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    outrider58

    outrider58

    Eats Bacon Raw
    MDS Supporter
    Jul 29, 2014
    50,179
    rob-cubed said:
    The argument against adding non-NFA items to a trust is that you are putting all your eggs in one basket... if anything on the trust got challenged, the trust's entire property is at stake.

    Right now inheritence laws, even in this crappy state, still allow for fairly easy transfer of ownership of non-NFA firearms. If MD passes new laws and you don't plan to move, then it might be time to put banned but otherwise non-NFA items into the trust.
    Click to expand...

    :thumbsup:This:thumbsup:
     
    L

    Los

    Member
    Jan 13, 2013
    63
    Eastern Shore of Maryland
    To clarify (or maybe confuse) one thing: according to Maryland's goofy way of doing things, the trust cannot be the registered owner (from Maryland's perspective) of any firearm. What you ask? Yeah, exactly. So, I own an M-16 that according to the Feds is owned by my Trust, but according to Maryland, is owned by me. So who actually owns it? I genuinely Do Not Know. Maryland's position is that only a person can own a firearm, while the Feds allow a trust to be the owner. So, my NFA items could be put in the trust (but are registered to me, as far as MD is concerned) but my AR-15s, for example, cannot go into the trust, because MD wont allow it and the Fed's aren't concerned with such things. Confused? Me too.

    I am not a lawyer and I'd love to hear the insight of someone who actually studied law on this issue...
     
    BigDaddy

    BigDaddy

    Ultimate Member
    Feb 7, 2014
    2,235
    Los said:
    To clarify (or maybe confuse) one thing: according to Maryland's goofy way of doing things, the trust cannot be the registered owner (from Maryland's perspective) of any firearm. What you ask? Yeah, exactly. So, I own an M-16 that according to the Feds is owned by my Trust, but according to Maryland, is owned by me. So who actually owns it? I genuinely Do Not Know. Maryland's position is that only a person can own a firearm, while the Feds allow a trust to be the owner. So, my NFA items could be put in the trust (but are registered to me, as far as MD is concerned) but my AR-15s, for example, cannot go into the trust, because MD wont allow it and the Fed's aren't concerned with such things. Confused? Me too.

    I am not a lawyer and I'd love to hear the insight of someone who actually studied law on this issue...
    Click to expand...

    http://www.mdshooters.com/showthread.php?t=134094

    Post 3 might be of interest.
    I can see why the lawyers who practice gun trust law don't feel compelled to dive in on each weekly rehash of the issue. I am not a lawyer and have no NFA items.

    The real question in my mind, is not who owns you M-16 now, but what hoops you heirs have to jump through when you pass on to the other side. From the Fed stand point, I think the trust still owns it so no tax stamps need to be bought. No idea what happens with regards to Maryland.
     
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