Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
User Panel

Site Notices
Posted: 3/24/2017 3:07:08 PM EDT
I think I have a general idea of how this theoretical situation would play out, but for future info I'm looking for some clarification on the following.

With a Gun Trust set up, let's say there is an NFA item on the Trust. For ease of discussion we'll say there is one trustee and this person lives in a different state than the Grantor. Can the trustee be in "permanent" possession of the nfa item under the trust?

My research on the topic is leaning towards no, the item must reside in the state of the Grantor.



Just trying to get a better idea of some of the formalities.

Thanks
Link Posted: 3/24/2017 7:30:04 PM EDT
[#1]
Generally yes, that is why he is called the trustee, he is entrusted to take care of items in the trust.
Link Posted: 3/27/2017 9:22:13 AM EDT
[#2]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Generally yes, that is why he is called the trustee, he is entrusted to take care of items in the trust.
View Quote
If I'm not mistaken would the Grantor be the one who is responsible for the items? Since he/she is the one who created the trust.
In a non NFA situation I think this would be pretty cut and dry, but for NFA items I believe it's a little more complicated since the ATF hates freedom
Link Posted: 4/3/2017 9:17:06 AM EDT
[#3]
bueller?
Link Posted: 4/11/2017 3:05:32 PM EDT
[#4]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


If I'm not mistaken would the Grantor be the one who is responsible for the items? Since he/she is the one who created the trust.
In a non NFA situation I think this would be pretty cut and dry, but for NFA items I believe it's a little more complicated since the ATF hates freedom
View Quote
The grantor is the one that creates the trust. He moves items into the "control" of the trust and grants trustees authority to control the trust as they see fit IAW the langauge of the trust.

Trustees, given the power by the grantor, have just as much right to possess/control the items owned/contained within the trust.
Close Join Our Mail List to Stay Up To Date! Win a FREE Membership!

Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!

You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.


By signing up you agree to our User Agreement. *Must have a registered ARFCOM account to win.
Top Top