downside to adding trustees?

[Tanman2003]

I'm looking to form a trust using Dean Phillip's method, is there any downside to adding your friends on it in addition to your family. They are legal etc. and I trust them. Is there any additional paperwork or troubles by adding more people on your trust?

thanks,

-Brian

 

[HydroAuto]

Well, the only thing I can think of is that after July 14 you'll need prints for all of them any time you make another NFA transfer to the trust. (ie: buy suppressors, make SBRs)

 

[Tanman2003]

Well, the only thing I can think of is that after July 14 you'll need prints for all of them any time you make another NFA transfer to the trust. (ie: buy suppressors, make SBRs)

cool thanks! Although, I heard you can file an amendment when you buy a new nfa item that removes all the trustees. Then after you receive the item, you can put the trustees back on by shredding the amendment. and the ATF doesn't want to know about subsequent amendments.

 

[CheshireGoat]

Biggest problem is they could have your toys if you want to play with them...

 

[shotgun 01]

Biggest problem is they could have your toys if you want to play with them...

BUT....only if they know the combination to the safe.

 

[Sneakypete]

cool thanks! Although, I heard you can file an amendment when you buy a new nfa item that removes all the trustees. Then after you receive the item, you can put the trustees back on by shredding the amendment. and the ATF doesn't want to know about subsequent amendments.

Interesting, hopefully some of the legal heads on here will chime in

 

[nitrousfedlx]

According to heavy D, his trust is setup to where the co trustees won't need the additional paperwork.