Posted: 1/7/2012 7:28:44 PM EDT
[#13]
Quoted:Quoted:Quoted:Quoted:Quoted:Quoted:Quoted:Quoted: Who has them that wouldn't mind helping me create one. I am pretty ignorant on the matter, but want to start getting a suppressor. Can I create a trust NOW, but wait a few months to do my first form? Yes, there's no timeframe on purchasing anything after you form your trust.Do I need fingerprints/photo for the first one, all of them, none of them? No prints, photos or CLEO for anything at any time.What does having a trust do for when i am filing my income taxes? Does this effect it anyway? No effect on your income taxes at all.The more I read into this, the more I become discoraged. I don't have the $$ to pay hundreds of dollars to an attorney. How do you guys that have them do it? Just go the "prepackaged software" route, and "hope" everything is correct? Is there any lawyers in Indiana that do this sort of work for just a couple hundred or is that wishful thinking. Answered above. No help on a cheap attorney. Trusts are pretty simple. The software route is just fine. You just need to do a LITTLE research online as to what constitutes a legal trust in Indiana. States all have different requirements. There's no need for a "NFA-specific" trust. Some people like that because it contains instructions on the disposition of the assets after the passing of the grantor, but you can write that up on your own on a separate page and keep it with the trust. As long as it meets the legal requirement of a trust in Indiana, you are good to go. Also, make sure the name of your trust is short, as you will have to engrave the whole name on anything you Form 1. (First, middle initial, last name Trust is a good way to go). Make sure "Revokable Living" is taken out of the trust name. Does that apply to suppressors as well, or just for SBR, MG's SBR Form 1 is an "Application to Make and Register a Firearm" Suppressors do have to be engraved but I believe one of the specific FFL's is required to do so. Its not something I partake in, so I couldnt tell you any further about that.. If you buy it off the shelf as most of us do, the can is put under a Form 4 transfer. Im sure the same goes for an MG. If you buy it under a Form 4 with a 16''+ bbl and what to chop it to under 16''. Im thinking the Form 1 would apply, along with the engraving. Once agian, dont own an MG so this is purely speculation. Someone will chime in and see if I gave you good advice. NFA on a Form 1 must be engraved by the manufacturer. The entity (you, a trust, or a corp) that is manufacturing the firearm whether it be a homemade SBR or suppressor (since those are mentioned in this thread) will have to engrave their name, city, and state on the item. MGs will be bought on a Form 4 and temporary and permanent changes are generally allowed (i.e. you can swap uppers on your M16, but you can't change your MAC into an M60). There is no need to buy two tax stamps for a MG with a barrel <16". The MG will be engraved with the manufacturer's name, city, and state. No need to add your name. I forgot this tid bit. You can SBR a MG and not need another stamp? Say if you bought it out of state you would need to pay the 200 for the MG and the 200 for the SBR. Im I figuring that correctly? Interstate NFA needs to go through a dealer in your state of residence (Seller -> Dealer, Form 3 (IIRC) -> Buyer, Form 4) . FTF within your state of residence is allowed on a Form 4. Buying a transferable Colt M16 (with a 20" upper) and temporarily tossing on a short barrel is fine. If a permanent change is going to take place, the BATFE should be notified of the permanent change so they can update the registry. A Class3 will still have to hold onto it until the paperwork came back, right? The seller, whether that is an individual or FFL, holds it.
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