Suppressors trust after the fact

[rjdriver]

Do any of you have an idea if you can register a trust and roll previously individually licensed cans into it, I have several cans licensed to me and was wondering what would have to be done to put them in a trust any advice would be appreciated.
Best
Rob

 

[Graham]

Re: trust after the fact

This has been posted many times before.

New form 4s and a $200 tax stamp for each transfer.

 

[gixxerk8]

Re: trust after the fact

Pretty sure you have to submit $200 for new stamp to switch ownership to trust

 

[wfjames22]

Re: trust after the fact

Form 4 with $200 tax for each one rolled into the trust. It's a transfer of ownership.

 

[rjdriver]

Re: trust after the fact

Thanks for the reply's as they say in cards I guess I will hold, too costly right now to roll into a trust......
Rob

 

[clmayfield]

Re: trust after the fact

Most of the benefit is in the original transfer (no fingerprinting or local LEO sign-off)... why roll it now? For your kids?

 

[Stalking_Rhino]

Re: trust after the fact

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Carter Mayfield</div><div class="ubbcode-body">Most of the benefit is in the original transfer (no fingerprinting or local LEO sign-off)... why roll it now? For your kids? </div></div>

May not be the reasoning in this case but some people think that if their NFA items are in a Trust that they will be immune from the .gov confiscating or further regulating them.

 

[trigger29]

Re: trust after the fact

Maybe so someone else may be in possesion of the suppressor without your presence? As I understand it, nobody else can be in possesion of your can without you there? If it's in a trust, and they are a trustee, they can be in possesion of the can without you there. Is this correct? It seems I should have put mine in a trust as well.

 

[Stalking_Rhino]

Re: trust after the fact

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Trigger29</div><div class="ubbcode-body">Maybe so someone else may be in possesion of the suppressor without your presence? As I understand it, nobody else can be in possesion of your can without you there? If it's in a trust, and they are a trustee, they can be in possesion of the can without you there. Is this correct? It seems I should have put mine in a trust as well. </div></div>

Yes, as of right now that is correct.

 

[rjdriver]

Re: trust after the fact

Yes, Because of the, How you say sharing rights of the trustees,.... they can use it without me being present, and also in the event anything happens to me they stay with the trust ... when I got some of my first cans this trust thing wasn't really well known but anymore it seems like a good way to go .....

 

[Jared06]

Re: trust after the fact

I suppose if you were to set up a trust for further purchases, then when you pass the individually owned items could transfer free to the trust at that time. I believe there is a time line to make the free tranfer from your estate therefore setting up a trust at that time may take too long?

 

[Stalking_Rhino]

Re: trust after the fact

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Jared06</div><div class="ubbcode-body">I suppose if you were to set up a trust for further purchases, then when you pass the individually owned items could transfer free to the trust at that time. I believe there is a time line to make the free tranfer from your estate therefore setting up a trust at that time may take too long? </div></div>

Form5(tax free transfer upon death) goes to a person, they can't transfer into an entity.

Been tried before and denied by the ATF.

 

[rjdriver]

Re: trust after the fact

So what you are saying is I could upon my demise do a tax free transfer (form 5) to one of my heirs?
Rob

 

[Stalking_Rhino]

Re: trust after the fact

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: rjdriver</div><div class="ubbcode-body">So what you are saying is I could upon my demise do a tax free transfer (form 5) to one of my heirs?
Rob </div></div>

Yes upon your demise each NFA item is authorized a single tax free transfer via Form5 to an individual, all transfers after that are responsible for the $200 transfer tax.

 

[rjdriver]

Re: trust after the fact

Cool,
then I really don't need a Trust ..... I can just will them to my son's and when I croak, depending on what the federal law is at the time, they at least have a chance to get them...... Thanks for all your input everyone.
Best
Rob

 

[Stalking_Rhino]

Re: trust after the fact

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: rjdriver</div><div class="ubbcode-body">Cool,
then I really don't need a Trust ..... I can just will them to my son's and when I croak, depending on what the federal law is at the time, they at least have a chance to get them...... Thanks for all your input everyone.
Best
Rob </div></div>

If you can get a CLEO signoff then I don't see the point of a trust unless you are giving your guns to family to shoot when you are not present.

 

[rjdriver]

Re: trust after the fact

That is the only down fall I can see, I have Never had a problem getting a CLEO sign off by either the sheriff or the Chief of police...... we are a small enough town that I know them both personally and they do buy guns of various types from me.
Rob

 

[rainman74]

Re: trust after the fact

I was wandering the same thing. Thanks.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: StalkingRhino</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: rjdriver</div><div class="ubbcode-body">So what you are saying is I could upon my demise do a tax free transfer (form 5) to one of my heirs?
Rob </div></div>

Yes upon your demise each NFA item is authorized a single tax free transfer via Form5 to an individual, all transfers after that are responsible for the $200 transfer tax. </div></div>