If ATF's Ruling on Trusts Passes Tomorrow - What Do You Buy?

[CrazySanMan]

She should be able to go to her ID card section on whatever base she's on and get that done fairly easily. Have her inquire, it's worth a shot (as that's what I'm going to do if/when push comes to shove).

Good idea. I didn't think about her going to badging to get fingerprints.

No one knows what the actual rule will be. BATFE has been tasked by Congress to "do something."

They could just require one time finger print, records check, picture for trustees. Or they could require it every application.

But no one knows right now.

The INTENT is to prevent people who should not have firearms (felons, etc) from being a trustee. Not that I think it has been a huge deal.

And, AFAIK, Congress did not provide any additional funding for this. So it is likely BATFE will not want to make it too hard on themselves.

Fingers crossed

 

[radial]

So here's my situation. I just got an NFA trust and sent off the appropriate forms for a .22 suppressor. I'm pretty darned sure that the suppressor isn't going to be my only NFA acquisition. I need/want suppressors in other calibers, short barreled rifles, at least one short barreled shotgun, and maybe even a full auto firearm in the fullness of time.

So what's the best strategy? Should I rush around and buy / submit ATF paperwork on these things now just to get the paperwork in ahead of the potential rule changes? Or, am I safe to wait a bit? Downside of buying everything now would be a substantial dent in the home economy. But I would take that hit if the alternative was never being able to own additional NFA items.

 

[bobthefisher]

So what's the best strategy? Should I rush around and buy / submit ATF paperwork on these things now just to get the paperwork in ahead of the potential rule changes? Or, am I safe to wait a bit? Downside of buying everything now would be a substantial dent in the home economy. But I would take that hit if the alternative was never being able to own additional NFA items.

Get whatever you can afford... NOW! You'll still be able to transfer NFA items after the ruling with your trust, it'll just be much harder depending on the ruling details and how many people are on your trust.

What machinegun are you thinking about getting?

 

[Sundazes]

I have had MSP take a little as 7 days and as much as 4 months. Its a crap shoot that usually ends up in the 3 to 5 week range.

So when this goes into affect, am I going to have to submit prints to transfer a can from my self as an individual to my trust that I am named as a trustees?

 

[bobthefisher]

So when this goes into affect, am I going to have to submit prints to transfer a can from my self as an individual to my trust that I am named as a trustees?

Yes, more than likely for each item. However, you're also going to have to pay the $200 transfer tax for each item... are you sure you want to do that?

 

[Pinecone]

I have had MSP take a little as 7 days and as much as 4 months. Its a crap shoot that usually ends up in the 3 to 5 week range.

So when this goes into affect, am I going to have to submit prints to transfer a can from my self as an individual to my trust that I am named as a trustees?

You have to do that now. And yes,pay $200.

The ownership changes from YOU to YOUR TRUST. Even if you are the only trustee.

If this goes through, and is bad as people are expecting, then you will have to do fingerprints and photos and possibly CLEO sign off on every item also.

 

[Pinecone]

What is going to possibly change about trusts? Should I be rushing out to start one?

BATFE has been tasked to change the trust rules to ensure that no prohibited people are members of a trust.

Right now, you could start a trust, buy a number of firearms, and then add a felon as a trustee. Not that it has happened, but some are worried it COULD happen.

They could go minimal, every trustee needs to be fingerprinted/photo/background check, once to become a trustee. Or they could make it onerous and that each trustee would have to do through the mess for EVERY item added to the trust.

No one knows what they will propose.

 

[HauptsAriba]

Lot of hub hub for something that has never happened

 

[ericoak]

BATFE has been tasked to change the trust rules to ensure that no prohibited people are members of a trust.

Right now, you could start a trust, buy a number of firearms, and then add a felon as a trustee. Not that it has happened, but some are worried it COULD happen.

They could go minimal, every trustee needs to be fingerprinted/photo/background check, once to become a trustee. Or they could make it onerous and that each trustee would have to do through the mess for EVERY item added to the trust.

No one knows what they will propose.

This. A felon right now could start a trust themselves and do a transfer.

Dealers are being made by ATF to do NICS checks even though the Brady Bill doesn't cover NFA items, and suppressors aren't even weapons.

 

[Qbeam]

So have they made a decision?

Q

 

[ericoak]

No one knows anything till they announce it. Everything else is speculation.

 

[spatchcock]

If your job is to make rules, I guess you better keep making rules.

Thanks for the explanation.

 

[Pinecone]

This. A felon right now could start a trust themselves and do a transfer.

Dealers are being made by ATF to do NICS checks even though the Brady Bill doesn't cover NFA items, and suppressors aren't even weapons.

At least with a trust with a single trustee, who is a felon, the NICS should catch that.

But how about a trust with a husband and wife. Husband is a felon, wife does all the NICS? That is what they are worried about.

 

[ericoak]

At least with a trust with a single trustee, who is a felon, the NICS should catch that.

But how about a trust with a husband and wife. Husband is a felon, wife does all the NICS? That is what they are worried about.

There is no NICS for individual to individual transfers. I'm buying one right now with a trust from an individual in state. All I'm going to fill out is the Form 4. And I still don't believe the ATF can legally make dealers run NICS. Illegally they can and have.

 

[ironpony]

I have to look up how to add some trustees

 

[ericoak]

Another thing that I hadn't considered is that this will directly impact gun trust lawyers financials since people will be less likely to buy trusts. That will piss off a lot of attorneys. A lot of sell funded lawsuits could occur.

 

[BLS27]

What is going to possibly change about trusts? Should I be rushing out to start one?

Basically it will be done the same way that filing individually without a trust, is done. Even if you have a trust, you will still need a CLEO to sign off, photos and finger prints.

 

[shootin the breeze]

I had been planning on setting up a trust and getting some suppressors around March. If this rule passes, will there still be an advantage to create a trust or should I just make purchases as an individual? I was going to include my daughter in the trust, but she's an active duty Marine and getting her fingerprints and photo for each purchase would be damn near impossible.

That's the way to go but in my experience while active duty, getting printed for non military reasons was like flying CAT V Space A. Another episode of "Hurry up and wait".

 

[Overboost44]

I have to look up how to add some trustees

I can help you with the spelling of my name.

 

[Pinecone]

Basically it will be done the same way that filing individually without a trust, is done. Even if you have a trust, you will still need a CLEO to sign off, photos and finger prints.

And how do you know this?