Individual vs trust question

[AtlMedic]

now that the e forms are working and seem to be going fairly quick on individuals it’s got me thinking of doing a SBR or SBS.

My question is, if I file as an individual, is it possible to change to a trust in the future? Right now it’s just me that would ever have the guns but when my sons get older I may want them to be able to use them, but that’s like 10 or more years away.

 

[the_great_white]

Go ahead and do the trust....if you want them to have them what would they do if God forbid something happened to you?

 

[AtlMedic]

Go ahead and do the trust....if you want them to have them what would they do if God forbid something happened to you?

Put them in the coffin with me.

 

[Laufen]

Put them in the coffin with me.

I'm getting buried with a gun and a plenty of ammo, it's my only request. I'm not going anywhere unarmed, lol.

 

[AtlMedic]

I'm getting buried with a gun and a plenty of ammo, it's my only request. I'm not going anywhere unarmed, lol.

I’ve told my wife I want to be buried with guns and a shit ton of ammo. I told her to cremate me but still bury me in a coffin with a closed casket funeral. That way if shit goes south after I’m dead my sons or their kids can dig me up and be well armed. Kinda like in terminator.

 

[Laufen]

I’ve told my wife I want to be buried with guns and a shit ton of ammo. I told her to cremate me but still bury me in a coffin with a closed casket funeral. That way if shit goes south after I’m dead my sons or their kids can dig me up and be well armed. Kinda like in terminator.

LOL, love it!

 

[AtlMedic]

LOL, love it!

I figure a few rifles, few pistols, a few thousand rounds of ammo for each. Some medical stuff, MREs, etc.... would fit nicely.

 

[Red Dawn]

So you want to own a SBR or SBS or Suppressors and you are not sure to use an individual or trust then

Consider this:

• Your so or daughter drives away with your range bag in the trunk.
• Your wife has the combination to your gun safe.
• Your HD gun is suppressed and is used while you’re out of town
• You share a suppressor at hunt camp but you’re not in the stand
• Your father safeguards your NFA firearms while you’re —
  • Hospitalized
  • Vacationing
  • Deployed
  • Traveling for business
  • Temporarily assigned to another state
  • Repairing your home from storm damage, or
  • Moving into a new home.

Could you find yourself in the above situations?

That is considered constructive possession of an NFA item. That could open the door for charges because the individual could in fact claim the item or be in control of the item. To avoid this I recommend a trust. You have a settlor (the person creating the trust) trustees (the people added to the trust to administer trust) and beneficiaries (those who get the items at some point who also can be trustees). I feel this is the easiest safest and cost effective way to ensure the items will be safe in the possession of those intended to have them and everyone is legal.

 

[AtlMedic]

So you want to own a SBR or SBS or Suppressors and you are not sure to use an individual or trust then

Consider this:

• Your so or daughter drives away with your range bag in the trunk.
• Your wife has the combination to your gun safe.
• Your HD gun is suppressed and is used while you’re out of town
• You share a suppressor at hunt camp but you’re not in the stand
• Your father safeguards your NFA firearms while you’re —
  • Hospitalized
  • Vacationing
  • Deployed
  • Traveling for business
  • Temporarily assigned to another state
  • Repairing your home from storm damage, or
  • Moving into a new home.

Could you find yourself in the above situations?

That is considered constructive possession of an NFA item. That could open the door for charges because the individual could in fact claim the item or be in control of the item. To avoid this I recommend a trust. You have a settlor (the person creating the trust) trustees (the people added to the trust to administer trust) and beneficiaries (those who get the items at some point who also can be trustees). I feel this is the easiest safest and cost effective way to ensure the items will be safe in the possession of those intended to have them and everyone is legal.

Thanks for that reply. Makes a lot of sense.

The way I understand it is everyone on the trust would have to submit finger prints and do The Whole process though right?

 

[Red Dawn]

Thanks for that reply. Makes a lot of sense.

The way I understand it is everyone on the trust would have to submit finger prints and do The Whole process though right?

No not with Deans trust if already established he has an Amendment to add that only requires settlor to fill out pics prints on but yes I would tho

 

[Laufen]

No not with Deans trust if already established he has an Amendment to add that only requires settlor to fill out pics prints on but yes I would tho

Good to know. What's been holding me back is having to get everyone to submit prints, especially given that one trustee is out of the country most of the time. Might need to add the amendment.

 

[Red Dawn]

Good to know. What's been holding me back is having to get everyone to submit prints, especially given that one trustee is out of the country most of the time. Might need to add the amendment.

That or make prints and copy them ahead of time to have on file when you get that urge to splurge. The 41F Amendment is on NFAlawyers home page just click print

 

[lesptr]

I’ve told my wife I want to be buried with guns and a shit ton of ammo. I told her to cremate me but still bury me in a coffin with a closed casket funeral. That way if shit goes south after I’m dead my sons or their kids can dig me up and be well armed. Kinda like in terminator.

I told my wife to put me in a douche and run me through one more time.

 

[SouthernSlammed]

I believe the #1 problem with doing individual and then wanting to add to a trust is...

...the man collects another $200 from you!

 

[SouthernSlammed]

No not with Deans trust if already established he has an Amendment to add that only requires settlor to fill out pics prints on but yes I would tho

Having Dean's trust and this amendment makes it a VERY simple process!

 

[ReservoirDawg10]

Get a trust. If you want to transfer at a later date, guess what? You get to pay another $200 tax stamp per item!

 

[Laufen]

I told my wife to put me in a douche and run me through one more time.

 

[Laufen]

No not with Deans trust if already established he has an Amendment to add that only requires settlor to fill out pics prints on but yes I would tho

As I read it, the trustee (and not any other party on the trust) would be the only person allowed to possess the item in the trust though, right?

 

[Red Dawn]

Ass I read it, the trustee (and not any other party on the trust) would be the only person allowed to possess the item in the trust though, right?

Yes it looks like no different then form 1 individual like that I assume
Prolly better to remove trustees then add after approval with ammendments

 

[Leshaire]

So you want to own a SBR or SBS or Suppressors and you are not sure to use an individual or trust then

Consider this:

• Your so or daughter drives away with your range bag in the trunk.
• Your wife has the combination to your gun safe.
• Your HD gun is suppressed and is used while you’re out of town
• You share a suppressor at hunt camp but you’re not in the stand
• Your father safeguards your NFA firearms while you’re —
  • Hospitalized
  • Vacationing
  • Deployed
  • Traveling for business
  • Temporarily assigned to another state
  • Repairing your home from storm damage, or
  • Moving into a new home.

Could you find yourself in the above situations?

That is considered constructive possession of an NFA item. That could open the door for charges because the individual could in fact claim the item or be in control of the item. To avoid this I recommend a trust. You have a settlor (the person creating the trust) trustees (the people added to the trust to administer trust) and beneficiaries (those who get the items at some point who also can be trustees). I feel this is the easiest safest and cost effective way to ensure the items will be safe in the possession of those intended to have them and everyone is legal.

Genius. Im adding the wife to my trust asap lol