NFA Trust

[Seamonkey]

A trust is effectively a legal box that I can put property into and I can control who has access to said property. With a trust you avoid having to get a CLEO signature as well as fingerprints. Also, I can add people into the trust wording so they too can possess my trust's NFA toys (as a military guy that can be handy should I move somewhere that isn't NFA friendly).

+1

Some people live in an area where they can't get the LEO signature so a LLC or trust is a better option.
Personally I went trust due to the ability to add people to the trust. Then I can store an item in that person's safe while I'm OCONUS or something.

PM sent on the lawyer I used

[gos]

+1

Some people live in an area where they can't get the LEO signature so a LLC or trust is a better option.
Personally I went trust due to the ability to add people to the trust. Then I can store an item in that person's safe while I'm OCONUS or something.

PM sent on the lawyer I used

legally, you can store an nfa item in a friend's safe, if it's in a locked case and your friend does not have the key. copy of the stamp must stay with the item.

[SAnd]

A trust is the same as a person. You transfer NFA items to a trust the same as an individual. Anything a person can do a trust can do.

You fill out the ATF Form with the trust's name as the person aquiring the item. Instead of a person's name you put the name of the trust. A trustee of the trust will sign the paperwork for the trust. The trustee doesn't have to do the CLEO signoff stuff that goes with a Form.

You will have to pay a transfer tax to move something into a trust if you already own the NFA item. Same thing if you're moving something out of a trust to you as an individual.

[ray1970]

Not trying to hi-jack the thread either, but does anyone who has a trust set up for NFA items know what I would have to do as far as taxes. I mean, would I have to file something with the IRS annually? Please shoot me a PM if you know. I live in an area where the CLEOs won't sign off and am not in a position where I can relocate to a friendlier area. Thanks.