NFA items and a trust. explain to me

[Rbs]

Can someone please explain what a trust is, how do I make it (if possible) and what is involved exactly?

I want to purchase a suppressor for my AR but after speaking to a few people I was recommended to create a trust instead of doing form 4 from the ATF. Explain please?

 

[No2sc2]

A Trust is like a Will. Its like a corporation, you have trustees that has legal possession of items that the trust owns. The Trust actually owns the NFA item, but since you'res the grantor aka owner of the Trust, you have legal rights to possess it. Remember, trustees have power to it too so be careful on whom you add.

Yes, all crazy and weird, its just papers that is worded with legal wordings.

 

[Quiet Riot Firearms]

It does NOT mean no form 4. A trust is a legal entity, and in essence a "person". Using one for NFA stuff means multiple people can have possession, and less work needed on the form 4.

 

[freedom]

I'm curious if you can sell a trust. Instead of the buyer of a NFA item going through his own set of paperwork, could you add his name to the trust and remove the previous owner's name?

 

[T-Roy]

Trust saves you the Leo sign off step. Also can have multiple trustees. With personal ownership your wife can't have access to items, with both in trust she can.

 

[N Cochran]

You cannot sell a Georgia Trust like you can sell a Georgia corporation or an LLC.

 

[freedom]

Could you "sell" a position on your board of trustees?

 

[Tony2X]

You can add and remove ppl. when ever you want.

 

[dial1911]

One thing I found interesting/surprising about a trust is that it's not filed with the courts or anything. It is literally about ten to twelve pages of legal wording. You have it notarized and send off a copy with your Form 4. The ATF reviews it, hopefully approves it, and then you go fill out a 4473 when you pick up the NFA item you bought from a dealer.

 

[No2sc2]

One thing I found interesting/surprising about a trust is that it's not filed with the courts or anything. It is literally about ten to twelve pages of legal wording. You have it notarized and send off a copy with your Form 4. The ATF reviews it, hopefully approves it, and then you go fill out a 4473 when you pick up the NFA item you bought from a dealer.

Funny huh? The rules and regulations when it comes to firearms is such a strange thing! A piece of paper has so much power..