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NFA Gun Trust question

Discussion in 'NFA & Class III Discussion' started by ithrowicecubes, Oct 2, 2020.

  1. ithrowicecubes

    ithrowicecubes Sharpshooter

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    Have any of you created an NFA Gun Trust to handle your Class III gear?

    If so, any advice? Have an attorney to recommend to help with it?
     
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  2. mr ed

    mr ed Sharpshooter

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    Type in "trust" to OSA search bar there is 21 pages of posts.
     
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  3. TJay74

    TJay74 Sharpshooter

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    There really isnt much use to the Trust option anymore. It doesnt avoid any paperwork and actually requires more paperwork when you add new items under the trust.
     
  4. OKCHunter

    OKCHunter Sharpshooter

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    The biggest benefit for a trust is being able to add and remove people to the trust. Want to loan a suppressor to a friend? Add his name on an empty line and then remove his name when he returns the suppressor.

    My trust was prepared by an attorney here on OSA. Can’t remember his name. Came complete with all forms necessary, including forms to add and remove people at will, and was accepted with no problem by the ATF.
     
  5. TJay74

    TJay74 Sharpshooter

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    I just went thru this with my trust, in the eyes of the ATF it doesnt work like that. When I removed 2 people from my trust I had to draw up papers, have them signed and notarized and then sent to the ATF. Also at that point any new items that are added to the trust requires that ever person listed on the trust as a member fill out a RPQ form and submit their finger prints with the Form 4.

    The benefit of the trust died when Congress closed the loop holes that most all trust owners benefited from 5 years ago.
     
  6. OKCHunter

    OKCHunter Sharpshooter

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    Works that way with my trust as well. Which is why you want to keep the number of trustees low. I had not heard about the requirement to send notarized signatures to the ATF when removing people from the trust. You got a link to this requirement? Or, maybe one of our resident attorneys can weigh-in?
     
  7. tRidiot

    tRidiot Sharpshooter

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    Yeah my trust is set up to allow users and owners. Users can be easily added and removed. I haven't had any need to do so... how would the ATF even know you were adding or removing? I don't see it as a particular issue.

    The major benefit of a trust, IMO, is transfer to a family member if something happens to me. No need, just remove my dead ass from the trust.
     
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  8. OKCHunter

    OKCHunter Sharpshooter

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    It looks like to me like you can make amendments to the trust (signature, notary, etc.) to add or remove a responsible person from the trust. But, you don't need to send that information to the ATF. When adding new NFA items to the trust, you would send a copy of the original trust and all amendments to the ATF when applying for the tax stamp.

    https://www.nationalguntrusts.com/b...dding-a-responsible-person-to-a-nfa-gun-trust
     
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  9. TJay74

    TJay74 Sharpshooter

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    When we added another Class 3 item to our Trust the ATF made us send in a RPQ form for every person and finger prints for every person.

    Also based on the current laws, even for the items not in the trust a family member can take them over just fine. They can even get a new stamp in their name at no charge from the ATF once a new Form 4 is filled out from what the ATF investigator told me.
     
  10. OKCHunter

    OKCHunter Sharpshooter

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    The information for passing along non-trust items is something I didn’t know and had wondered about. Thanks. However, it doesn’t apply to me since all items are in the trust.

    The posts I made above were focused on the requirements to add and remove people from a trust which would allow for friends and family to be in legal possession of the class 3 items owned by the trust; I would just need to amend the trust. This is really the only benefit I can see for a trust other than the smooth and immediate transition of the class 3 items to others listed in the trust, for whatever reason including my death.

    Just curious because I don’t know the answer: can others ever be in possession of your non-trust owned items without doing a transfer / stamp process?

    Edit: Also, who can legally possess the non-trust class 3 items in the event of the owners death while another person is waiting for the approval process? Again, asking because I’ve got no idea.
     
    Last edited: Oct 8, 2020

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