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Posted: 2/26/2015 4:52:57 AM EDT
[#1]
Quoted:
Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? No... Your name is on the trust, they know who has what. The reason for a trust is to avoid the CLEO requirement and so that multiple people can possess the items in the trust. |
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Posted: 2/26/2015 5:19:42 AM EDT
[#2]
Quoted:
Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? Yes... too much tin foil hat. |
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Posted: 2/26/2015 5:30:56 AM EDT
[#3]
Quote HistoryQuoted:
No... Your name is on the trust, they know who has what. The reason for a trust is to avoid the CLEO requirement and so that multiple people can possess the items in the trust. Quote HistoryQuoted:
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Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? No... Your name is on the trust, they know who has what. The reason for a trust is to avoid the CLEO requirement and so that multiple people can possess the items in the trust. Well they dont really know who "owns" what on the trust, correct? They will know what is listed on it and who the people are that can legally have it in their possession. |
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Posted: 2/26/2015 6:57:34 AM EDT
[#4]
Quote HistoryQuoted:
Well they dont really know who "owns" what on the trust, correct? They will know what is listed on it and who the people are that can legally have it in their possession. Quote HistoryQuoted:
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Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? No... Your name is on the trust, they know who has what. The reason for a trust is to avoid the CLEO requirement and so that multiple people can possess the items in the trust. Well they dont really know who "owns" what on the trust, correct? They will know what is listed on it and who the people are that can legally have it in their possession. Right, so what difference does it make if the last name is part of the trust name, or your full name is posted as a trustee? How about the people who blur out their trust name like it's a social security number lol |
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Posted: 2/26/2015 2:20:38 PM EDT
[#5]
Quote HistoryQuoted:
Right, so what difference does it make if the last name is part of the trust name, or your full name is posted as a trustee? How about the people who blur out their trust name like it's a social security number lol Quote HistoryQuoted:
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Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? No... Your name is on the trust, they know who has what. The reason for a trust is to avoid the CLEO requirement and so that multiple people can possess the items in the trust. Well they dont really know who "owns" what on the trust, correct? They will know what is listed on it and who the people are that can legally have it in their possession. Right, so what difference does it make if the last name is part of the trust name, or your full name is posted as a trustee? How about the people who blur out their trust name like it's a social security number lol Well they are just taking precautionary steps, lol. Thanks for the responses though guys. Kind of struck me as odd for that many to do it and semi not want big brother to know. |
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Posted: 2/26/2015 2:58:14 PM EDT
[#6]
Quote HistoryQuoted:
Well they dont really know who "owns" what on the trust, correct? They will know what is listed on it and who the people are that can legally have it in their possession. Quote HistoryQuoted:
Quoted:
Quoted:
Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? No... Your name is on the trust, they know who has what. The reason for a trust is to avoid the CLEO requirement and so that multiple people can possess the items in the trust. Well they dont really know who "owns" what on the trust, correct? They will know what is listed on it and who the people are that can legally have it in their possession. No "one person" named in a trust "owns" the property assigned to the trust... all trustees have equal rights to property in the trust as I understand it... perhaps someone can correct me. Like already pointed out... there is a lot more information listed in the trust other than "SMITH" vs. an item with "SMITH TRUST" engraved on it. My trust is simply my last name followed by the word TRUST... "C**** TRUST" it's short. sweet, and looks good on the item when engraved. |
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Posted: 2/26/2015 3:14:39 PM EDT
[#7]
Quote HistoryQuoted:
No "one person" named in a trust "owns" the property assigned to the trust... all trustees have equal rights to property in the trust as I understand it... perhaps someone can correct me. Like already pointed out... there is a lot more information listed in the trust other than "SMITH" vs. an item with "SMITH TRUST" engraved on it. My trust is simply my last name followed by the word TRUST... "C**** TRUST" it's short. sweet, and looks good on the item when engraved. Quote HistoryQuoted:
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Quoted:
Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? No... Your name is on the trust, they know who has what. The reason for a trust is to avoid the CLEO requirement and so that multiple people can possess the items in the trust. Well they dont really know who "owns" what on the trust, correct? They will know what is listed on it and who the people are that can legally have it in their possession. No "one person" named in a trust "owns" the property assigned to the trust... all trustees have equal rights to property in the trust as I understand it... perhaps someone can correct me. Like already pointed out... there is a lot more information listed in the trust other than "SMITH" vs. an item with "SMITH TRUST" engraved on it. My trust is simply my last name followed by the word TRUST... "C**** TRUST" it's short. sweet, and looks good on the item when engraved. You are correct. All trustees have the same ability in regards to trust property, such as selling property, buying new, etc. The grantor, who is also a trustee, has the unique ability to change or terminate the trust. The trust owns itself. It is a legal entity with the ability to own property. When you buy a suppressor on a trust, you don't own that suppressor, the trust does. This is why you need to keep a copy of the trust with the Form 4 when you're in possession of the item. |
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Posted: 2/26/2015 4:18:30 PM EDT
[#8]
Great replies from all of you. Just trying to get all my P's and Q's lined out before I get my trust set up.
