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Posted: 7/24/2017 7:20:30 PM EDT
I have two SBRs and a can registered as an individual. Truth be told, if I could do it again I would have developed a trust. I will be applying for two additional stamps in the near future and wondering if it makes any difference whether I create a trust for these two new items? any advantages or disadvantages to having some items on a trust and some not?

Thanks for the help
Link Posted: 7/25/2017 10:16:16 AM EDT
[#1]
Disadvantages to having some individual and some in a trust?  No, except that the individual ones are not in the trust.  

Absolutely zero reason not to use a trust for the new ones, well other than the attorney drafting the trust.  I was in the same boat as you, and bet that 85% of everyone with a NFA trust was too at some point.  I've considered transferring one suppressor I own individually to the trust, but haven't talked myself into it.  Yet.
Link Posted: 7/25/2017 11:47:36 AM EDT
[#2]
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Quoted:
Disadvantages to having some individual and some in a trust?  No, except that the individual ones are not in the trust.  

Absolutely zero reason not to use a trust for the new ones, well other than the attorney drafting the trust.  I was in the same boat as you, and bet that 85% of everyone with a NFA trust was too at some point.  I've considered transferring one suppressor I own individually to the trust, but haven't talked myself into it.  Yet.
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It's funny that you say that, because post 41f, the only reason a trust is useful anymore is if you want to share your nfa stuff with someone else when you aren't around.

No more cleo means individual is much easier.  Prints for both, pictures for both, but no additional paperwork or fees like with a trust.

I've always done individual, and will continue to do so.  I would never be willing to loan out my nfa stuff, so sharing wasn't an issue.  Some people will say that I'm taking the risk of sending my wife to jail if I forget to lock my safe one day and the ATF randomly knocks down my door when I'm at work, but both of us are ok with that.


Why do you want a trust OP?  If you don't plan on loaning your stuff, you probably don't need one.
Link Posted: 7/25/2017 12:44:29 PM EDT
[#3]
A trust has some other advantages that's why they are also used for things outside of NFA items. I like the idea of Silencer shop single shot trust, all my NFA is on the same trust.
Link Posted: 7/25/2017 12:46:48 PM EDT
[#4]
Agree, no reason for a trust other than for sharing.  And all who you desire to share with have to do prints and photos.  Inheritance is a don't care since a will can take care of that.  I have items both ways and did a trust pre 41F just cause I wanted to see if my $50 universal trust from a boiler plate grind them out attorney in Houston would work, it did, no issues.  Had it like overnight, trip to bank for notary and done.
Link Posted: 7/25/2017 1:01:23 PM EDT
[#5]
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Quoted:
A trust has some other advantages that's why they are also used for things outside of NFA items. I like the idea of Silencer shop single shot trust, all my NFA is on the same trust.
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Like what?  I'm genuinely asking.

Lots of people bring up estate planning, but transfers on a form 5 to the beneficiaries named in your will are tax free, so I don't see much advantage there.

If there's something I'm missing, I really would like to know.  I'm far from done buying suppressors and machine guns, so if someone shows me a compelling reason to go the trust route I can still get one and use it for future purchases
Link Posted: 7/25/2017 4:58:17 PM EDT
[#6]
Everything before 41f I filed in a trust, everything after has been done as an individual. It's pretty easy, if you plan on sharing or leaving your stuff with someone you get a trust, if you dont then dont.
Link Posted: 7/25/2017 6:08:47 PM EDT
[#7]
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Quoted:


Like what?  I'm genuinely asking.

Lots of people bring up estate planning, but transfers on a form 5 to the beneficiaries named in your will are tax free, so I don't see much advantage there.

If there's something I'm missing, I really would like to know.  I'm far from done buying suppressors and machine guns, so if someone shows me a compelling reason to go the trust route I can still get one and use it for future purchases
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I'm no expert so don't be mad if I'm wrong but a few would be,
A BS domestic violence charge or some other trivial offense that might not even exist now. Or your a veteran that asked for help with finances, so your incompetent. I don't know the exact law in these cases. I guess without a trust someone could get new stamps and buy the NFA items but with a trust just take you off it.
In the case of more common property/ finances, medicare /  medicaid only pays when assets are gone. Trust can protect that. My grandparents went in a nursing home and lost a farm. I know, personal responsibility, just answering your question. People can go to nursing homes for rehab, not to die.
You would be better asking an a attorney if your spending the bucks to buy machine guns. My SBR and suppressors combined are probably not worth one of those.
There may not be a compelling case to use a trust, but it's not like it's that much harder to cover your ars.
Link Posted: 7/25/2017 6:24:38 PM EDT
[#8]
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Quoted:
A trust has some other advantages that's why they are also used for things outside of NFA items. I like the idea of Silencer shop single shot trust, all my NFA is on the same trust.
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Mind sharing this boilerplate?
Link Posted: 7/25/2017 6:55:39 PM EDT
[#9]
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Quoted:


Mind sharing this boilerplate?
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In short, same reason as using a trust for other things. If you see no value in that, then don't.
Link Posted: 7/25/2017 7:19:09 PM EDT
[#10]
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Quoted:


In short, same reason as using a trust for other things. If you see no value in that, then don't.
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A used suppressor holds very little value, and an SBR holds no additional value when the upper and lower are taken apart.

Machine guns you can add to your will (which most people probably have a well written will already in place)
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