Trust additions
- Thread starter rico903
- Start date
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I could be wrong but if your trust bought them and you were able to pick them up (stamp received) then your trust owns them. Could you mean that you received them personally (your name) and want to transfer them to your trust? Some one with more knowledge will answer I am sure.
You have to Add them to your schedule A. I just sent my approved form 1 to the attorney who drafted my trust and he added it. You can also do it yourself I just haven't done it since he offered to do it. Once you add it, sign and date it, then make copies to go along with copies of your trust.
The trust owns them. You are a trustee, and authorized to do such business on behalf of the trust. There is no need to "transfer them to the trust".
anderson76
Active Member
- Feb 16, 2013
- 209
OP,
Assuming your trust is fairly typical, you should list the can on your Schedule A when it comes in. Typical, Schedule A just contains a description of trust property.
It’s a bit more nuanced than this. The ATF basically treats the trust as the owner of the trust property. That’s their prerogative as they are the ones that get to promulgate the regs that define the term “person” to include trust.
Under MD law, a trust is not like an LLC, Copr., or other form of business organization. It is not a distinct legal entity, as some around here like to say. A trust does not own anything. A trust arises when an interest in property is divided into legal title and a beneficial interest. The trustee owns legal title to the trust property, (assuming the property has been properly “placed in trust”) while the beneficiary is said to acquire a beneficial interest.
While the foregoing may be of no consequence when it comes to suppressors (as MD imposes no special transfer restrictions), things get more interesting when dealing with regulated firearms or assault weapons.
Assuming your trust is fairly typical, you should list the can on your Schedule A when it comes in. Typical, Schedule A just contains a description of trust property.
It’s a bit more nuanced than this. The ATF basically treats the trust as the owner of the trust property. That’s their prerogative as they are the ones that get to promulgate the regs that define the term “person” to include trust.
Under MD law, a trust is not like an LLC, Copr., or other form of business organization. It is not a distinct legal entity, as some around here like to say. A trust does not own anything. A trust arises when an interest in property is divided into legal title and a beneficial interest. The trustee owns legal title to the trust property, (assuming the property has been properly “placed in trust”) while the beneficiary is said to acquire a beneficial interest.
While the foregoing may be of no consequence when it comes to suppressors (as MD imposes no special transfer restrictions), things get more interesting when dealing with regulated firearms or assault weapons.
Right, I was wondering why the question was asked ... and thought that there was a chance OP meant they were form one'd under his name. Sounds like he is good to go.
You still have to add them to the schedule A.
Ok, I'm not getting the answer I was looking for so let me rephrase the question.
I have a trust, I purchased 2 cans via it in July 2013. I received them last month. Do I have to mail in the assignment page with them on it to ATF? Do I have to send the whole trust? Do I have to have it notarized like I did originally. I don't know what a schedule A is as my trust does not have one, just an assignment page with lines on it for items, manufacturers and see #s. It had to be notarized original when filing. They are on my Form 4s under the name of The ------Trust. I'm trying to find out if I have to send anything to ATF or not.
I guess while I'm at it if I decide to transfer my Class III fire arms in my name to my trust do I have to send in a copy of the assignment page also? Do I have to send the whole trust each time and have things notarized?
I have a trust, I purchased 2 cans via it in July 2013. I received them last month. Do I have to mail in the assignment page with them on it to ATF? Do I have to send the whole trust? Do I have to have it notarized like I did originally. I don't know what a schedule A is as my trust does not have one, just an assignment page with lines on it for items, manufacturers and see #s. It had to be notarized original when filing. They are on my Form 4s under the name of The ------Trust. I'm trying to find out if I have to send anything to ATF or not.
I guess while I'm at it if I decide to transfer my Class III fire arms in my name to my trust do I have to send in a copy of the assignment page also? Do I have to send the whole trust each time and have things notarized?
I believe everything said so far is correct and you have a good question. As for the schedule A for your trust being sent to the ATF some do and some do not. The schedule will list everything in your trust ie properties, stocks, bonds, personal collections, offshore accounts, etc. So if you would like to tell ATF all of this you may. I don't think the schedule comes up until the trust is dissolved for some reason. Someone will say otherwise soon. Did they ask you to send a schedule A before approving your forms or did you get stamps? Again I might be wrong. Maybe ask Nate. Congratulations on your purchase, go enjoy them. IANAL.
- Feb 4, 2013
- 28,175
Why would you have to send the new Schedule A to the BATFE? They already KNOW you have the cans, they approved the tax stamp.
As for the entire trust, they already got that when the Form 4 was sent in.
As for the entire trust, they already got that when the Form 4 was sent in.
SneakySh0rty
Active Member
You should have a Schedule A. I would attach blacked out copies of mine, but I signed an agreement with my lawyer so can't share the physical docs. But pretty much you should break your trust documents into different pdfs. One for the actual Trust, that's notarized. Another pdf for your Assignment of Property, and another for your Schedule A.
All you do is write what is in the trust on the assignment of property page as well as on the Schedule A. Then when you apply for any other NFA item, send the updated documents along with your Trust. So, no need to send anything back to the ATF until you apply for another NFA item.
Attached: See how I have my Trust Package divided into 3 pdfs? (I have blanks just in case I mess up on a sheet i can rewrite everything). But once you get the stamps back add them to the two sheets, and re scan the docs. Then next time you apply for NFA item, attach.
Attachments
You're making a lot of assumptions here. Like I have any idea how to create a pdf or scan a doc
- Feb 4, 2013
- 28,175
Buy a scanner, hook it up, and pick Scan to PDF.
It will scan and create PDF files. Name them appropriately.
It will scan and create PDF files. Name them appropriately.
87Theworld
Active Member
They have pdf apps for smart phones so you can just get a trial one for free. Take a pic of the pages and email them to yourself. You can save them to your computer, USB drive, or whatever else you want.
fabsroman
Ultimate Member
I can just imagine me saying that to my dad and him saying back to me, "You know I don't understand that legal mumbo jumbo."
However, he can surf the net just fine and print out what he is looking at on the net to bring it over for me to look at. Oh yeah, and he can play cards on the computer.
- Feb 4, 2013
- 28,175
Let's see, better instructions.
Go to computer store. Buy a scanner. FOLLOW THE DIRECTIONS IN THE BOX.
Go to computer store. Buy a scanner. FOLLOW THE DIRECTIONS IN THE BOX.
Let's see, better instructions.
Go to computer store. Buy a scanner. FOLLOW THE DIRECTIONS IN THE BOX.
Bought an all in one. Can't get it set up. I suck at this tech BS. Hell, I can't even set up a photo bucket account, can't get past the captcha. Shuts me out after 10 tries. Bought a digital voice recorder, can't figure that out either. Directions for this these things suck.
Hell, even I can do that. But that's about the end of it.
- Feb 4, 2013
- 28,175
You guys are funny.
Worst case, take the documents and a thumb drive to Kinkos and have them scan it to a PDF.
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