Posted: 3/5/2015 11:17:18 AM EDT
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I asked in the tech forum without a response yet.. I'd like to get this done this weekend maybe, so here it goes.
I purchased and received an online trust from 199trust.com. My question is, the last two pages consist of an assignment page, and a schedule of beneficiaries. Now, the assignment page is basically a list of what I have/will have trusted.... Now, I assume, I would want to put on what I will be having a tax stamp for on this piece of paper, is this correct? I would also assume I could list all firearms I own, to be covered under the trust. My initial thought was because I don't technically have anything I will "trust' until I get my stamp back, was if I should fill it in or not. It has two lines for witnesses at the bottom. Do I need to have this filled out when I get it notarized? The notarized portion is listed before this page, and if I want to add to it, it seems not necessary to get it notarized every time, but kind of makes sense to do so. Should I include it and the beneficiaries page when I send it in via e-file? This may be kind of dumb questions, I just want to make sure I don't have any hiccups. |
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I asked in the tech forum without a response yet.. I'd like to get this done this weekend maybe, so here it goes. I purchased and received an online trust from 199trust.com. My question is, the last two pages consist of an assignment page, and a schedule of beneficiaries. Now, the assignment page is basically a list of what I have/will have trusted.... Now, I assume, I would want to put on what I will be having a tax stamp for on this piece of paper, is this correct? I would also assume I could list all firearms I own, to be covered under the trust. My initial thought was because I don't technically have anything I will "trust' until I get my stamp back, was if I should fill it in or not. It has two lines for witnesses at the bottom. Do I need to have this filled out when I get it notarized? The notarized portion is listed before this page, and if I want to add to it, it seems not necessary to get it notarized every time, but kind of makes sense to do so. Should I include it and the beneficiaries page when I send it in via e-file? This may be kind of dumb questions, I just want to make sure I don't have any hiccups. Do you have a bank account associated with the trust already? Regarding your other question, I wouldnt think you should add anything till you initially get your first item back...and are these items you're talking about adding NFA items or just firearms in general? I'd probably keep all things that arent NFA out of it if it were me... |
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Do you have a bank account associated with the trust already? Regarding your other question, I wouldnt think you should add anything till you initially get your first item back...and are these items you're talking about adding NFA items or just firearms in general? I'd probably keep all things that arent NFA out of it if it were me... Quoted:
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I asked in the tech forum without a response yet.. I'd like to get this done this weekend maybe, so here it goes. I purchased and received an online trust from 199trust.com. My question is, the last two pages consist of an assignment page, and a schedule of beneficiaries. Now, the assignment page is basically a list of what I have/will have trusted.... Now, I assume, I would want to put on what I will be having a tax stamp for on this piece of paper, is this correct? I would also assume I could list all firearms I own, to be covered under the trust. My initial thought was because I don't technically have anything I will "trust' until I get my stamp back, was if I should fill it in or not. It has two lines for witnesses at the bottom. Do I need to have this filled out when I get it notarized? The notarized portion is listed before this page, and if I want to add to it, it seems not necessary to get it notarized every time, but kind of makes sense to do so. Should I include it and the beneficiaries page when I send it in via e-file? This may be kind of dumb questions, I just want to make sure I don't have any hiccups. Do you have a bank account associated with the trust already? Regarding your other question, I wouldnt think you should add anything till you initially get your first item back...and are these items you're talking about adding NFA items or just firearms in general? I'd probably keep all things that arent NFA out of it if it were me... Do I need to have a bank account associated with it? I just got the blank trust, so it isn't associated with anything. It isn't notarized. I wasn't planning on adding anything that isn't an NFA item. |
| I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. |
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. Thank you. Dollar bill it is! Did you have two witnesses or one? I think this is a state by state thing, I will call the bank and see if they can have a witness or two, if not, I will drag someone along. |
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. On mine there were 2 witness pages with a notary section prior to the assignment page. The assignment page just has witness signatures, did you get the assignment page notarized also? I also used a dollar bill to initially fund the trust. |
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Thank you. Dollar bill it is! Did you have two witnesses or one? I think this is a state by state thing, I will call the bank and see if they can have a witness or two, if not, I will drag someone along. Quoted:
