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Discussion in 'NFA & Class III Discussion' started by Rimfire, Nov 19, 2012.
Anyone have an email for him?
Howard Perkins is a Tulsa Area guy that has loads of NFA knowledge
Somewhat related question. Can you put non-NFA guns in it too? I'd like to designate certain parts (mostly inherited) of my collection going to certain individuals when I pass. Seems like it would be easy to just name them as successor trustees. Also seems like it could possibly throw a wrench into the confiscation when one passes if certain laws are passed since the trust will still be the owner. I don't think that anything remotely like the rumors is going to pass anytime soon, but they aren't going to stop trying either.
Just had my trust done by Matt Winton, excellent job.
I wonder in all the new anti-gun legislation if they will take the trust option away. Guess I had better get one done beforehand and hope those grandfathered in survive.
Only proposed new changes to NFA procedures is to do away with needing a CLEO signoff for the individual route (good thing) and requiring fingerprints/photos for ALL members of a trust (not so good thing).
Great can't wait to fingerprint my feisty 2 1/2 yr old. I think for now the trust route makes it easier to leave stuff to my two boys.
There is nothing hard about transferring NFA items owned by an individual. They transfer tax free on an ATF Form 5 to your lawful heirs.
I don't think I'd put a person under 18 on an NFA trust to begin with.
The transfer process is just as easy with individual ownership as it is with a trust. Tax free form 5 as CAR mentioned.
I was going the place my brother-in-law on there as the administrator until they reach 18. I know the ATF allows someone to hold them until the kids reach the legal age. I am not as worried about the NFA stuff now, but down the line should this be the start of a completely different egun nvironment. The gun haters have been waiting for a moment like this for a long time.