Posted: 1/4/2016 9:15:21 PM EDT
| So, if there is an EA that clarifies the 41P issue and signoffs and prints are now needed for everyone on the trust, how will you add someone to the trust later? Will any trust amendments now need to go through ATF? Also related, when buying from an online shop like silencer shop, do you pay them and then wait until your local FFL takes possession and processes the transfer before you can start your form 4 process? If so, how fast is that process? I have never bought NFA online before, but they have things I wants. |
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So, if there is an EA that clarifies the 41P issue and signoffs and prints are now needed for everyone on the trust, how will you add someone to the trust later? We don't know yet. Will any trust amendments now need to go through ATF? I think they already need to. Also related, when buying from an online shop like silencer shop, do you pay them and then wait until your local FFL takes possession and processes the transfer before you can start your form 4 process? If so, how fast is that process? Yes you need to pay first and the wait times vary. |
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So, if there is an EA that clarifies the 41P issue and signoffs and prints are now needed for everyone on the trust, how will you add someone to the trust later? We don't know yet. Will any trust amendments now need to go through ATF? I think they already need to. Also related, when buying from an online shop like silencer shop, do you pay them and then wait until your local FFL takes possession and processes the transfer before you can start your form 4 process? If so, how fast is that process? Yes you need to pay first and the wait times vary. As far as I was told, currently, you just need to add the party to the trust and sign (notarized depending on state) Looks like I am off to buy something locally tomorrow. Who knows how quickly that change will come. |
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This. What's the point in asking all these stupid questions when NONE of us know Quoted:
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Pretty sure we'll have to see the actual language of the rule. Until then it's all speculation. This. What's the point in asking all these stupid questions when NONE of us know Uh, hello... FPNI ? |
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FICG (Firearms Industry Consulting Group) and I talked about this a few months ago. I believe, don't quote me, there is a fight to be had over 41P because of the rules surrounding trusts in general, not just firearms trusts. They, or several of their lawyers, are members on here. Maybe they can clarify further.
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Quoted:
This. What's the point in asking all these stupid questions when NONE of us know Quoted:
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Pretty sure we'll have to see the actual language of the rule. Until then it's all speculation. This. What's the point in asking all these stupid questions when NONE of us know Well sir, the point is that if you wait to see it in writing, then it's TOO FUCKING LATE. |
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FICG (Firearms Industry Consulting Group) and I talked about this a few months ago. I believe, don't quote me, there is a fight to be had over 41P because of the rules surrounding trusts in general, not just firearms trusts. They, or several of their lawyers, are members on here. Maybe they can clarify further. This! aTF can't redefine 100's of years of trust law. It's bigger than firearms. |
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FICG (Firearms Industry Consulting Group) and I talked about this a few months ago. I believe, don't quote me, there is a fight to be had over 41P because of the rules surrounding trusts in general, not just firearms trusts. They, or several of their lawyers, are members on here. Maybe they can clarify further. It becomes a much bigger and more serious issue if they try to do this for corporations. It's not clear to me how it makes sense to do it for trusts and NOT corporations, but it opens a huge can of worms if they try to implement this for corporations. Depending on what happens, I will just set up a corporation. |
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This! aTF can't redefine 100's of years of trust law. It's bigger than firearms. Quoted:
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FICG (Firearms Industry Consulting Group) and I talked about this a few months ago. I believe, don't quote me, there is a fight to be had over 41P because of the rules surrounding trusts in general, not just firearms trusts. They, or several of their lawyers, are members on here. Maybe they can clarify further. This! aTF can't redefine 100's of years of trust law. It's bigger than firearms. That is what is weird to me. Especially when trust law varies state to state. |
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i think they're going to require the Grantor and Trustees go through an NICS check. Currently that doesn't happen. Way more than a NICS check... Fingerprints for all on the trust, CLEO sign off, and background check. Basically requiring government approval for establishing and executing a private trust. |
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Well sir, the point is that if you wait to see it in writing, then it's TOO FUCKING LATE. Quoted:
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Pretty sure we'll have to see the actual language of the rule. Until then it's all speculation. This. What's the point in asking all these stupid questions when NONE of us know Well sir, the point is that if you wait to see it in writing, then it's TOO FUCKING LATE. Hahahahaha........it's already too late. The wings have already fallen off this plane, we're just wondering how long it takes to hit the ground. |
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Hahahahaha........it's already too late. The wings have already fallen off this plane, we're just wondering how long it takes to hit the ground. Quoted:
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Pretty sure we'll have to see the actual language of the rule. Until then it's all speculation. This. What's the point in asking all these stupid questions when NONE of us know Well sir, the point is that if you wait to see it in writing, then it's TOO FUCKING LATE. Hahahahaha........it's already too late. The wings have already fallen off this plane, we're just wondering how long it takes to hit the ground. In the larger view, yes. But not too late to amend my trust or add another item or 3. One problem I have is that you cannot add children as trustees, so in the aspect of handing items down to children who are currently minors, you are SOL. |
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It becomes a much bigger and more serious issue if they try to do this for corporations. It's not clear to me how it makes sense to do it for trusts and NOT corporations, but it opens a huge can of worms if they try to implement this for corporations. Depending on what happens, I will just set up a corporation. Quoted:
Quoted:
FICG (Firearms Industry Consulting Group) and I talked about this a few months ago. I believe, don't quote me, there is a fight to be had over 41P because of the rules surrounding trusts in general, not just firearms trusts. They, or several of their lawyers, are members on here. Maybe they can clarify further. It becomes a much bigger and more serious issue if they try to do this for corporations. It's not clear to me how it makes sense to do it for trusts and NOT corporations, but it opens a huge can of worms if they try to implement this for corporations. Depending on what happens, I will just set up a corporation. That may end up being an answer for everything new. Hate to pay the tax again just to transfer items in. |