Posted: 10/1/2015 1:03:17 PM EDT
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I recently purchased the 199Trust from that Gearhog deal last week and am just about to go get it notarized, but I have a few questions. Do I need to have a firearm to list in the trust even if it isn't NFA or can the list of items remain blank? The only NFA items I an interested in for now are suppressors and possibly changing my AR Pistol into an SBR.
What other items can be listed in the trust. I have heard that vehicles, machines, equipment, and property can be owned by a trust or is that a totally different type of trust? |
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What does the $1 bill thing do? Quoted:
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My trust holds property other than NFA items. Enter a $1 bill on your schedule A when you get it notarized. What does the $1 bill thing do? It shows that the trust "owns" that $1, you put the serial number in the trust. Can be anything. Add the serial numbers for the cans/sbr/whatever to the trust paperwork once approved. Mine has a lower, thst will likely become an sbr and my 2 stamps I just got back. |
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"funds" the trust. Quoted:
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My trust holds property other than NFA items. Enter a $1 bill on your schedule A when you get it notarized. What does the $1 bill thing do? "funds" the trust. Makes sense to fund the trust. What section is considered Schedule A? Is that where the NFA items? I am a little slow on the uptake when it comes to legal documents. |
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It shows that the trust "owns" that $1, you put the serial number in the trust. Can be anything. Add the serial numbers for the cans/sbr/whatever to the trust paperwork once approved. Mine has a lower, thst will likely become an sbr and my 2 stamps I just got back. Quoted:
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My trust holds property other than NFA items. Enter a $1 bill on your schedule A when you get it notarized. What does the $1 bill thing do? It shows that the trust "owns" that $1, you put the serial number in the trust. Can be anything. Add the serial numbers for the cans/sbr/whatever to the trust paperwork once approved. Mine has a lower, thst will likely become an sbr and my 2 stamps I just got back. I have a couple of serialized lowers I could list on there for the time being. |
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Quoted: Makes sense to fund the trust. What section is considered Schedule A? Is that where the NFA items? I am a little slow on the uptake when it comes to legal documents. Quoted: Quoted: Quoted: Quoted: My trust holds property other than NFA items. Enter a $1 bill on your schedule A when you get it notarized. What does the $1 bill thing do? "funds" the trust. Makes sense to fund the trust. What section is considered Schedule A? Is that where the NFA items? I am a little slow on the uptake when it comes to legal documents. That would be the "Assignment page" which from what I understand is not the same thing as a "Schedule A". The assignment method is suppose to make adding items the the trust easier. |
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That would be the "Assignment page" which from what I understand is not the same thing as a "Schedule A". The assignment method is suppose to make adding items the the trust easier. Quoted:
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My trust holds property other than NFA items. Enter a $1 bill on your schedule A when you get it notarized. What does the $1 bill thing do? "funds" the trust. Makes sense to fund the trust. What section is considered Schedule A? Is that where the NFA items? I am a little slow on the uptake when it comes to legal documents. That would be the "Assignment page" which from what I understand is not the same thing as a "Schedule A". The assignment method is suppose to make adding items the the trust easier. Thank you! I was thinking that was it but not very sure. I can put my serialized lowers in there to show some property in the trust, or go with a $1 bill? |
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Quoted: Once you add that $1 bill and serial number to your trust, where do you put that bill to keep from spending it? Do you have to keep that specific bill? I keep it in the safe in an office envelope with the trust documents. Yes, you have to keep that same bill. |
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199trust doesn't have a "schedule A" and as such, you aren't required to put anything in the list of items the trust owns. Everyone always asks about it and its really annoying. Schedule A's are dumb. Why do you want everyone who deals with your trust knowing what NFA items you own. Its not so much a tin foil hat thing, its just that its pointless. Your NFA paper work list that the trust holds your nfa items, which is way more legally binding than you scribbling some serial #'s on a piece of paper that may nor may not be up to date based on the scanned version you sent to the ATF.
You also don't need to fund it, at least in WA. You can leave the page blank. When your form 1/4 gets approved, the trust then owns the nfa item and at that point fits the requirement of having an actual item in the trust. I'm not a lawyer though. 4/4 approvals for me. Soon to be 6/6 |