legal owner of NFA item(s). It has their phone number so that if i'm ever hassled by LE i will have legal assistance at the ready. Yes, it was more expenisve than other routes but i already use their other services and the associated legal protection was a huge bonus.

daveit
April 6, 2013, 05:45 PM
Question...does establishing one of these make it valid in all states? (Where the weapons are allowed, of course.) I'm military & should be in Colorado a few years, but I plan to retire in Pennsylvania in about 4 years. I'd like to pick up a couple cans...

medalguy
April 8, 2013, 01:00 AM
No it does not. Each state may have different language required, so you should check with an NFA attorney in any state you want to move to. The trust needs to be written so it can be simnply modified to meet each state's requirements. If it becomes necessary to completely rewrite the trust, then the original trust becomes invalid and the items must be transferred to the new trust. This can get expensive.

Enco
April 19, 2013, 03:20 PM
Unless you have a NFA Trust, upon your death all your class 3 items become
unregistered. Leaving you family in the lurch.
Spend the extra few bucks up front and relieve your family of the burden .

Charger442
April 19, 2013, 04:39 PM
Unless you have a NFA Trust, upon your death all your class 3 items become
unregistered. Leaving you family in the lurch.
Spend the extra few bucks up front and relieve your family of the burden .

There is not anymore burden on the family than there would be with a death of a family member and your Class 3 items don't become "unregistered" upon your death. If there is no trust, the items will still belong to the deceased's estate and the executor of the estate can file a Form 5 for each weapon to have them transferred tax free to legal heirs.


An NFA trust will often have specific instruction about the NFA items themselves and their disposal, but thinking that if you don't have a trust that once you die your guns are unregistered, is laughable.

pjlaw1
April 20, 2013, 08:37 PM
I used a trust so my wife and children can use also.

If you enjoyed reading about "To Trust or not?" here in TheHighRoad.org archive, you'll LOVE our community. Come join TheHighRoad.org today for the full version!