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NFA Gun Trust Question

Discussion in 'General Firearms Forum' started by 20SFLV, Mar 13, 2012.

  1. 20SFLV

    20SFLV

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    I am setting up a gun trust for class 3 devices, and I was wondering if anyone had a sample trust that dealt with the NFA portion. I have the state trust documents I can use, and I can put in some information (what happens about someone who becomes a prohibited person), but don't know what else I need to make the trust legal for the ATF and coverage so I am not looking at ten years in prison.

    Thanks.
     
  2. Glockdude1

    Glockdude1 Federal Member CLM

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  3. TunaFisherman

    TunaFisherman Halibut Hunter

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    I filed a non profit trust. All you need is the certified certificate from the State. Show the certificate to your dealer, he will make a photo copy for your ATF forms. Hand over the $200 for the stamp. You will add the trust name to the ATF forms and your done.

    I will list all the items and the serial numbers and send to state so they are listed as property of the trust ( I dont believe this is required but I want to make sure the list is with the trust papers)
     
    Last edited: Mar 13, 2012
  4. Mr. Blandings

    Mr. Blandings

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  5. WoodenPlank

    WoodenPlank Who?

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    Call a lawyer that knows the ins and outs of it. Having an improper trust can and will come back to bite you in the ass down the road.
     
    Last edited: Mar 14, 2012
  6. Mr. Blandings

    Mr. Blandings

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    That's why I posted the link to the "NFA Gun Trust Lawyer". It's taken me years of study to learn a thing or two about gun law as a layman. I know NOTHING about trusts. I DO know that once you start buying NFA items it would be pretty easy to sink a LOT of money into a valuable collection. I also know (from reading the NFA Gun Trust Lawyer's blog) that if your trust isn't right you risk the legitimacy of any transfers into that trust (read as, "your stuff is suddenly illegal!").

    If I had the money to start playing with Class III, then I would spend some of that money up front with a knowledgeable attorney to make sure the trust was set-up correctly.
     
  7. D3S3RT_P3NGU1N

    D3S3RT_P3NGU1N

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    Get one drawn up by a good lawyer. It really shouldn't cost you much and a well drawn up trust will protect you from a huge variety of possible scenarios and also means that you don't need to worry about the problems having an improper trust can cause.
     
  8. Kcolg

    Kcolg Millennium Member

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    I'm looking into the same as you. It seems like the better water to go, especially if you want to be able to pass them on to family in the event you die without causing them more pain.If anyone's done a trust in Missouri and wants to PM the details, it'd be much appriciated.
     
  9. WoodenPlank

    WoodenPlank Who?

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    NFA items on a Form 1/4 to an individual are not that big of a problem. They are processed through the estate, and the ATF allows for a "reasonable" amount of time to get paperwork filed for their transfer. Inheritance transfers of NFA items are tax exempt. The ATF has an open letter about it located here.
     
  10. Rodman24

    Rodman24

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    The best thing about using a trust is that you avoid the photo, fingerprint and chief LEO approval steps. Definitely the way to go.
     
  11. WoodenPlank

    WoodenPlank Who?

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    The photo and fingerprinting part isn't a big deal. I spent more time just talking to the two elderly ladies at the local police substation than I did actually getting the fingerprints done. The photos were in and out in 10 minutes, and cost me a whopping $7.99 or so at Walgreens.

    All of the local sheriffs in my area will happily sign pretty much any form put in front of them, so that doesn't bother me, either. Rumor is, though, that the ATF is planning to do away with the CLEO signature requirements, and simply notify the local CLEO when you submit a Form 1 or 4, same as they do for FFL applications. Griffin Armament has been working with a senator from their home state to make it happen.
     
  12. 20SFLV

    20SFLV

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    Some sheriffs (or their representatives) don't want to sign the forms so they don't. If you don't know enough to get a trust or corp, then you are out of luck. Plus it can add several weeks to get one that will sign off.

    Fingerprints and photos aren't hard at all, but they do cost money though not a lot.

    Gun trust is probably the way to go in many cases if you want class 3 devices.

    Anyone transfer their non-class 3 guns into the trust?