Gun store Shooting Locations It is currently Sun Jul 23, 2017 12:42 am

Rules Brads Guns RA I5 Guns & Ammo Killer Innovations WAC
WGO Chat Room Rehv Arms LPG Pintos
Gear COUNTYLINE WCA Fortis 2A Ind.
Calendar



Forum rules


Discussion or advice on how to create an Illegal NFA item will result in an immediate ban. No advice given within should replace user due diligence. Always consult a lawyer / professional.



Reply to topic  [ 35 posts ]  Go to page Previous  1, 2, 3
 So you want a TRUST... 
Author Message
Site Supporter
User avatar
Site Supporter

Location: Mountlake Terrace
Joined: Thu Jul 31, 2014
Posts: 3919
Benja455 wrote:
I am absolutely not an expert but this seems correct - alternatively, you could buy it yourself (not as a representative of the trust) and then give it to the trust as the Grantor - but as we discussed in the other thread, that approach isn't as clearly legal in the post-594 world than simply buying in the name of the trust originally. With that said, who knows if your average gunshop has much experience with trusts buying stuff...they might give you grief about it.


For reference, Benja455 is referring to this thread: http://waguns.org/viewtopic.php?f=114&t=48389 - "How Does 594 Affect Trusts?"

As I noted in my dissertation above, I was informed by Keith @ NW Gun Law Group that non-NFA firearm transfers to the trust that take place post-594 have to be run through your FFL. I have not independently verified this assertion, nor did I have time to verify it before 594 went into effect, because I heard that from Keith with just 5 days to go until D-Day. However, I was not about to take the chance that he was wrong and wait to transfer my non-NFA items to my trust, because if he was right, my failure to act before 594 would cost me in more ways than one after 594. In other words, I may have swallowed the marketing bait, but I'd also like to think that I played it safe.


Fri Dec 12, 2014 11:15 am
Profile
Site Moderator
User avatar
Site Moderator

Location: Ballard
Joined: Wed Mar 16, 2011
Posts: 5972
Real Name: Ben (obviously)
Guns4Liberty wrote:
In other words, I may have swallowed the marketing bait, but I'd also like to think that I played it safe.


Absolutely nothing wrong with that. thumbsup The whole reason we have trusts made by an attorney rather than Quicken WillMaker (I've seen some of those and they are SCARY) is an attempt to play it safe.

At the end of the day, we all can certainly agree that 594 has made a huge mess. :frust:

_________________
"Those who 'abjure' violence can only do so because others are committing violence on their behalf." - George Orwell (1945)

Looking for an inexpensive/easy place to transfer your gun legally? Check out this list of FFLs!


Fri Dec 12, 2014 11:21 am
Profile WWW
User avatar

Location: Marysville
Joined: Thu Feb 6, 2014
Posts: 21
Real Name: Jules
Guns4Liberty,

I am considering a trust with NW Gun Law Group did they say anything about having the trust natarized every time you add a new NFA item. As in after you get approval, or do you have to go back to them to add the serial number?

Thank you
Jules


Tue Feb 16, 2016 10:52 am
Profile
Site Supporter
User avatar
Site Supporter

Location: Mountlake Terrace
Joined: Thu Jul 31, 2014
Posts: 3919
sandersballistics wrote:
Guns4Liberty,

I am considering a trust with NW Gun Law Group did they say anything about having the trust natarized every time you add a new NFA item. As in after you get approval, or do you have to go back to them to add the serial number?

Thank you
Jules

Notarization is just for the trust agreement, not the trust assets (listed in Schedule A). So to answer your question, no, you do not need to re-notarize your trust every time you acquire a new asset...only when you make changes to the trust agreement.

Each time I buy a NFA asset from a dealer (Form 4), I list the make, model, and serial # on Schedule A (because the item has been paid for by the trust, and is therefore an asset), but I leave the Approval Date blank because the tax stamp hasn't been issued yet. I send in the trust, Schedule A, and Form 4 for approval. Upon approval (issuance of the tax stamp), I update Schedule A with the approval date, file the approved Form 4 w/ tax stamp with my trust documents, put a copy of the approved Form 4 w/ tax stamp in my range bag, and I'm done.

Each time I make a NFA asset myself (Form 1), I do not list it on the Schedule A until after I receive approval. That's because the NFA item doesn't technically exist until I make it, which doesn't happen until I have approval first. Upon approval, I list the make, model, serial #, and approval date on Schedule A; I go and make the item; and then I repeat the steps listed above for filing & copying the approved Form 4 w/ tax stamp.

That's all there is to it.


Tue Feb 16, 2016 11:36 am
Profile
User avatar

Location: Marysville
Joined: Thu Feb 6, 2014
Posts: 21
Real Name: Jules
Thank you for the quick and detailed response that is exactly what I was looking for.


Tue Feb 16, 2016 12:49 pm
Profile
Display posts from previous:  Sort by  
Reply to topic   [ 35 posts ]  Go to page Previous  1, 2, 3

Who is online

Users browsing this forum: No registered users and 7 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum



Rent Me Pintos NRA SAF CCKRBA
Aldersons UPAMMO


Powered by phpBB® Forum Software © phpBB Group
Designed by ST Software for PTF.
[ Time : 1.103s | 16 Queries | GZIP : On ]