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The Range
NFA & Class III Discussion
Best Way to Own NFA Firearms/ Items (Personal, Trust, LLC)?
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<blockquote data-quote="forindooruseonly" data-source="post: 1301677" data-attributes="member: 13718"><p>I opted for personal ownership. CLEO sign off isn't a problem for me, and I didn't want the hassle of creating a trust through an attorney. I know some people use will maker, but I don't think I'd do that.</p><p></p><p>The main advantage of a trust, in my opinion, is the ease which several people can use the same item. As I understand it, as long as they are listed in the trust, they are allowed to use the gun. On the other hand, I don't want my guns used without me being there, so it that didn't sway me to use a trust. For others, it is the way around the CLEO sign off that is the advantage.</p><p></p><p>My attitude was this - building a trust would take just about the same time and effort as getting my CLEO to sign off and fingerprinted. The tax is the same, but the guns remain my personal property. Since the trust route is getting so popular, I also wonder how long it will be before there is a big uproar about it. I would hate to have the ATF do something unreasonable or contradictory in their rulings which jeopardized the validity of trust weapons. They have a history of having conflicting policies. </p><p></p><p>I don't know. That is the route I took. I figured I was spending thousands and thousands of dollars on multiple machine guns and the best way to protect them was to make them personal property. The argument between trust and personal ownership rages on, and I think much of it has to do with personal preference. I've never met, or even heard of, a trust owner who wasn't completely satisfied with his decision and that says something. Me, I feel better with the personal route.</p></blockquote><p></p>
[QUOTE="forindooruseonly, post: 1301677, member: 13718"] I opted for personal ownership. CLEO sign off isn't a problem for me, and I didn't want the hassle of creating a trust through an attorney. I know some people use will maker, but I don't think I'd do that. The main advantage of a trust, in my opinion, is the ease which several people can use the same item. As I understand it, as long as they are listed in the trust, they are allowed to use the gun. On the other hand, I don't want my guns used without me being there, so it that didn't sway me to use a trust. For others, it is the way around the CLEO sign off that is the advantage. My attitude was this - building a trust would take just about the same time and effort as getting my CLEO to sign off and fingerprinted. The tax is the same, but the guns remain my personal property. Since the trust route is getting so popular, I also wonder how long it will be before there is a big uproar about it. I would hate to have the ATF do something unreasonable or contradictory in their rulings which jeopardized the validity of trust weapons. They have a history of having conflicting policies. I don't know. That is the route I took. I figured I was spending thousands and thousands of dollars on multiple machine guns and the best way to protect them was to make them personal property. The argument between trust and personal ownership rages on, and I think much of it has to do with personal preference. I've never met, or even heard of, a trust owner who wasn't completely satisfied with his decision and that says something. Me, I feel better with the personal route. [/QUOTE]
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NFA & Class III Discussion
Best Way to Own NFA Firearms/ Items (Personal, Trust, LLC)?
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