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Posted: 6/22/2011 4:36:45 PM EDT
With the proposed changes to the law in August requiring a MO resident to have an FFL for NFA ownership, does this mean Missourians can then go the Trust route instead of LLC for NFA ownership?
Link Posted: 6/22/2011 4:42:46 PM EDT
Yep!!  
Link Posted: 6/22/2011 5:27:19 PM EDT
what is the trust route?
Link Posted: 6/22/2011 7:17:44 PM EDT
The ATF allows family trusts to own NFA weapons.

Normally a NFA item registered to an individual cannot be out of that person's control.  It has to be secured where no one else has access to it.  So, if you want to let your brother, kids, dad, etc use your suppressor, you have to be present.  Some say you need a seperate safe, but you can just use a lock box in your safe or some other means––they don't say to what level it needs to be secured.

So, on a trust (like a LLC), you can add whomever you want to have access to your NFA toys.  But bear in mind, you are going to be responsible for their actions.

Trusts don't need the CLEO's permission before buying, nor do they need to submit fingerprints.

Everyone in MO that wanted all of these advantages went the LLC route until now.  But the LLC could pose potential problems with business licenses, neighborhood regs, renewal fees, taxes, but mainly, insurance.  Best part is, you can tear up the trust and the NFA guns are still yours.  Wrap up a LLC and it's $200 a piece to transfer them to you as an individual, a trust, or a new LLC.  



Link Posted: 6/22/2011 9:06:11 PM EDT
awesome. thanks for the info. as a future resident, i like this
Link Posted: 6/23/2011 12:16:00 PM EDT
Stupid question here, is a NFA trust the same as a Estate trust that one would set up to take care of minors and my valuble ant farm collection if the wife and I would suddenly die?
Link Posted: 6/23/2011 2:48:01 PM EDT
Originally Posted By Thunder69Storm:
Stupid question here, is a NFA trust the same as a Estate trust that one would set up to take care of minors and my valuble ant farm collection if the wife and I would suddenly die?


They should be seperate.......You do not want to bring any liability onto you other trust.

Also, you cannot leave your NFA toys to minors.  Nor can you have someone in the trust or a bene of the trust that is a prohibited person.  You should have a trust specifically written for NFA stuff to prevent this from happening.  Probate is bad enough with the state.........imagine it with the ATF.
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