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One of our sponsors setting up trust with purchase?

Discussion in 'NFA & Class III Discussion' started by edwards, Oct 7, 2009.

  1. mmcbeat

    mmcbeat Sharpshooter

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    I would rather stay local if I can. Still have some homework to do but I am thinking Gemtech Tundra (9MM). Comments? Thanks!:thumb:
     
  2. 10.5stang

    10.5stang Sharpshooter

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    We do the paperwork (trust or ind.) for free if you purchase the item (lower for SBR or silencer) from us. We are in Tulsa at least one time a month for a gunshow or we would be glad to mail it to you and have you fill it out and have it notarized and mail it out yourself.
     
  3. hk33

    hk33 Sharpshooter

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    I know a lot of Tulsa people can't get a sign off so they have to go the trust route. If you can get a sign-off I highly recommend that you just go get it, it is not that difficult and less likely to cause problems in the future.

    I no nothing about MAJ's trusts or how they are set-up but you need to make sure the trust is set-up correctly becasue BATF is going to be going after invalid trusts. They don't like them to begin with and if they can find a reason to invalidate it they will.

    http://blog.princelaw.com/2009/5/22/batfe-seeks-to-seize-nfa-firearms-from-an-invalid-trust

    The situation above was resolved in favor of the gun owner but I bet it wasn't cheap.
     
  4. Tazdev67

    Tazdev67 Marksman

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    Don't most states require trusts and legal documents be filed with the county you live in? From what I have heard the ones that are in trouble with their trusts didn't file them or pay the proper fees in their states.

    I don't believe Oklahoma requires you to file a trust to make it legal and binding but I am not a lawyer.
     
  5. Jza

    Jza Sharpshooter

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    The problem in that case was the guy used some software to generate his paperwork and it wasn't correct.
    The above mentioned people (MAS and the Maj) deal with these things daily and in the state of Oklahoma, so you're actually a lot better off with a trust that they helped you draw up.

    There are definitely some notable differences between the trust paperwork you find online, and the stuff these guys help you draw up.
     
  6. ChrisC

    ChrisC Sharpshooter

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    MAS took care of me...
     
  7. hk33

    hk33 Sharpshooter

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    I understand that and like I said I don't know anything about the Majors trusts. In my opinion, the risks of a trust outweigh the benefits when you can get a sign-off. In otherwords don't take what appears to be an easier route to NFA ownership. In the long run it may not be the best.
     
  8. WhiteyMacD

    WhiteyMacD Sharpshooter

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    That all depends on the total picture though. Considering what happens when I die, dont really want my kids/wife to have to pay several tax stamps just to retain my firearms.
     
  9. tyromeo55

    tyromeo55 Sharpshooter

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    Upon your death they would only be responsible for a $5 tax per item.
     
  10. hk33

    hk33 Sharpshooter

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    Where did you get the $5 info, just curious? Transfer to lawful heir goes on a Form 5 - "Aplication for Tax Exempt Transfer and Registration of Firearm"

    http://www.atf.gov/forms/pdfs/f53205.pdf

    The form 5 needs a sign-off and fingerprints so there would be the expense for that.
     

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