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1st time Suppressor purchase and trust

Thread in 'Class III & NFA Discussion' started by BuzzGrizz, Feb 27, 2018.

  1. BuzzGrizz

    BuzzGrizz Frontiersman

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    I've finally decided on a can going with the Q Trash Panda. I see where you can do a 1 shot trust through Silencer Shop and need some advice on the trust process.

    I currently have a SBR not on a trust; could I add that SBR to a trust I do with the Suppressor?
    Or could I add both those items and possibly new NFA items to a trust later in life?
    I do not really have anyone I would add to the trust at this time besides my father and he is getting older.

    Many thanks for any advice on this and pardon my ignorance.
     
    Mr. Booshie likes this.
  2. npeters7

    npeters7 Hunter

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    From my understanding. You will just have to pay the $200 tax to transfer to your trust. You would still be able to have the SBR in your possession while the stamp is transferred to the trust since you already have the stamp in your name
     
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  3. ShooterG

    ShooterG Frontiersman

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    I would do a full blown trust if you plan for more purchases. You never know down the road you may want spouse, children, male lover hunting partner to be able to borrow or use unattended. I wouldn’t add the sbr you already have - if you want to spend $200 to put an SBR in the trust just spend another $50-$200 and buy a new lower to put in there and have 2 SBRs.
     
    Lazarus likes this.
  4. BuzzGrizz

    BuzzGrizz Frontiersman

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    Great info. Do I have to do the trust when I purchase or can I get it a few years down the road?
     
  5. ShooterG

    ShooterG Frontiersman

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    Up front - the trust has to be the buyer.
     
  6. HydroAuto

    HydroAuto Frontiersman

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    What he said ^^^

    When you purchase the NFA devices you'll need/want to begin the NFA transfer paperwork (Form 4) as soon as possible. Filling out the Form 4 will require that you name the recipient of the NFA device. If it is a trust you will need to have the trust in place at that time, and submit a copy of the trust with the Form 4 to the BATFE for review/approval.

    You do not want to do the trust later unless you have money to burn as transferring it from your personal name to a trust will require another $200, Form 4, photos, prints etc for each device you transfer.
     
    AK74U likes this.
  7. DerekB711

    DerekB711 ODT Junkie! Supporter

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    if you want it on the trust then you have to do it on or before. which is easier and less expensive then adding it later
     
  8. Mr. Booshie

    Mr. Booshie The FN Scar guy Supporter

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    I went with the unlimited shot, so I can give access to specified items rather than the whole item list on the trust.
     
  9. wdsk

    wdsk Hunter

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    Contact NFA Lawyers LLC. Real GA attorney Dean Phillips, real legal guidance, real legal assistant, real answers, real physical legal office location, & real close (fairly) .... Marietta. Start with his website, nfalawyers.com . Lots of info and questions anwered there, and for only $99 you can get a fully legal Trust with you as Trustee. The Trust will include forms to complete for assigning property now and in the future to the Trust.

    They'll have it completed and returned to you by email in one business day. If you have questions you can call the law office and actually talk to them. Huge plus! Well worth the peace of mind to know it was done right.
     
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  10. DerekB711

    DerekB711 ODT Junkie! Supporter

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    ^^^ that's who I went with. great trust
     
    wdsk likes this.
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