Can You Register a Can as an Individual and then Transfer to a Trust?

calicojack · Sep 1, 2019

Can You Register a Can as an Individual, and then Transfer to a Trust, after approval? Just wondering?

calicojack · Sep 1, 2019

Here is the reason I ask; I don't want to have to get everyone on my current trust finger printed before buying another can or SBR.

FFBWMD · Sep 1, 2019

calicojack said:
Here is the reason I ask; I don't want to have to get everyone on my current trust finger printed before buying another can or SBR.

Yes, but you will pay another $200.00 tax stamp. And they will all have to be fingerprinted for anything transferred to the trust they are on.

calicojack · Sep 1, 2019

ok. Can I take the other family members off the Trust; apply for a new Can and/or Form 1 SBR, and then subsequently add them back? Of course in the inter-rum my family has no access to the NFA items; might be complicated if something happens to me (?)

DaemonAssassin · Sep 1, 2019

calicojack · Sep 1, 2019

I will just bite the bullet and get photos and prints for all.

Now, time for a couple of form ones and a Can for both of them ...

inkd · Sep 1, 2019

If the people who are on the trust are only there in the event something happens to you and they need to take possesion of the items, there is a way that they can be a part of the trust but not be finger printed, pictures taken, etc.

I'll see if I can find the article I was reading about it because I need to do it since the guy I had on my trust doesn't want to go through the process. He only agreed to be on it so that in the event something happened to me, he could take care of the items.

blksniper2000 · Sep 1, 2019

Talk to whoever made your trust, you can probably do an amendment form and temporary take them off during the transfer and put them back after it’s completed. I have done this with 2 transfers

Dovk0802 · Sep 1, 2019

INAL however, if something happens to me, the successor trustee takes responsibility of trust property and duties. You might want to look in to that.

W2D · Sep 1, 2019

I figured on going individual for my latest acquisition. If my daughter expresses interest, I’ll create a trust then. Maybe won’t even be an issue one way or another in 10 years?

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rbird7282 · Sep 1, 2019

W2D said:
I figured on going individual for my latest acquisition. If my daughter expresses interest, I’ll create a trust then. Maybe won’t even be an issue one way or another in 10 years?

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But if you buy it as an individual then want to put it into a trust, it’s another $200 for the transfer to your trust

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calicojack · Sep 1, 2019

blksniper2000 said:
Talk to whoever made your trust, you can probably do an amendment form and temporary take them off during the transfer and put them back after it’s completed. I have done this with 2 transfers

You just jarred my memory. I think my lawyer made an off hand remark to that effect when we were talking once.

calicojack · Sep 2, 2019

rbird7282 said:
But if you buy it as an individual then want to put it into a trust, it’s another $200 for the transfer to your trust

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Which FFBWMD pointed out as well.

rbird7282 · Sep 2, 2019

calicojack said:
Which FFBWMD pointed out as well.

Whoops, missed that.

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erwos · Sep 2, 2019

I will just say that repeatedly pulling people on and off your trust during acquisitions is going to look extremely shady if there is ever a court case regarding those items - especially if one of your fellow trustees misuses them and never actually had a BG check done. Tread carefully.

Further, amending your trust is not a trivial procedure if you want it to hold up legally. You need to write this stuff down formally, and probably notarize it. As above - if the ATF ever actually looks into all this and finds that you improperly executed your amendments and, in fact, sent them an invalid version of your trust for approval, your life will get extremely complicated very quickly.

Don't play stupid games, and you won't win stupid prizes.

lazarus · Sep 3, 2019

Or just do a single shot trust. Or write up the equivalent. Basically each item is it’s own trust. Then once approved you add people to it. You might end up with a lot of trusts, but easier in the long run maybe.

lazarus · Sep 3, 2019

W2D said:
I figured on going individual for my latest acquisition. If my daughter expresses interest, I’ll create a trust then. Maybe won’t even be an issue one way or another in 10 years?

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I considered it, but I’ve got no clue what my wife and kids interest will be. Wife doesn’t like guns, but she seems to enjoy shooting a 22. I’d bet she’d love shooting a 22 with a can. If nothing else I’d like her on a trust so if anything does happen to me it is easier for her to handle.

Also allows me to add any of my kids if they are interested and seem responsible enough once they are adults.

I guess for me it might be or would have been easier to do a trust with just me on it and then add family members later once there is whatever I want in the trust.

But I could still be adding stuff 20 years from now. Dunno. Six of one half a dozen of another. Going to be a LOT of paperwork to hold on to (or so I hope).

Can You Register a Can as an Individual and then Transfer to a Trust?

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