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Posted: 3/9/2010 10:04:30 AM EDT
I believe I can get a CLEO signature where I live, and not paying for a trust is attractive.  However I like the idea of being able to name trustees (like my wife, who might open the safe to get another non-NFA weapon while I am not home) who can posses the NFA weapon.  Also, my wife and I will set up a trust at some point in our lives anyway.  The lawyer who drafts NFA trusts here says that the transfer from a trust to a beneficiary is guaranteed, however I read in the FAQ that this might not be the case.  What do y'all think?
Link Posted: 3/9/2010 10:46:10 AM EDT
Originally Posted By DJTeancum:
I believe I can get a CLEO signature where I live, and not paying for a trust is attractive.  However I like the idea of being able to name trustees (like my wife, who might open the safe to get another non-NFA weapon while I am not home) who can posses the NFA weapon.  Also, my wife and I will set up a trust at some point in our lives anyway.  The lawyer who drafts NFA trusts here says that the transfer from a trust to a beneficiary is guaranteed, however I read in the FAQ that this might not be the case.  What do y'all think?


I regret not having formed a trust for my first NFA purchase ( for reasons similar to those you've given), even though I live in a jurisdiction with a NFA friendly CLEO.   NAS ( NFA Acquisition Syndrome ) is in many ways even more insidious than BRD and your first will not be your last.  Whose your lawyer if you don't mind sharing ( or IM me )?
Link Posted: 3/9/2010 10:57:06 AM EDT
When I got my NFA stuff it was easy to get sign-off, I never even talked to my Sheriff, and there was no one in my life I wanted to share my stuff with.  Now things have changed, I'm engaged and she loves shooting.  I really wish I could put her on a trust and not worry about locking up my stuff.  Stupid laws.  I don't have the money to transfer to a trust either, although I have been thinking about doing a couple.
Link Posted: 3/9/2010 11:56:33 AM EDT
Go with the trust.  It is simple and easy.
Link Posted: 3/9/2010 12:45:59 PM EDT
Originally Posted By bigcbass:
Go with the trust.  It is simple and easy.


+1  I found a trust online and made it into my own.  Has worked for me and a few buddies.  Its not hard at all, plus safer if  you do not live alone.
Link Posted: 3/9/2010 12:59:59 PM EDT
I made the decision to go with a trust (even though I could get a signoff) for a few simple reasons:

1) constructive possession issues with my wife
2) Ensure that the items are always owned and possessed legally by all parties, even if I am incapacitated or dead
3) If I am incapacitated or dead, the last people I want my wife to have to deal with are ATF.  This way, she won't have to  - my attorney will.
Link Posted: 3/9/2010 5:33:02 PM EDT
[Last Edit: 3/9/2010 5:33:54 PM EDT by JAD]
If you can get a sign-off, avoid the trust. There is a lot of potential pitfalls regarding trust validity  that can be avoided entirely if you go in as an individual. A good lawyer can prevent most/ all of them, BUT lawyers are also humans that can make mistakes.
Link Posted: 3/9/2010 5:58:56 PM EDT
Originally Posted By JAD:
If you can get a sign-off, avoid the trust. There is a lot of potential pitfalls regarding trust validity  that can be avoided entirely if you go in as an individual. A good lawyer can prevent most/ all of them, BUT lawyers are also humans that can make mistakes.


+1

And ATF is closely examining the proliferation of trusts used to acquire NFA items in the past few years and will likely implement some changes one of these days (and we have all seen how drastically they can change in recent years - Akins Accelerator, BRP XMG, GSG-5....)
Link Posted: 3/9/2010 8:26:15 PM EDT
Originally Posted By JAD:
If you can get a sign-off, avoid the trust. There is a lot of potential pitfalls regarding trust validity  that can be avoided entirely if you go in as an individual. A good lawyer can prevent most/ all of them, BUT lawyers are also humans that can make mistakes.


For those of us living in states without high yearly fees, there is also the LLC (or corporate) route.
Link Posted: 3/10/2010 6:14:04 AM EDT
Without significant changes in case law, Trusts will remain persons.  ATF does a lot of illegal shit (and gets away with it), but they can't change the definition of "person" under current law when standing in front of a judge, and all they'll end up doing is spinning their wheels and expending our tax money if they try by prosecuting or denying transfers.  Anyone who has been denied a transfer to a valid person (trust included) would have an open and shut lawsuit against ATF, IMHO.  Post Heller, you might even be able to bring a Title 42 S.1983 lawsuit.
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