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Forums
The Range
NFA & Class III Discussion
Filing individual vs trust and Why
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<blockquote data-quote="mr ed" data-source="post: 3952369" data-attributes="member: 6777"><p><h3>Who is an NFA Trust NOT For</h3><p></p><p>If you have no desire to share NFA guns with other people, then don’t get a trust!</p><p></p><p> </p><p>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.</p><p></p><p> </p><p>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.</p><p></p><p> </p><p>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.</p><p></p><p> </p><p>Silencer Shop came up with a very creative workaround to this problem: the <a href="https://www.silencershop.com/single-shot-trust.html" target="_blank">Single Shot NFA Gun Trust</a> 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.</p><p></p><p> </p><p>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.</p><p></p><p> </p><p>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.</p><p></p><p><strong>As I read this if the people you add to the trust were not fingerprinted, photographed and background checked, your trust is worthless.</strong></p><p><strong></strong></p><p><strong>Reprinted from gun univerity .com</strong></p></blockquote><p></p>
[QUOTE="mr ed, post: 3952369, member: 6777"] [HEADING=2]Who is an NFA Trust NOT For[/HEADING] 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 [URL='https://www.silencershop.com/single-shot-trust.html']Single Shot NFA Gun Trust[/URL] 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. [B]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[/B] [/QUOTE]
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