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  • BryanR

    Member
    Sep 1, 2015
    20
    I have a few items in a trust in which I am the only trustee. If I were to get some more items, is there any advantage or disadvantage to getting the new items as an individual ? Or is it better to just have everything in the trust?

    I am not talking about the wait times.... thinking more along the lines of transfer...5320....storage type issues.

    Thanks...Bryan
     

    Sticky

    Beware of Dog
    MDS Supporter
    Mar 16, 2013
    4,500
    AA Co
    It seems wait times for individuals are less than for a trust now and... you can always transfer property into your trust that you own... that's what I will do for my next stamps, apply as individual, transfer them to my trust when received and completed.
     

    pitbull

    Active Member
    Jan 23, 2013
    203
    I was under the impression taking items from an individual to a trust would be another stamp and wait.
     

    holesonpaper

    Active Member
    Mar 10, 2017
    912
    Hazzard county
    I’m sure other folks will chime in, but as I understand that transfer is another tax stamp. The only exception is in death where it transfers as part of inheritance. In that case its still a transfer but no $$$$.
     

    Sundazes

    My brain hurts
    MDS Supporter
    Nov 13, 2006
    21,172
    Arkham
    I was under the impression taking items from an individual to a trust would be another stamp and wait.

    Yes, it would be another stamp. But you would have possession as an individual while the trust transfer was in process. It would cost another 200 plus prints and photos. I looked at doing that, but I just went ahead did the trust since I am my only trustee.
     

    Sharpeneddark

    Ultimate Member
    Mar 20, 2013
    2,292
    Westminster
    If you already have a trust, I'd recommend you keep adding items to it...if wait times are not the issue. I did individual because I didn't see the need for a trust (especially in a post 41F world), but if I had established one, I would be adding to it even after 41F, just to keep things straight.
     

    rob-cubed

    In need of moderation
    Sep 24, 2009
    5,387
    Holding the line in Baltimore
    Have you already fingerprinted, photo'd, and qualified yourself as a "responsible person" on the trust per 41F? If so, definitely just add them to the trust. This gives you more legal options moving forward should you want a family member to share or inherit your NFA items without jumping through more tax hoops.
     

    SC-Texas

    Active Member
    Industry Partner
    Oct 12, 2017
    193
    I still think the trust is the way to go. the wait times are going to come down. In speaking with examiners at the BATFE regarding a couple of misinterpretation of who is and who is not a RP, it seems as though there is some confusion and the BATFE is spending a lot of time figuring out who they think is an RP.

    I have prepared a 2 page explanation of the rule that i send to these examiners on behalf of my gun trust clients.

    The trust still offers you future flexibility as your life and needs change.
     

    erwos

    The Hebrew Hammer
    MDS Supporter
    Mar 25, 2009
    13,860
    Rockville, MD
    What is the difference in wait time for individual versus trust?
    Individual is about six months, trust is like a year.

    I did two cans today as an individual, but only because I couldn't use the SS kiosk to do it. I would still use a trust when given the (easy) option, even with the longer wait times.
     

    Ports

    Member
    Aug 11, 2014
    66
    My current suppressor form 4 through a trust is going on 14 months. My wife and I are trustees.


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