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. Thank you. Dollar bill it is! Did you have two witnesses or one? I think this is a state by state thing, I will call the bank and see if they can have a witness or two, if not, I will drag someone along. My state required two witnesses and I had to bring them both before the notary at my bank. It does vary by state from what I've read. |
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. So now you have to keep that dollar bill forever? |
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. What kind of trust it is shouldn't matter to the notary and I would get offended if they questioned it at all. It's none of a notary's business. As already indicated, the witness requirements vary by state, however the assignment of property in itself is not necessary much less needed to be notarized. That said, I do an assignment of property, signed/dated, when I put stuff in my NFA trust and then update the schedule A accordingly. You HAVE to put SOMETHING in the trust for it to be valid to begin with, but you can't technically put an existing NFA item in the trust without an approved ATF transfer, but you can for example put a lower receiver in the trust which you end up SBR'ing. As a funny side-story, I once reviewed a trust for someone's pet. They put something like $1.5 million in it to provide for it until death. 
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I never put anything in my trust prior to sending in my trust with the form 4s. Don't know if that's the proper way, but it worked. "Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. |
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"Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. Quoted:
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I never put anything in my trust prior to sending in my trust with the form 4s. Don't know if that's the proper way, but it worked. "Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? |
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as been said before you need to add something else first to the trust.
some use a one dollar serial, I just threw a different gun on there. I wasn't sure about the lower I was SBRing so I didn't use that one lol. then you add whatever firearm the government allows you to make. one approved and one waiting, thought I would have already gotten It as I did it 2 days after the frist lol. |
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Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? Quoted:
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I never put anything in my trust prior to sending in my trust with the form 4s. Don't know if that's the proper way, but it worked. "Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? looks like you just reprint out the last 2 pages and add what you want then have them resigned. |
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looks like you just reprint out the last 2 pages and add what you want then have them resigned. Quoted:
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I never put anything in my trust prior to sending in my trust with the form 4s. Don't know if that's the proper way, but it worked. "Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? looks like you just reprint out the last 2 pages and add what you want then have them resigned. So I should add a lower receiver to the list before the suppressors? I do plan on SBR'ing one pretty soon so I can add that one? I really want to fix this right. |
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What kind of trust it is shouldn't matter to the notary and I would get offended if they questioned it at all. It's none of a notary's business. As already indicated, the witness requirements vary by state, however the assignment of property in itself is not necessary much less needed to be notarized. That said, I do an assignment of property, signed/dated, when I put stuff in my NFA trust and then update the schedule A accordingly. You HAVE to put SOMETHING in the trust for it to be valid to begin with, but you can't technically put an existing NFA item in the trust without an approved ATF transfer, but you can for example put a lower receiver in the trust which you end up SBR'ing. As a funny side-story, I once reviewed a trust for someone's pet. They put something like $1.5 million in it to provide for it until death. Quoted:
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. What kind of trust it is shouldn't matter to the notary and I would get offended if they questioned it at all. It's none of a notary's business. As already indicated, the witness requirements vary by state, however the assignment of property in itself is not necessary much less needed to be notarized. That said, I do an assignment of property, signed/dated, when I put stuff in my NFA trust and then update the schedule A accordingly. You HAVE to put SOMETHING in the trust for it to be valid to begin with, but you can't technically put an existing NFA item in the trust without an approved ATF transfer, but you can for example put a lower receiver in the trust which you end up SBR'ing. As a funny side-story, I once reviewed a trust for someone's pet. They put something like $1.5 million in it to provide for it until death. Here is what it looks like: 
The witnesses signatures at the bottom aren't really credible as I can update this page at any time? Or I should re-issue (print) this sheet and update it every time I add something? |
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Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? Quoted:
