I am assuming buying the same day is not the same as "using" the same day.......correct OS?
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Anyone need a trust?
- Thread starter Okuma
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I am assuming buying the same day is not the same as "using" the same day.......correct OS?
Using a trust avoids the background check, fingerprints and local LE sign off.
You just send in the form (1 or 4) a copy of the trust and the $200 tax check. The BAFT does the rest.
My understanding is the "Trust" is the owner of the weapon not an individual. Sort of like being company property. At least that's my understanding.
You can buy them as soon as your trust is completed and notarized. However the only way you can use them before ATF approval is to buy them at a shop that also has a gun range. Then you have to give back before you leave.
Oh an the trust examples that are stickies in this forum were drafted by lawyers, no need to spend $200. Use those or pay $10 for Quicken will maker. Paying $200 or even $500 (which is what another attorney in GA charges) is ludicrous.
Personally I like the added security that if something were to happen and the validity of my trust were questioned it would be covered under their malpractice insurance if I'm not mistaken. Also if there are any law changes that would affect my trust it gets updated automatically on the site and I can just reprint it and get it notarized again and be good to go.
This is the kind of **** that pisses me off. You'd think that a lawyer who was so well versed in NFA laws that he is creating trusts would know that this is bull****
"Without a trust, any firearms you own that fall under the jurisdiction of the NFA and are in your name could go to the government when you die."
Even if your NFA items are NOT in a trust if you die they don't go to the government. In fact your heirs can have them transferred into their name for free buy submitting an ATF form 5. They don't have to pay another $200 per item. This jerk is using scare tactics to fleece unsuspecting morons out of $200
Directly from the ATF website
For registered NFA firearms in the estate, the executor should take action as soon as possible to arrange for the proper registration of the firearms. Possession of an NFA firearm not registered to the possessor is a violation of Federal law and the firearm is subject to seizure and forfeiture. However, we do allow the executor a reasonable time to arrange for the transfer of the registered firearms in a decedent's estate. This generally should be done before probate is closed.
It is the responsibility of the executor of the estate to maintain custody and control of the firearms and to transfer the firearms registered to the decedent. The firearms may not be transferred to another party, such as a firearms licensee, for consignment or safekeeping. This would be a transfer subject to the requirements of the NFA. The licensee may assist the executor by identifying purchasers and acting as a broker.
The firearms may be transferred on a tax-exempt basis to a lawful heir. The executor would apply on ATF Form 5, Application for Tax Exempt Transfer and Registration of a Firearm, for a tax-exempt transfer to a lawful heir. A lawful heir is anyone named in the decedent's will or, in the absence of a will, anyone entitled to inherit under the laws of the State in which the decedent last resided. NFA firearms may be transferred directly interstate to a beneficiary of the estate. When a firearm is being transferred to an individual heir, his or her fingerprints on FBI Forms FD-258 must accompany the transfer application. However, if any Federal, State or local law prohibits the heir from receiving or possessing the firearm, ATF will not approve the application.
ATF Form 4 is used to apply for the taxpaid transfer of a serviceable NFA firearm to a person outside the estate (not a beneficiary). ATF Form 5 is also used to apply for the tax-exempt transfer of an unserviceable NFA firearm to a person outside the estate. As noted above, all requirements, such as fingerprint cards for transfers to individuals and compliance with State or local law, must be met before an application may be approved. If an NFA firearm in the estate was imported for use as a "sales sample," this restriction on the firearm's possession remains. The NFA firearm may only be transferred to a Federal firearms licensee who has paid the special (occupational) tax to deal in NFA firearms or to a government agency.
"Without a trust, any firearms you own that fall under the jurisdiction of the NFA and are in your name could go to the government when you die."
Even if your NFA items are NOT in a trust if you die they don't go to the government. In fact your heirs can have them transferred into their name for free buy submitting an ATF form 5. They don't have to pay another $200 per item. This jerk is using scare tactics to fleece unsuspecting morons out of $200
Directly from the ATF website
For registered NFA firearms in the estate, the executor should take action as soon as possible to arrange for the proper registration of the firearms. Possession of an NFA firearm not registered to the possessor is a violation of Federal law and the firearm is subject to seizure and forfeiture. However, we do allow the executor a reasonable time to arrange for the transfer of the registered firearms in a decedent's estate. This generally should be done before probate is closed.
It is the responsibility of the executor of the estate to maintain custody and control of the firearms and to transfer the firearms registered to the decedent. The firearms may not be transferred to another party, such as a firearms licensee, for consignment or safekeeping. This would be a transfer subject to the requirements of the NFA. The licensee may assist the executor by identifying purchasers and acting as a broker.
The firearms may be transferred on a tax-exempt basis to a lawful heir. The executor would apply on ATF Form 5, Application for Tax Exempt Transfer and Registration of a Firearm, for a tax-exempt transfer to a lawful heir. A lawful heir is anyone named in the decedent's will or, in the absence of a will, anyone entitled to inherit under the laws of the State in which the decedent last resided. NFA firearms may be transferred directly interstate to a beneficiary of the estate. When a firearm is being transferred to an individual heir, his or her fingerprints on FBI Forms FD-258 must accompany the transfer application. However, if any Federal, State or local law prohibits the heir from receiving or possessing the firearm, ATF will not approve the application.
ATF Form 4 is used to apply for the taxpaid transfer of a serviceable NFA firearm to a person outside the estate (not a beneficiary). ATF Form 5 is also used to apply for the tax-exempt transfer of an unserviceable NFA firearm to a person outside the estate. As noted above, all requirements, such as fingerprint cards for transfers to individuals and compliance with State or local law, must be met before an application may be approved. If an NFA firearm in the estate was imported for use as a "sales sample," this restriction on the firearm's possession remains. The NFA firearm may only be transferred to a Federal firearms licensee who has paid the special (occupational) tax to deal in NFA firearms or to a government agency.
What percentage of the $200 do you get for promoting this? Thousands and thousands of trust are made by Willmaker, there isn't a single instance where the ATF has not approved or gone after someone for using Willmaker. Lawyers are making a killing of people who think the way you do. What laws do you think would change? The laws that created NFA items goes back to the 1930's, it would take an act of Congress to change them.
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to each his own
some people use car insurance that is cheaper, online only, and may or may not easily pay out if needed to be used.
others knowingly spend more to use a local agent that they can sit down with, call with questions, see face to face if there is a claim, and ask advice on changes if need be.
the trust issue falls in the same bucket to me. peace of mind is worth more to some than others.
and while the info on the items going to the government isn't black and white, if a inheritor does not know the laws or that an item is a NFA registered item (does everyone in your extended family know that a 14" ar is diferent than a 16"?) then they may not take the appropriate steps to transfer it and it could end up being confiscated.
having a lawyer in the mix could make it easier since they would know what steps have to be taken to keep it legally
some people use car insurance that is cheaper, online only, and may or may not easily pay out if needed to be used.
others knowingly spend more to use a local agent that they can sit down with, call with questions, see face to face if there is a claim, and ask advice on changes if need be.
the trust issue falls in the same bucket to me. peace of mind is worth more to some than others.
and while the info on the items going to the government isn't black and white, if a inheritor does not know the laws or that an item is a NFA registered item (does everyone in your extended family know that a 14" ar is diferent than a 16"?) then they may not take the appropriate steps to transfer it and it could end up being confiscated.
having a lawyer in the mix could make it easier since they would know what steps have to be taken to keep it legally
