Thinking about getting a 1st suppressor.

[spencer60]

Do y’all prefer doing a Trust or Individual?

I can’t decide if the Trust is worth it for me.

Trust used to be the way to go, but if you are the only one using this can the individual route is faster these days... From what I've seen lately trusts add months to the processing time.

There are certain areas Trusts still have an advantage, but not many.

 

[Gaffer1968]

Trust used to be the way to go, but if you are the only one using this can the individual route is faster these days... From what I've seen lately trusts add months to the processing time.

There are certain areas Trusts still have an advantage, but not many.

when I got mine years ago I went with a Trust because that option didn't require any signed statements. etc. from local LE (what they called the Chief Law Enforcement Officer in your county/city). It still took over 11 months to get executed and getting the approval AFTER THEY CASHED MY CHECK

 

[spencer60]

Same here, although in Cobb CLEO approval was never an issue. It just made more sense and was less hassle.

Of course 41F changed that, and made the trusts way more hassle to deal with than individual. Plus, from what I've heard in a few interviews, the added paperwork on the NFA side, particularly the legal review of each trust document, is really slowing down trust approvals a lot.

Since 41F went through I've done everything as 'individual'.

 

[Gaffer1968]

Same here, although in Cobb CLEO approval was never an issue. It just made more sense and was less hassle.

Of course 41F changed that, and made the trusts way more hassle to deal with than individual. Plus, from what I've heard in a few interviews, the added paperwork on the NFA side, particularly the legal review of each trust document, is really slowing down trust approvals a lot.

Since 41F went through I've done everything as 'individual'.

Agree....but I'm wondering if the Trust approval I already have would afford any speed in possibly getting another can.

 

[AK74U]

Trust have the financial advantage. As you're single now for this instance. But later wed or your kids become shooters and you have to create a trust and PAY for EACH item you're adding to the trust. If it's ONLY you and you know for sure it's going to stay that way, go individual. Buy once cry once, I can add or delete people at will with the trust and don't have to pay a dime to do so. I like to get my tears out the way first, then play.

 

[Gaffer1968]

Trust have the financial advantage. As you're single now for this instance. But later wed or your kids become shooters and you have to create a trust and PAY for EACH item you're adding to the trust. If it's ONLY you and you know for sure it's going to stay that way, go individual. Buy once cry once, I can add or delete people at will with the trust and don't have to pay a dime to do so. I like to get my tears out the way first, then play.

I think the thing that attracted me to a Trust when I got my can was that if I listed potential heirs (actual trustees) in it, the can could go to them without all the crap associated with getting one

 

[AK74U]

That too is a benefit of a trust. I have some friends and my God children as beneficiaries.

I think the thing that attracted me to a Trust when I got my can was that if I listed potential heirs (actual trustees) in it, the can could go to them without all the crap associated with getting one

 

[AK74U]

I remember when the SilencerCo Omega came out, that was my first can. Guy at my LGS gave me a card of his lawyer for trusts, cat charges $500 for a trust. I almost quit until I was introduced to H Heavy D and spent a "well spent" $100. Been happy since.

 

[BigMike]

Im just me so I don't bother with fooling with the trust even though I have one with my first 3 or 4 items on it. The extra paperwork was a necessary hassle back in the day, but now it's a unneeded and to much extra BS.

 

[C'mon man!]

My understanding is that you leave your NFA items to an heir, upon your death they submit a Form 5 and a responsible person's form, the executor of the will holds the NFA item, and once approved the heir gets the items with no tax.

I have also seen that you can leave the nfa items to a gun trust, and form 5 for tax free transfer as well. But not sure of the truth to that.