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I never put anything in my trust prior to sending in my trust with the form 4s. Don't know if that's the proper way, but it worked. "Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? I am not a lawyer, nor is this legal advice. If the suppressors are already on approved forms under your trust, I would simply add them to the Schedule A and call it good. The assignments aren't required, so witness to them isn't really necessary. I have a simple assignment form I just sign/date and file with the original trust and print off a new schedule A with the new property. Realistically you're going to be building a nice stockpile of NFA items so it would behoove you, and your heirs, to have your trust reviewed by a competent attorney well-versed in trusts and the NFA to include specific verbiage to account for the nuances of passing along restricted items. |
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Do I need to have a bank account associated with it? I just got the blank trust, so it isn't associated with anything. It isn't notarized. I wasn't planning on adding anything that isn't an NFA item. Quoted:
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I asked in the tech forum without a response yet.. I'd like to get this done this weekend maybe, so here it goes. I purchased and received an online trust from 199trust.com. My question is, the last two pages consist of an assignment page, and a schedule of beneficiaries. Now, the assignment page is basically a list of what I have/will have trusted.... Now, I assume, I would want to put on what I will be having a tax stamp for on this piece of paper, is this correct? I would also assume I could list all firearms I own, to be covered under the trust. My initial thought was because I don't technically have anything I will "trust' until I get my stamp back, was if I should fill it in or not. It has two lines for witnesses at the bottom. Do I need to have this filled out when I get it notarized? The notarized portion is listed before this page, and if I want to add to it, it seems not necessary to get it notarized every time, but kind of makes sense to do so. Should I include it and the beneficiaries page when I send it in via e-file? This may be kind of dumb questions, I just want to make sure I don't have any hiccups. Do you have a bank account associated with the trust already? Regarding your other question, I wouldnt think you should add anything till you initially get your first item back...and are these items you're talking about adding NFA items or just firearms in general? I'd probably keep all things that arent NFA out of it if it were me... Do I need to have a bank account associated with it? I just got the blank trust, so it isn't associated with anything. It isn't notarized. I wasn't planning on adding anything that isn't an NFA item. No bank account. Anyone can pay the $200 when you e-file. The only thing the ATF requires is the trust be 3MB or smaller. Regarding your schedule of assets. NEVER put anything on there till it's approved. It's a topic you will see disagreement on. However until you receive approval the trust does not own the item applied for. You should have a $1, 5 or $10 bill as your 1st item on the schedule (serial number included) Put that bill in with your trust / NFA documents. IF you want to put items other than NFA on the turst. Make a separate Schedule of Assets for them. When you apply after your first approval, I always include the NFA items owned / approved. Is it necessary? (again) various opinions saying Y or N. I include a current Schedule of Assets just in case. It shows the examiner IF there's something small one omitted on their current application, you're not some first timer. HOPEFULLY they give approval w/out you needing to submit a correction. Will they, who knows? Regarding beneficiaries . Those should be in your Trust. I don't know who you used for you trust Or why you're not having that atty answer these questions. Unless you used one of those $99 trust on line places. They're great for saving you $$ but not a place i see being there with you IF an ATF inquiry happened. One of the few issues i have with those places. I paid Less than $300 and could drive across town or call if i needed a question answered. By someone who knows the law instead of hypothetical from on line. |
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I am not a lawyer, nor is this legal advice. If the suppressors are already on approved forms under your trust, I would simply add them to the Schedule A and call it good. The assignments aren't required, so witness to them isn't really necessary. I have a simple assignment form I just sign/date and file with the original trust and print off a new schedule A with the new property. Realistically you're going to be building a nice stockpile of NFA items so it would behoove you, and your heirs, to have your trust reviewed by a competent attorney well-versed in trusts and the NFA to include specific verbiage to account for the nuances of passing along restricted items. Quoted:
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I never put anything in my trust prior to sending in my trust with the form 4s. Don't know if that's the proper way, but it worked. "Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? I am not a lawyer, nor is this legal advice. If the suppressors are already on approved forms under your trust, I would simply add them to the Schedule A and call it good. The assignments aren't required, so witness to them isn't really necessary. I have a simple assignment form I just sign/date and file with the original trust and print off a new schedule A with the new property. Realistically you're going to be building a nice stockpile of NFA items so it would behoove you, and your heirs, to have your trust reviewed by a competent attorney well-versed in trusts and the NFA to include specific verbiage to account for the nuances of passing along restricted items. The post just above yours shows what the sheet of items looks like, I can put a lower at the top of the list easy enough and it will be as if it was there the whole time, I don't think that's against any rules. I just want it all to be valid down the road. |
