Filing individual vs trust and Why

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tynyphil

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Didn’t really care. Since silencer central was doing for free I went with their recommendation. Probably easier for them, but I didn’t care. No attorneys involved
 

OKCHunter

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Didn’t really care. Since silencer central was doing for free I went with their recommendation. Probably easier for them, but I didn’t care. No attorneys involved
I could see that as the case if more than just you are listed in the Trust. When I initially setup a Trust for the SBR, I was the only one needing fingerprint, etc. However, after adding my wife to the Trust, and I believe the rules changed, we both had to go through fingerprinting, etc. when I added the Suppressors. Someone please correct me if I’m wrong but I think everyone listed in the Trust now has to go through the fingerprinting and background check process when new items are added.
 

oksooner96

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If you have kids or a wife, the trust enables the wife to legally have access to your safe, and for your kids to easily inherit them when you pass on, if they're old enough. If you have no one, you don't need a trust.
If you DON'T have a safe, and you have anyone living at home with you, a trust will be cheaper than buying a safe, but both would be smarter.

I didn't think about my wife, we go shooting together all of the time. So with the individual, would she been even allowed to shoot it legally?
 

CutBaitNBlowSh*tUp4ALivin

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I didn't think about my wife, we go shooting together all of the time. So with the individual, would she been even allowed to shoot it legally?
Yeah if you're there at the range with her. But at home she can't have access to it if you're not with her if it's on an individual, and she can't take it shooting without you
 

SoonerP226

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The attorney I know who had a trust created for an NFA item did it for estate planning purposes. F'rinstance, if you don't have it in a trust and leave the item to your child, but they get a felony conviction or move to a locality where an NFA item is a no-go, what do you do? If it's in a trust, it just stays in the trust and any other trustee (assuming you didn't choose your trustees poorly) can take possession of it.

I think the trust issue has changed since he had the trust created, but that was the reasoning he explained to me at the time. (FWIW, he didn't create the trust, he had another attorney do it for him.)
 

mr ed

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Who is an NFA Trust NOT For​


If you have no desire to share NFA guns with other people, then don’t get a trust!


As we mentioned above (and we’ll explore more below), there used to be specific legal beneifits to getting a trust. In fact, without one, people in certain counties couldn’t posess things like a short barreled rifle (SBR) or a short barreled shotgun (SBS) because of the CLEO requirement.


A regular NFA trust is NOT a good thing to get “just because.” If you set up a regular NFA trust, you will have some paperwork to manage and EVERY time a firearm is added as trust property, EACH person on the trust will need to be fingerprinted and fill out paperwork.


That can be a real pain (e.g. NOT a benefit). However, that only needs to happen when you add new items to the existing trust.


Silencer Shop came up with a very creative workaround to this problem: the Single Shot NFA Gun Trust wherein you make a new trust for every NFA item so the same people aren’t necessarily added to every firearm. It’s super simple and fast – we cover it in more detail below.


If you want to legally share NFA firearms with others, then a trust may be worth it. However, if that’s really not that practical of an idea for you to share gun ownership (possession) with others, then the burden to get that tax stamp is likely too much.


It’s your call – and you really won’t go wrong either way as long as you decide what’s best for you and whether others might have access to your NFA firearm.

As I read this if the people you add to the trust were not fingerprinted, photographed and background checked, your trust is worthless.

Reprinted from gun univerity .com
 

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