Armory Sponsor
Posted: 6/27/2014 6:19:21 PM EDT
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Starting over as I was rushing the original post on my lunch break:
I set up a trust with one of my lowers and have the paperwork scanned and saved as an Adobe file. I'm wanting to take that lower off now and add a different one. It seems like I would need to redo the trust page that tells what the trust owns right? And then resave the file with the updated property? The attorney who worked it up said no but I'm not sure we were on the same page and I had to get back to work. Edit: No I haven't filed anything yet. Just getting my ducks in a row. |
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Ok. I think I understand. The answer to your question really depends on how the trust was written. For example, with my trust no NFA stuff gets added to Schedule A until it comes back approved with a tax stamp from the ATF. If you have non-NFA lowers on your trust then you can remove and add them as you wish. Just update Schedule A and then date/initial the sheet.
Typically there always needs to be something in Schedule A to fund the trust in order for it to be valid. (This may vary from state to state). |
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Quoted:
Ok. I think I understand. The answer to your question really depends on how the trust was written. For example, with my trust no NFA stuff gets added to Schedule A until it comes back approved with a tax stamp from the ATF. If you have non-NFA lowers on your trust then you can remove and add them as you wish. Just update Schedule A and then date/initial the sheet. Typically there always needs to be something in Schedule A to fund the trust in order for it to be valid. (This may vary from state to state). Thanks Ill see what the attorney says. My home computer died a couple years ago and we didn't replace it because we don't need one very often. So I had Staples scan the pages and save them as an Adobe file on a couple USB drives. They made it a hassle and I ended up having to make an appointment. Would like to avoid that that but not at the cost of having the Eform denied. |
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Here is what the attorney said when asked if I could submit the Eform without the lower being listed as trust property yet:
"Yes. A lot of times people will not own the lower when I prepare the trust so we just put a round of ammo in as the initial asset and then they later buy the lower and submit the Form 1 without ever bothering to add the lower to trust property." "Basically from a legal standpoint you are transferring the lower to the trust when the tax stamp arrives to do the 'manufacturing' process." Sound right? |
Armory Sponsor