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I am not a lawyer, nor is this legal advice. If the suppressors are already on approved forms under your trust, I would simply add them to the Schedule A and call it good. The assignments aren't required, so witness to them isn't really necessary. I have a simple assignment form I just sign/date and file with the original trust and print off a new schedule A with the new property. Realistically you're going to be building a nice stockpile of NFA items so it would behoove you, and your heirs, to have your trust reviewed by a competent attorney well-versed in trusts and the NFA to include specific verbiage to account for the nuances of passing along restricted items. Quoted:
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I never put anything in my trust prior to sending in my trust with the form 4s. Don't know if that's the proper way, but it worked. "Working" as far as getting a stamp does not mean it's a valid trust, if that's all you care about then cool, but you're just crossing your fingers and hoping it'll all be ok in the end. Personal property can be added or removed from trust at anytime, though that can depend on your trust's verbiage as well. Definitely not all I care about, I'm kind of worried about it now and obviously I didn't do enough research on the subject prior. So how does it work now? Can I add my current suppressors and be fine? And who witnesses the addition of items? I am not a lawyer, nor is this legal advice. If the suppressors are already on approved forms under your trust, I would simply add them to the Schedule A and call it good. The assignments aren't required, so witness to them isn't really necessary. I have a simple assignment form I just sign/date and file with the original trust and print off a new schedule A with the new property. Realistically you're going to be building a nice stockpile of NFA items so it would behoove you, and your heirs, to have your trust reviewed by a competent attorney well-versed in trusts and the NFA to include specific verbiage to account for the nuances of passing along restricted items. I agree. Skimping on a Trust especially from a place one is unable to walk in their office is IMO pointless. There are some NFA on like trust that say you should contact an attorney for legal clarification /questions  Oh well you only paid $99
ALSO one needs to remember Not everyone's NFA trust is written and or worded the same. |
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Here is what it looks like: http://i.imgur.com/HZJTdAN.jpg The witnesses signatures at the bottom aren't really credible as I can update this page at any time? Or I should re-issue (print) this sheet and update it every time I add something? Quoted:
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. What kind of trust it is shouldn't matter to the notary and I would get offended if they questioned it at all. It's none of a notary's business. As already indicated, the witness requirements vary by state, however the assignment of property in itself is not necessary much less needed to be notarized. That said, I do an assignment of property, signed/dated, when I put stuff in my NFA trust and then update the schedule A accordingly. You HAVE to put SOMETHING in the trust for it to be valid to begin with, but you can't technically put an existing NFA item in the trust without an approved ATF transfer, but you can for example put a lower receiver in the trust which you end up SBR'ing. As a funny side-story, I once reviewed a trust for someone's pet. They put something like $1.5 million in it to provide for it until death. Here is what it looks like: http://i.imgur.com/HZJTdAN.jpg The witnesses signatures at the bottom aren't really credible as I can update this page at any time? Or I should re-issue (print) this sheet and update it every time I add something? for what its worth the attachment from the 199 trust said you crossed out what wasn't used and wrote nothing follows or something like that. |
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No bank account. Anyone can pay the $200 when you e-file. The only thing the ATF requires is the trust be 3MB or smaller. Regarding your schedule of assets. NEVER put anything on there till it's approved. It's a topic you will see disagreement on. However until you receive approval the trust does not own the item applied for. You should have a $1, 5 or $10 bill as your 1st item on the schedule (serial number included) Put that bill in with your trust / NFA documents. IF you want to put items other than NFA on the turst. Make a separate Schedule of Assets for them. When you apply after your first approval, I always include the NFA items owned / approved. Is it necessary? (again) various opinions saying Y or N. I include a current Schedule of Assets just in case. It shows the examiner IF there's something small one omitted on their current application, you're not some first timer. HOPEFULLY they give approval w/out you needing to submit a correction. Will they, who knows? Regarding beneficiaries . Those should be in your Trust. I don't know who you used for you trust Or why you're not having that atty answer these questions. Unless you used one of those $99 trust on line places. They're great for saving you $$ but not a place i see being there with you IF an ATF inquiry happened. One of the few issues i have with those places. I paid Less than $300 and could drive across town or call if i needed a question answered. By someone who knows the law instead of hypothetical from on line. Thank you for the information. I did use an online trust (199trust), if my stockpile of NFA items grow to a substantial sum I will have my trust reviewed or re-written down the road by an attorney. |
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Form 4, I don't list the item on the property assignment until I take possession of the item.
