1. Welcome to Oklahoma Shooters Association! Join today, registration is easy!

    You can register using your Google, Facebook, or Twitter account, just click here.

Advantages of Trust

Discussion in 'NFA & Class III Discussion' started by Uncle_tom79, Mar 11, 2016.

  1. Uncle_tom79

    Uncle_tom79 Marksman

    Messages:
    5
    Likes Received:
    0
    Joined:
    Nov 26, 2012
    Location:
    Lawton
    Thinking about a building a SBR and suppressor on form 1's. I'm confused on the changes coming regarding NFA trusts. Will Cleo signature, prints and photos be required on trusts made before the deadline? Or only those filed afterward? If I create a trust before the deadline and have to obtain a signature, prints and passport photo to be compliant, what's the advantage in getting a trust in the first place?

    Sorry if the questions are basic, I've tried searching, but I've found contradictory information.

    Thanks
     
  2. NikatKimber

    NikatKimber Moderator Staff Member

    Moderator
    Messages:
    20,461
    Likes Received:
    1,136
    Joined:
    Jan 2, 2006
    Location:
    Claremore
    Rating
    100%
    Only those filed after the deadline, I think.

    IMO, the advantage to the trust is that I can name other people who can possess the item without supervision. IE, I am married, so my wife can use them without me.
     
  3. repete34

    repete34 Sharpshooter

    Messages:
    1,819
    Likes Received:
    23
    Joined:
    Feb 3, 2008
    Location:
    8722 E 41st St, Tulsa, OK 74145
    Rating
    100%
    before deadline you have to get LE to sign on an individual not a trust plus fingerprints and photo. After the deadline you don't have le sign either and both have to to have fingerprint and photo. But we at Safe Home consulting / Bear Beam firearms can do the fingerprint and photo for you as well as a trust if you wish.
     
  4. tRidiot

    tRidiot Sharpshooter

    Supporter
    Messages:
    16,065
    Likes Received:
    6,020
    Joined:
    Oct 23, 2009
    Location:
    Bartlesville
    Rating
    100%
    For me, the real advantage of a trust was the ability to pass along my NFA items to my wife or son when he gets old enough, for them to be able to use them not in my presence, etc. My wife and I are both on the trust, my son will be when he comes of age, I might put my neighbor on there so he can use some of the stuff, as well.

    For me, a trust was a no-brainer. If you have them in your personal name, if you die, they will need to be re-transferred at another $200 each, as well as all the paperwork and who knows how many months processing. It's just a hassle no family wants to deal with at a time like that, and keeping them without transferring would be illegal. I don't want my family to have that burden. I spent a coupla hundred on my trust and now for not just the length of my life, but into perpetuity my NFA items will be able to be managed quickly and easily by adding or dropping members from the trust.
     
  5. Mad Professor

    Mad Professor Sharpshooter

    Messages:
    1,849
    Likes Received:
    877
    Joined:
    Dec 1, 2008
    Location:
    Moore, OK
    Rating
    100%
    While the hassle is still there, it it a no-cost transfer in this case.
     
  6. Uncle_tom79

    Uncle_tom79 Marksman

    Messages:
    5
    Likes Received:
    0
    Joined:
    Nov 26, 2012
    Location:
    Lawton
    I appreciate all the responses, very helpful. I'm not sure a trust would benefit me. I am unmarried, no children. Getting a signature from the sheriff isn't an issue. Unless I'm missing something?
     
  7. tRidiot

    tRidiot Sharpshooter

    Supporter
    Messages:
    16,065
    Likes Received:
    6,020
    Joined:
    Oct 23, 2009
    Location:
    Bartlesville
    Rating
    100%
    Are you sure about this? Not what I was under the impression of, but either way...
     
  8. Mad Professor

    Mad Professor Sharpshooter

    Messages:
    1,849
    Likes Received:
    877
    Joined:
    Dec 1, 2008
    Location:
    Moore, OK
    Rating
    100%
    Yes. A form 5 is used.

    https://www.atf.gov/file/58231/download

    9.5.3 has more details.
     
  9. tRidiot

    tRidiot Sharpshooter

    Supporter
    Messages:
    16,065
    Likes Received:
    6,020
    Joined:
    Oct 23, 2009
    Location:
    Bartlesville
    Rating
    100%
    Ok, I see it now... has to go through state court and be approved as a probate issue, then through ATF. What a PITA. Even more reason to have a trust, IMO. Good to know the fees don't apply, but you can damn sure bet the red tape does.
     
  10. CAR-AR-M16

    CAR-AR-M16 Sharpshooter

    Messages:
    5,633
    Likes Received:
    132
    Joined:
    Sep 6, 2005
    Location:
    Duncan
    Rating
    100%
    It is not that big of a pain. Everything else is going thru probate too, so one more thing is not a big deal. The Form 5 is simple and ATF usually expedites them.
     

Share This Page