How To Set Up A Trust For NFA

[wired]

So it's in limbo for now is what you are saying..

Call it a rumor of wht they might do or someones suggestion but no, the LEO signoff requirement has NOT been suspended and probably won't be until the ATF gets a director . Given the current gun control climate I seriously doubt they will suspend the LEO signoff requirement for NFA transfers. The trust route is the result of an unintended loophole that wasnt even recognized until 15 years ago or so. The NFA would have to get overhauled with a law to change that and as much as it sounds like gun control legislation is right around the corner I don't believe it is. The current House will stop ANY gun control measure dead in its tracks and support in the Senate is lukewarm at best. They all just want the debate to die. 1994 was a lesson in what happens to legislators who vote for hard gun control measures. They dont want to repeat that. Did you hear in the state of the Union speech where the President was practically begging for a vote on the floor for Gun Control measures. That was because even he knew it was a doomed set of bills.

 

[bigtex]

does this work for people who are under the age of 21? i know that if you are under 21, you cant purchase a suppressor from a class 3 dealer, but you can from a private party, if you have a trust. and if i got one from a private party, using a trust, would i fill out the trust with the serial number from the suppressor that i am going to get from the private party owner? and would i have to do anything to my rifle after i get all of this done--as in engraving anything into it?

 

[Member 5605]

ok, so here is a question.

I've setup all the information regarding the trust.

I am reviewing the documents.

Though the name of my trust is: "Dyjital" Revocable Living Trust"

I realize that since I had my name in there earlier upon creation it listed me in the name. I couldn't edit the specific name.

Export to MS Word and edit all references of the "Dyjital" RLT to "MyName Trust" ?




\\\\\\Edit:
Appears that an export to a Word Document and changing the name on every page is sufficient.

 

[miloy001]

I am expecting to receive my first suppressor very soon and I think I should modify Schedule A after I got it but not sure if the following is correct?

NFA Items: Firearms & Devices Registered with the BATFE
1. The GEMTECH OUTBACK - IID .22 LR suppressor, serial number S11-?????.

 

[rayd8]

I am expecting to receive my first suppressor very soon and I think I should modify Schedule A after I got it but not sure if the following is correct?

NFA Items: Firearms & Devices Registered with the BATFE
1. The GEMTECH OUTBACK - IID .22 LR suppressor, serial number S11-?????.

That looks consistent with what I've done successfully. The past couple of years, thy have wanted the schedule A updated with the paperwork that was submitted YMMV.

 

[PDXSparky]

I'm only going to put the items that I have received the stamp for and not anything that is still pending.

 

[locobob]

I'm getting a trust ready to buy some toys and this old thread has been pretty informative but I have a few questions regarding details. I'll be using an "assignment page" rather than a "schedule A", does it need to be signed by a witness or notarized when it is updated to add additional items to the trusts property? Do I need to send any and all trust amendments to the ATF along with the trust? What about notary pages for Co-trustee's? Do they need to be sent in?

 

[wired]

Some people will tell you that you dont have to send everything in. The ATF will tell you that you do. Just do it.

You do not have to get the assignment notarized with every item. As trustee you can add and remove items at will once the complete trust is notarized. The assignment is usually just the initial document you fill out when you start the trust. Everything gets added to a schedule A afterwards. Thats the way Ive always done it and its always worked as far as the ATF cares. That works for me and to be honest I don't care what happens to this stuff after I die because no matter what I tell my wife to do or not do she'll still sell it all off at a garage sale. Its good enough for the ATF though.

 

[locobob]

The trust I am working with has no "schedule A" provision, it uses a "assignment page" instead as an updateable document - but that form does have spots for witness signatures, not sure if required by law or if its just for extra assurance that someone doesn't doctor the assignment page after I'm gone?...

 

[Member 5605]

My trust for "general stuff" had a dual witness and notary spot.... I deleted from the page that as it wasn't necessary.

 

[xtratoy]

I am wanting to get a suppressor and have it in a trust. I want my wife, son and daughter to have access to suppressor. From what i am reading none could be the benificiary as long as they are co-trustees if the trust. Is this correct? Can Quicken Willmaker 2015 still be used in 2016?

 

[JedB]

No, that is not accurate.
You are the only one that can not be a beneficiary.
They can be both.

 

[wired]

Yep. They can both be trustees and beneficiaries. You can only be the trustee. I use 2007 willmaker so I'm assuming ( bubblegum-u-me ) that 2015 will still be OK. Hurry it up though as the rules they are a changing.

 

[xtratoy]

If I were to set up the trust but the suppressor I want is not currently available is there any point to it? Or do the new laws affect the setting up of the trust? Can I just set it up with nothing in it?

 

[JedB]

If I were to set up the trust but the suppressor I want is not currently available is there any point to it? Or do the new laws affect the setting up of the trust? Can I just set it up with nothing in it?

The new law does not affect the setting up of the trust. You can still use the trust for it's purpose (to safeguard assets), and have others legally able to use the items, but the requirement for trustees has changed. You can set the trust up with nothing in it until the first purchase is made.

Based on my questions in this thread (2/3 of the way down)
https://www.northwestfirearms.com/threads/41p-ruling-1-4-16.211886/

It went from just the primary trustee needing to provide information (form 4 and form 1) and pass the background on pickup of the item to ===> the primary trustee *and* additional trustees needing to provide the full packet for the background check (photos & fingerprints) for each additional item added to the trust after the law's enactment date. My current understanding is that Beneficiaries do not need to submit the packet.

So, the trust would still protect your asset(s) and your beneficiaries. It's just some added paperwork to submit when adding to the collection.

 

[SCARed]

People are starting to freak about 41p/41f, but none of that applies if you just submit it before the start date sometime in July. There is NO retroactive provisions in the new rules.
Trustees/co-trustees are the only ones that will have to get printed/pics as they are the only ones who can posses items in a trust.

 

[xtratoy]

Are the pics and fingerprinting required every two years?

 

[SCARed]

Yes and no. They are only required if you are making a new submission more than 2 years after your last approval.
What remains to be seen is if that is a fixed, or rolling 24 mos. If it's rolling, then theoretically you would submit the packet once then as long as you had a submission every 18mos, you'd never have to submit another packet with a new submission.

 

[PDXSparky]

If I were to set up the trust but the suppressor I want is not currently available is there any point to it? Or do the new laws affect the setting up of the trust? Can I just set it up with nothing in it?

The trust needs to have something in it at creation. Most people just assign a $1 bill to the trust as a start.

The rule won't take effect for 180 days from Jan. 4th of this year, so there is still time. Even is you don't make it in time, it really isn't a huge deal. The only difference will be that you will need to submit passport photos and fingerprints for each person listed in the trust as a trustee. That will be the only way that they can use what is in the trust without you being present. If you go the individual route, the only thing that has changed there is that you no longer need to have the CLEO sign off on your form before submitting it.