Form 1, I list it prior to submitting. The trust is asking permission to make an SBR, so it would only make sense that the trust owned the original firearm prior to stamp approval. |
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Form 4, I don't list the item on the property assignment until I take possession of the item. Form 1, I list it prior to submitting. The trust is asking permission to make an SBR, so it would only make sense that the trust owned the original firearm prior to stamp approval. What about if you form 1 a home made suppressor? |
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What about if you form 1 a home made suppressor? Quoted:
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Form 4, I don't list the item on the property assignment until I take possession of the item. Form 1, I list it prior to submitting. The trust is asking permission to make an SBR, so it would only make sense that the trust owned the original firearm prior to stamp approval. What about if you form 1 a home made suppressor? I've only done SBRs, but there is nothing to stop a trust from owning an 80% lower or the raw materials to make a suppressor. |
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I've only done SBRs, but there is nothing to stop a trust from owning an 80% lower or the raw materials to make a suppressor. Quoted:
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Form 4, I don't list the item on the property assignment until I take possession of the item. Form 1, I list it prior to submitting. The trust is asking permission to make an SBR, so it would only make sense that the trust owned the original firearm prior to stamp approval. What about if you form 1 a home made suppressor? I've only done SBRs, but there is nothing to stop a trust from owning an 80% lower or the raw materials to make a suppressor. I didn't know if you have done one, listing a home made suppressor would be difficult beforehand because you are technically stating you have it then, which in reality it shouldn't be created. Listing a lower pre tax stamp is easy enough though. |
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What about if you form 1 a home made suppressor? Quoted:
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Form 4, I don't list the item on the property assignment until I take possession of the item. Form 1, I list it prior to submitting. The trust is asking permission to make an SBR, so it would only make sense that the trust owned the original firearm prior to stamp approval. What about if you form 1 a home made suppressor? Do not list as It is Not a Suppressor, until APPROVED. Unlike a 100% lower. How do you explain / justify a home made item before one has approval to do so? |
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Do not list as It is Not a Suppressor, until APPROVED. Unlike a 100% lower. How do you explain / justify a home made item before one has approval to do so? Quoted:
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Form 4, I don't list the item on the property assignment until I take possession of the item. Form 1, I list it prior to submitting. The trust is asking permission to make an SBR, so it would only make sense that the trust owned the original firearm prior to stamp approval. What about if you form 1 a home made suppressor? Do not list as It is Not a Suppressor, until APPROVED. Unlike a 100% lower. How do you explain / justify a home made item before one has approval to do so? Yes, I stated this above your post. 
