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Posted: 1/17/2009 6:42:52 AM EDT
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I am buying a Walther P22 with a can. I am using a Trust to hold the NFA items. I drafted the Trust.
What form(s) do I need and where do they go? Say I buy the item online. They hold it until my paperwork is OK'd I am guessing. Does it still have to pass through an FFL, or do they ship it to him and he gives it to me once my paperwork is OK'd? Once I get the process down, I will be GTG - it's just the first time that is a learing curve. Thanks for any help you can offer. I truly appreciate it. M_S |
| Be sure to look at the other forms of ownership, and for your trust related questions, check out my guide www.86th.org/?id=nfa-trust |
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Every time a NFA item changes hands, BATFE must first approve the transfer.
So if you buy online from an out-of-state source, the first transfer is from the seller to your in-state dealer. Then you must submit the Form 4 transfer from your in-state dealer to you. If the out-of-state seller is not an FFL/SOT, it requires a $200 Form 4 transfer from him to your in-state dealer, then a second $200 transfer from your dealer to you. Total taxes: $400. If you are buying from an FFL/SOT manufacturer or an out-of-state FFL/SOT dealer, the first transfer (to your in-state dealer) is via a tax-free Form 3. Then the second transfer is via a $200-tax-due transfer to you. If you buy from an in-state dealer who has the item in stock, it only requires one transfer (and of course one $200 tax), from the dealer to you. And it also takes half the time, because there is only one transfer to wait for BATFE to approve. |
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I am buying a Walther P22 with a can. I am using a Trust to hold the NFA items. I drafted the Trust. Thanks, I realize that, but think this process is more streamlined for me and other persons can also have access. You didn't happen to use Willmaker, did you? If so, please explain which other persons (other than your spouse, if you did a shared living trust) can also have access, and why...
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Quoted:
I am buying a Walther P22 with a can. I am using a Trust to hold the NFA items. I drafted the Trust. Thanks, I realize that, but think this process is more streamlined for me and other persons can also have access. You didn't happen to use Willmaker, did you? If so, please explain which other persons (other than your spouse, if you did a shared living trust) can also have access, and why...No, I took the language of someone else's and am tweaking it/researching/crafting it to comply with the law in letter and spirit. I am listing a few people. Wife/ close friends. The Trust is not a public document, so a person may be on it and not even know in the event of my death, the wife gets the property according to the Trust and my Will (also self-drafted and very nice indeed). The will was reviewed by 2 lawyers. It's sweet and also a bit funny as to division of property in case heirs can not agree. Waiting on my FFL and the folks selling it have not been exactly great in the communication (like so many gun sellers/FFLs). I have a problem with guns and money. I am just itching to buy SOMETHING and man I hate waiting. MSP will sign off, but why go that when the Trust is just easier and more people can have access? No prints (they already have them), no photo, no extended wait. Clean and simple. I like that. |
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No, I took the language of someone else's and am tweaking it/researching/crafting it to comply with the law in letter and spirit. It's worse than I thought. Please do yourself a favor and hire a competent attorney to draft a trust for you.
I am listing a few people. Wife/ close friends. The Trust is not a public document, so a person may be on it and not even know in the event of my death, the wife gets the property according to the Trust and my Will (also self-drafted and very nice indeed). The will was reviewed by 2 lawyers. It's sweet and also a bit funny as to division of property in case heirs can not agree. |
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Quoted:
No, I took the language of someone else's and am tweaking it/researching/crafting it to comply with the law in letter and spirit.
It's worse than I thought. Please do yourself a favor and hire a competent attorney to draft a trust for you.I am listing a few people. Wife/ close friends. The Trust is not a public document, so a person may be on it and not even know in the event of my death, the wife gets the property according to the Trust and my Will (also self-drafted and very nice indeed). The will was reviewed by 2 lawyers. It's sweet and also a bit funny as to division of property in case heirs can not agree. What makes you think I'm not a competent attorney? Thanks for your concern tough. |
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Quoted:
Quoted:
I am buying a Walther P22 with a can. I am using a Trust to hold the NFA items. I drafted the Trust. Thanks, I realize that, but think this process is more streamlined for me and other persons can also have access. You didn't happen to use Willmaker, did you? If so, please explain which other persons (other than your spouse, if you did a shared living trust) can also have access, and why...No, I took the language of someone else's and am tweaking it/researching/crafting it to comply with the law in letter and spirit. I am listing a few people. Wife/ close friends. The Trust is not a public document, so a person may be on it and not even know in the event of my death, the wife gets the property according to the Trust and my Will (also self-drafted and very nice indeed). The will was reviewed by 2 lawyers. It's sweet and also a bit funny as to division of property in case heirs can not agree. Waiting on my FFL and the folks selling it have not been exactly great in the communication (like so many gun sellers/FFLs). I have a problem with guns and money. I am just itching to buy SOMETHING and man I hate waiting. MSP will sign off, but why go that when the Trust is just easier and more people can have access? No prints (they already have them), no photo, no extended wait. Clean and simple. I like that. I agree, getting a sign off, finger prints and a picture taken seems degrading and akin to "asking for permission from daddy". Are you a lawyer though? Also wasn't there a site around called "Maryland Shooters" or something? Any relation? |
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Is your trust written to continue after your death? Most of them expire with the death of the principle, IIRC. Is your wife going to have instructions on forming her own trust (including updates as required for changes in state law) and getting everything transfered from your trust to her trust?
I am listing a few people. Wife/ close friends. The Trust is not a public document, so a person may be on it and not even know in the event of my death, the wife gets the property according to the Trust and my Will (also self-drafted and very nice indeed). The will was reviewed by 2 lawyers. It's sweet and also a bit funny as to division of property in case heirs can not agree. Clean and simple. I like that. Kharn |
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Quoted:
Quoted:
Is your trust written to continue after your death? Most of them expire with the death of the principle, IIRC. Is your wife going to have instructions on forming her own trust (including updates as required for changes in state law) and getting everything transfered from your trust to her trust?
I am listing a few people. Wife/ close friends. The Trust is not a public document, so a person may be on it and not even know in the event of my death, the wife gets the property according to the Trust and my Will (also self-drafted and very nice indeed). The will was reviewed by 2 lawyers. It's sweet and also a bit funny as to division of property in case heirs can not agree. Clean and simple. I like that. Kharn The trust lives on when I depart. The heirs will need to do nothing, but enjoy NFA goodness. |
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