To Trust or Not to Trust?

Mike OTDP · Jul 9, 2015

All of my previous NFA transfers have been on an individual Form 4. However, I've got an Uzi in Form 3 transfer now...should I be thinking of getting a trust for this one transfer? Just to save myself the trouble of driving up to Pikesville from Deep Southern Maryland?

erwos · Jul 9, 2015

Depends on how much you're going to spend on the trust. Given the proposed upcoming changes, it's less of a long-term slam dunk than it used to be.

Tconfo · Jul 9, 2015

Trust. So much easier. What up comming changes are you talking about?

daNattyFatty · Jul 9, 2015

Tconfo said:
Trust. So much easier. What up comming changes are you talking about?

ATF proposal 41P. Basically, it would require all trustees to get fingerprinted, photographed, CLEO signoff for purchases. There's been so much opposition that a time frame for the ruling has been pushed back several times now. I think, at this point, there is no time frame for a ruling.

http://www.ammoland.com/2013/10/the-next-gun-grab-atf-41p-targets-nfa-trusts/

EDIT: ATF says "quite some time" before anything happens.

https://www.guntrustlawyer.com/2015...plementation-for-41p-for-quite-some-time.html

JohnnyE · Jul 9, 2015

I'd recommend a trust. That way, the trustee (you) can add and remove beneficiaries any time you wish. Beneficiaries can possess and use the gun without you being there. This eliminates a lot of the complications you'd all have if the gun was owned individually. Brit Stouffer did my trust. She's an IP here and was a delight to deal with.

bobthefisher · Jul 9, 2015

The ATF \ executive branch, will probably be making a decision this coming December, along with many other executive decisions on firearms regulations.

The question you should ask, is do you at least plan on getting another NFA item in the next five months? If so, I'd say go for it, but you better hurry.

rbird7282 · Jul 9, 2015

JohnnyE said:
I'd recommend a trust. That way, the trustee (you) can add and remove beneficiaries any time you wish. Beneficiaries can possess and use the gun without you being there. This eliminates a lot of the complications you'd all have if the gun was owned individually. Brit Stouffer did my trust. She's an IP here and was a delight to deal with.

ALL OF THE ABOVE. Get a trust and don't look back, besides its not like you're going to own just one suppressor.........they multiply on their own.

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Mike OTDP · Jul 9, 2015

I own several cans already, my last is in Form 4 transfer now. This would be for a subgun. It's simply that for someone living in Deep Southern MD, Pikesville is a 2-hour drive each way.

rico903 · Jul 10, 2015

Mike OTDP said:
I own several cans already, my last is in Form 4 transfer now. This would be for a subgun. It's simply that for someone living in Deep Southern MD, Pikesville is a 2-hour drive each way.

Will your local Sheriff sign off? If not I'd go trust for all reasons mentioned.

Mike OTDP · Jul 10, 2015

He did for the suppressor. Not sure about full auto.

rob-cubed · Jul 11, 2015

Right now, a trust is still the streamlined way to go. Make use of one while you can.

Even if the BATFE adds new requirements for trustees in the future, a trust can still be the right choice. Particularly if you have kids or close family members with whom you'd like to share possession of--or eventually pass along to--your NFA items.

To Trust or Not to Trust?

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