I am getting the trust notarized Saturday, and hopefully by the end of the day I will be e-filed. |
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Thank you. Dollar bill it is! Did you have two witnesses or one? I think this is a state by state thing, I will call the bank and see if they can have a witness or two, if not, I will drag someone along. Quoted:
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. Thank you. Dollar bill it is! Did you have two witnesses or one? I think this is a state by state thing, I will call the bank and see if they can have a witness or two, if not, I will drag someone along. Yes, NC requires two....at least thats what 199trust said. |
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So now you have to keep that dollar bill forever? Quoted:
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. So now you have to keep that dollar bill forever? I plan on it but I dont think you have to. Just shows at the point you created it that the trust owned something. The doller I used has a serial number that has a specail meaning to me so its one I would never spend anyways. |
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What kind of trust it is shouldn't matter to the notary and I would get offended if they questioned it at all. It's none of a notary's business. As already indicated, the witness requirements vary by state, however the assignment of property in itself is not necessary much less needed to be notarized. That said, I do an assignment of property, signed/dated, when I put stuff in my NFA trust and then update the schedule A accordingly. You HAVE to put SOMETHING in the trust for it to be valid to begin with, but you can't technically put an existing NFA item in the trust without an approved ATF transfer, but you can for example put a lower receiver in the trust which you end up SBR'ing. As a funny side-story, I once reviewed a trust for someone's pet. They put something like $1.5 million in it to provide for it until death. Quoted:
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I just did mine from 199trust. On the assignment page list a one dollar bill with the serial number. I filled this in front of the notary. I had mine done at my bank, just tell them its a property trust and not a gun trust. They only need to see the pages that have to be notarized. Send in all pages everytime. What kind of trust it is shouldn't matter to the notary and I would get offended if they questioned it at all. It's none of a notary's business. As already indicated, the witness requirements vary by state, however the assignment of property in itself is not necessary much less needed to be notarized. That said, I do an assignment of property, signed/dated, when I put stuff in my NFA trust and then update the schedule A accordingly. You HAVE to put SOMETHING in the trust for it to be valid to begin with, but you can't technically put an existing NFA item in the trust without an approved ATF transfer, but you can for example put a lower receiver in the trust which you end up SBR'ing. As a funny side-story, I once reviewed a trust for someone's pet. They put something like $1.5 million in it to provide for it until death. My bank said there were a few types of trusts they could not sign for legal reasons, only gave me medical equipment as an example. I played it safe and said it was a property trust which is technically true. It was free and they provided the witnesses so I did not care. |
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Thank you for the information. I did use an online trust (199trust), if my stockpile of NFA items grow to a substantial sum I will have my trust reviewed or re-written down the road by an attorney. Quoted:
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No bank account. Anyone can pay the $200 when you e-file. The only thing the ATF requires is the trust be 3MB or smaller. Regarding your schedule of assets. NEVER put anything on there till it's approved. It's a topic you will see disagreement on. However until you receive approval the trust does not own the item applied for. You should have a $1, 5 or $10 bill as your 1st item on the schedule (serial number included) Put that bill in with your trust / NFA documents. IF you want to put items other than NFA on the turst. Make a separate Schedule of Assets for them. When you apply after your first approval, I always include the NFA items owned / approved. Is it necessary? (again) various opinions saying Y or N. I include a current Schedule of Assets just in case. It shows the examiner IF there's something small one omitted on their current application, you're not some first timer. HOPEFULLY they give approval w/out you needing to submit a correction. Will they, who knows? Regarding beneficiaries . Those should be in your Trust. I don't know who you used for you trust Or why you're not having that atty answer these questions. Unless you used one of those $99 trust on line places. They're great for saving you $$ but not a place i see being there with you IF an ATF inquiry happened. One of the few issues i have with those places. I paid Less than $300 and could drive across town or call if i needed a question answered. By someone who knows the law instead of hypothetical from on line. Thank you for the information. I did use an online trust (199trust), if my stockpile of NFA items grow to a substantial sum I will have my trust reviewed or re-written down the road by an attorney. From reading all the threads in the suppressor forum here a lot of people leave the dollar listed and resubmit the same copy of the trust each time. There seems to be no need to update it. |