Hypotheical question, say you have a sister who marries and changes her last name but you list her on the trust. If she came in contact with a LEO and her last name didnt match this would be the same as the trust being named "In God We Trust". Would you just need your paper work on you showing you are apart of the trust? |
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Posted: 2/26/2015 4:33:27 PM EDT
[#9]
Quote HistoryQuoted:
Great replies from all of you. Just trying to get all my P's and Q's lined out before I get my trust set up. Hypotheical question, say you have a sister who marries and changes her last name but you list her on the trust. If she came in contact with a LEO and her last name didnt match this would be the same as the trust being named "In God We Trust". Would you just need your paper work on you showing you are apart of the trust? amend the trust to update her name after she has legally had it changed |
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Posted: 2/26/2015 9:26:18 PM EDT
[#10]
Quote HistoryQuoted:
amend the trust to update her name after she has legally had it changed Quote HistoryQuoted:
Quoted:
Great replies from all of you. Just trying to get all my P's and Q's lined out before I get my trust set up. Hypotheical question, say you have a sister who marries and changes her last name but you list her on the trust. If she came in contact with a LEO and her last name didnt match this would be the same as the trust being named "In God We Trust". Would you just need your paper work on you showing you are apart of the trust? amend the trust to update her name after she has legally had it changed I got that part but her last name would then be different than the trust. So theoretically speaking for her it wouldn't be any different than a trust that wasn't "Last name Trust". Would still have to carry the paper work with whatever you had with you at the time. Right? |
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Posted: 2/26/2015 9:44:58 PM EDT
[#11]
Name it whatever you want. Its just become standard
There's people who get creative like, IN GOD WE TRUST or NFA TRUST |
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Posted: 2/26/2015 9:48:03 PM EDT
[#12]
Quoted:
Shame the dumb question but why would the vast majority of people use "last name trust" when they set up a trust? I understand for the easy recognizablility if stopped by a LEO. But isn't a reason for a trust so the government doesn't know exactly who owns the item or am I using too much tin foil for my hat? For 99% of the folks that use a trust, it is to avoid CLEO issues and allow multiple possessors. |
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Posted: 2/27/2015 12:12:30 PM EDT
[#13]
Quote HistoryQuoted:
Name it whatever you want. Its just become standard There's people who get creative like, IN GOD WE TRUST or NFA TRUST Exactly, mine is In Doc We Trust. 
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Posted: 2/27/2015 7:34:47 PM EDT
[#14]
I use a trust to avoid the CLEO sign off and to be able to use online storms, not a avoid the gov or hide that I own guns. Also my dad and brother are on be trust so it makes sense that I use the last name that we all have. Like others said when you create a trut you use your name on on documents, it's no secret who name is on the trust.
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Posted: 2/28/2015 1:16:28 AM EDT
[#15]
Just trying to judge how much of a pain it will be if the trust is "In God We Trust" for example verus "Last Name Trust".
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Posted: 2/28/2015 5:32:23 PM EDT
[#16]
Quote HistoryQuoted:
Just trying to judge how much of a pain it will be if the trust is "In God We Trust" for example verus "Last Name Trust". Your name goes in the signature block of whatever form you file. So if you keep a copy with the item, your ID matches the name on the form. That's why I went the route I did. It looks cooler, sounds cooler, and frankly I like to buck the system a little whenever I can. 
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Posted: 3/1/2015 1:06:00 AM EDT
[#17]
Quote HistoryQuoted:
Your name goes in the signature block of whatever form you file. So if you keep a copy with the item, your ID matches the name on the form. That's why I went the route I did. It looks cooler, sounds cooler, and frankly I like to buck the system a little whenever I can. Quote HistoryQuoted:
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Just trying to judge how much of a pain it will be if the trust is "In God We Trust" for example verus "Last Name Trust". Your name goes in the signature block of whatever form you file. So if you keep a copy with the item, your ID matches the name on the form. That's why I went the route I did. It looks cooler, sounds cooler, and frankly I like to buck the system a little whenever I can. See I'm in the boat I'd like to make it something different than Last name trust just wasn't sure if it would be worth or too much of a hassle. |
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