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The Range
NFA & Class III Discussion
Any Trust lawyer recommendations?
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<blockquote data-quote="TJay74" data-source="post: 3399559" data-attributes="member: 5857"><p>As it is now, you still dont with or without the trust. Originally it was a way to avoid the background checks but now with the loophole closed the RPQ has to be filled out for every member on the board any time a new Class 3 item is added to the trust.</p><p></p><p>With or without a trust a personal representative for the estate takes possession of the Class 3 items and holds them, then once legal ownership is determined all the new owner has to do is file for a transfer of the Form 4 from the deceased owner to the new owner. The ATF doesnt charge for this as far as the tax stamp goes, the person is just out the passport picture fees and the finger print fees to the sheriff.</p><p></p><p>I went thru this 3 years ago when my Dad passed away who was on my trust, then I bought a suppressor under the same trust (pain in the ass) and then just recently bought a SBR under my personal name. The one advantage the Trust gives you is that any person can take the item with the Form 4 on it and have possession of it and use it where when the item is under the name of a person, legally under current rules the person who's name is on the form 4 either has to be with the item or in possession of the item.</p><p></p><p>It is kind of a pain now, it was a great idea when the loop hole worked.</p></blockquote><p></p>
[QUOTE="TJay74, post: 3399559, member: 5857"] As it is now, you still dont with or without the trust. Originally it was a way to avoid the background checks but now with the loophole closed the RPQ has to be filled out for every member on the board any time a new Class 3 item is added to the trust. With or without a trust a personal representative for the estate takes possession of the Class 3 items and holds them, then once legal ownership is determined all the new owner has to do is file for a transfer of the Form 4 from the deceased owner to the new owner. The ATF doesnt charge for this as far as the tax stamp goes, the person is just out the passport picture fees and the finger print fees to the sheriff. I went thru this 3 years ago when my Dad passed away who was on my trust, then I bought a suppressor under the same trust (pain in the ass) and then just recently bought a SBR under my personal name. The one advantage the Trust gives you is that any person can take the item with the Form 4 on it and have possession of it and use it where when the item is under the name of a person, legally under current rules the person who's name is on the form 4 either has to be with the item or in possession of the item. It is kind of a pain now, it was a great idea when the loop hole worked. [/QUOTE]
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Any Trust lawyer recommendations?
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