Need some Input

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Originally Posted by Toyoland66

Is there a potential for a "cute" or non PC trust name causing issues with form approval?

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Just use common sense and as short a name possible for your trust, you'll be GTG. Also keep in mind when having a Form 1 item engraved / laser etched etc, you pay by the letter.

I think you should go for the In God We Trust. :)

O2

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Originally Posted by O2HeN2

I think you should go for the In God We Trust. :)

O2

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I've probably heard this one at least a dozen times over the last 2 years.

Here's what I tell people:

1. Don't get too cute because having a bureaucrat take special interest in your paperwork is almost never a good thing.

2. Try to be at least a little bit unique. Legally, there are tie-breakers to distinguish between two Trusts bearing the same name, but it's better to avoid the issue if at all possible.

3. Keep it short and mostly anonymous if you anticipate EVER building an NFA item.

Thanks for all the support you all have given me over the past couple of years!

RWW

Plan on a trust this year and will be using NFATG. Have a couple of questions.
1. Should I put handguns and other firearms (non NFA ar15's) in the trust? Thinking about when I Ddie that transfer to daughter will be easier.
2. If putting non NFA items in trust does trust name need to be engraved on them?
3. Putting daughter or other persons, can they store NFA items at their house? Different address than mine which is where trusrt will be.
4. With threat of ATF changing CLEO and fingerprint requirements this year, does having a trust without having firearms listed yet a good idea? Can you then add other items without CLEO and fingerprints?



Thanks
Roger

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Originally Posted by Roger Ronas

Plan on a trust this year and will be using NFATG. Have a couple of questions.

1. Should I put handguns and other firearms (non NFA ar15's) in the trust? Thinking about when I Ddie that transfer to daughter will be easier. If the trust was not done prior to 7/13 She and others on the Trust will need to have a BG check done , when transferring .

2. If putting non NFA items in trust does trust name need to be engraved on them?
NO. You'll kill any sale able value of them. Engraving AFAIK is for Form 1 items. My Trust FACTORY suppressors are not engraved. Someone with more knowledge can clarify.

3. Putting daughter or other persons, can they store NFA items at their house? Different address than mine which is where trusrt will be.

YES I give someone on the trust a copy of CO-TRUSTEE (paperwork not on hand for specific wording) This is for suppressors. A SBR, AOW, OR SBS (Firearm) requires a BG check.

4. With threat of ATF changing CLEO and fingerprint requirements this year, does having a trust without having firearms listed yet a good idea? Can you then add other items without CLEO and fingerprints?
That sign off if and when it happens is for NFA Items ONLY.





Thanks
Roger

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Regarding Item #1 IF no one is the wiser who does or doesn't have possession of guns, why advertise / worry?


You're over thinking & worrying about firearms not regulated to NFA Status. Read the ATF NFA website for better clarification of what a NFA item is. One thing to keep in mind. IF you die ALL NFA items can be transferred to a Family member not on the trust, by doing a Form 5. It's no cost (TAX Stamp) to do so.


ALL my firearms are spoken for when i keel over. There are both Family & Non - Family members who will handle distribution of my toys. It might help to have someone familiar with values of NFA on the trust. SOMEONE you, your spouse (if applicable) and other family members have trust in.
I'm currently inventorying my toys with a base value for each and links on - line where she can find comparable values.

DON'T take what i replied to as Gospel. ALWAYS consult with an Attorney, and people more knowledgeable than myself ;)

Thank You
Will find the NFA link to read up on it.

Roger

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Originally Posted by Great-Kazoo

Regarding Item #1 IF no one is the wiser who does or doesn't have possession of guns, why advertise / worry?


You're over thinking & worrying about firearms not regulated to NFA Status. Read the ATF NFA website for better clarification of what a NFA item is. One thing to keep in mind. IF you die ALL NFA items can be transferred to a Family member not on the trust, by doing a Form 5. It's no cost (TAX Stamp) to do so.


ALL my firearms are spoken for when i keel over. There are both Family & Non - Family members who will handle distribution of my toys. It might help to have someone familiar with values of NFA on the trust. SOMEONE you, your spouse (if applicable) and other family members have trust in.
I'm currently inventorying my toys with a base value for each and links on - line where she can find comparable values.

DON'T take what i replied to as Gospel. ALWAYS consult with an Attorney, and people more knowledgeable than myself ;)

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Quote:

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Originally Posted by Roger Ronas https://www.ar-15.co/images/tf_ideal...post-right.png
Plan on a trust this year and will be using NFATG. Have a couple of questions.

1. Should I put handguns and other firearms (non NFA ar15's) in the trust? Thinking about when I Ddie that transfer to daughter will be easier. If the trust was not done prior to 7/13 She and others on the Trust will need to have a BG check done , when transferring .

2. If putting non NFA items in trust does trust name need to be engraved on them?
NO. You'll kill any sale able value of them. Engraving AFAIK is for Form 1 items. My Trust FACTORY suppressors are not engraved. Someone with more knowledge can clarify.

3. Putting daughter or other persons, can they store NFA items at their house? Different address than mine which is where trusrt will be.

YES I give someone on the trust a copy of CO-TRUSTEE (paperwork not on hand for specific wording) This is for suppressors. A SBR, AOW, OR SBS (Firearm) requires a BG check.

4. With threat of ATF changing CLEO and fingerprint requirements this year, does having a trust without having firearms listed yet a good idea? Can you then add other items without CLEO and fingerprints?

That sign off if and when it happens is for NFA Items ONLY.

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Quote:

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Originally Posted by Great-Kazoo

Regarding Item #1 IF no one is the wiser who does or doesn't have possession of guns, why advertise / worry?


You're over thinking & worrying about firearms not regulated to NFA Status. Read the ATF NFA website for better clarification of what a NFA item is. One thing to keep in mind. IF you die ALL NFA items can be transferred to a Family member not on the trust, by doing a Form 5. It's no cost (TAX Stamp) to do so.


ALL my firearms are spoken for when i keel over. There are both Family & Non - Family members who will handle distribution of my toys. It might help to have someone familiar with values of NFA on the trust. SOMEONE you, your spouse (if applicable) and other family members have trust in.
I'm currently inventorying my toys with a base value for each and links on - line where she can find comparable values.

DON'T take what i replied to as Gospel. ALWAYS consult with an Attorney, and people more knowledgeable than myself ;)

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WRT #4: FWIW, I was advised to do so by NFATG, and assigned/transferred a qty of +15 rd magazines into the trust, prior to July 1 2013, that in the event of my demise, they may be legally possessed by my surviving co-trustee or beneficiaries. For those that did not have the opportunity, we can only hope that said persons already possessed those items or the stupid law gets repealed.

I also transferred, sans any advice or consent, a qty of lowers in the event I might have a desire to SBR them.

Standard disclaimer as above, and in all cases of doubt, consult with your trust attorney.