Suppressors Make a trust a head of time?

[jakermeister]

Was just wondering if we can make a trust months before actually buying a suppressor? I'm looking at buying a suppressor in spring/summer but I'm still looking at different cans and wondering if I can just get the trust done now? I'm not sure if my local sheriff is willing to sign but the trust seems the best way. My wife can use it and if I unexpectedly die it wont be a problem. Sorry for the dumb question but I haven't seen when people are establishing their trust.

Thanks,
Jake

 

[Stalking_Rhino]

Re: Make a trust a head of time?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jakermeister</div><div class="ubbcode-body">Was just wondering if we can make a trust months before actually buying a suppressor? I'm looking at buying a suppressor in spring/summer but I'm still looking at different cans and wondering if I can just get the trust done now? I'm not sure if my local sheriff is willing to sign but the trust seems the best way. My wife can use it and if I unexpectedly die it wont be a problem. Sorry for the dumb question but I haven't seen when people are establishing their trust.

Thanks,
Jake </div></div>

If you die unexpectedly it won't be a problem if you have a suppressor as an individual or a trust. So that shouldn't be a concern.

You can make a trust anytime you want. There are no requirements for that.

 

[jakermeister]

Re: Make a trust a head of time?

thanks for the quick answer

I'm planning on getting a can for my Beretta down the road as well and the trust seems the best route.

 

[Eben]

Re: Make a trust a head of time?

One benefit would be that you would be paying for the suppressor with trust funds.
How beneficial this benefit is is debatable, as I just included a letter with my form 4 application noting that I paid for the suppressor with personal funds.

 

[Altnews]

Re: Make a trust a head of time?

Actually, it's IMPERATIVE that you form the trust BEFORE you submit the Form 4.

I made that mistake, but caught it before I sent off the paperwork.

Here's how I did it:

Went to the SOT dealer and decided to buy two cans. They "created" the trust paperwork for me and put all the proper info in the proper places. It's a print-out trust from an NFA lawyer, so they aren't practicing law without a license, they are merely printing out the paperwork.

Then I paid for the suppressors with my credit card.

Then I took the paperwork home, intending to ship off the Form 4's after having the trust paperwork witnessed and signed, which I did at my bank THE NEXT DAY.

But, just before I mailed the paperwork, I realized that the date on the Form 4 was the day BEFORE I "activated" the trust by having it witnessed and notarized and obtained the bank account for the trust.

I had not taken the time initially to read the memorandum from the lawyer which specifically says NOT to pay for your suppressors with your own credit card if you can help it.

So, technically, what I had done was to buy the suppressors with my own money BEFORE the trust actually existed, and I would have submitted Form 4's with dates BEFORE the trust existed. This could have serious implications with the BATFE, and at the very least would be a cause to reject the application, if not worse.

Now the advisory memorandum says it's not a fatal error to pay for the suppressors with your own credit card, but you then have to send in a letter with your Form 4 stating that you donated X amount of dollars to the trust by purchasing the suppressors. It's a work-around that's best avoided.

What I did, after realizing my error, was simply to go back to the dealer, have him void the credit card transaction from two days before, and I wrote him a check using the new trust checking account, into which I deposited the funds to pay for the taxes and the suppressors. Then I had him redo the Form 4s with the date modified to the day AFTER I created (notarized) the trust.

Put it all together and sent it off Friday.

To recap: If you want to use a trust for NFA items, create the trust FIRST, and get it witnessed and notarized, and get the bank account set up BEFORE you go to the dealer. Take the trust checkbook and pay for the items with that, and transfer money into that account to cover the check.

It's my understanding that MANY people wrongfully believe that it's okay to pay for the suppressors with personal funds before the trust is "technically" set up, but as you can see, if the Form 4 is dated before the trust is notarized, you create a real problem for yourself.

 

[jakermeister]

Re: Make a trust a head of time?

Got everything laid out and I'm getting the trust this week then getting the suppressor a few days after the trust is established Finally got our tax return