Suppressor trust

[huntoregon]

Can someone explain to me the pros and cons of a suppressor trust? Are they worth having, can multiple items be put on the same trust, if I already own suppressors as an individual what is the process to get them on the trust?

Did I miss the boat by not having one? Do you guys recommend a local attorney or I see there are places online that draw them up. What do you guys think…

 

[Recon$$]

Just makes possessing or taking possession legal for your family members or who you wish to include in the trust.

 

[bozoben]

How much of a PITA is it to get a trust put together and put previously owned suppressors on said trust?

 

[FrogFire7]

I've been considering just that... I believe you get the trust set up first, then it's just a normal NFA item transfer $200/item into the trust's possession. You can keep them and use them in the mean time. Again, just my understanding

 

[Reelamin]

Google question with Silencer Central and they will easily and clearly explain both options to you. Trust is only way IMO.

 

[biednick]

With a trust you can let someone else possess your NFA items when you aren't present. Depending on how it's written it might eliminate the need for a transfer when you die and pass them on to someone, but some trusts are written so they have to disperse their property then the settlor dies. There's not really any cons other than a little more paperwork to submit.

 

[Reelamin]

How much of a PITA is it to get a trust put together and put previously owned suppressors on said trust?

Google Silencer shop with your questions. Simple to do.

 

[Bucklowery]

It is a must. If you don't have a trust and something happens to you, anyone with access to it has violated the law. A trust can even allow beneficiaries (such as your children) even if they are not of age yet. You can add people or take them off if needed. I used a gun trust lawyer but was not expensive

Thanks

Buck

 

[cohunt]

With a trust you can let someone else possess your NFA items when you aren't present. Depending on how it's written it might eliminate the need for a transfer when you die and pass them on to someone, but some trusts are written so they have to disperse their property then the settlor dies. There's not really any cons other than a little more paperwork to submit.

When you die, pretty much your beneficiaries have to file for a personal transfer, but no transfer fee.

You can't have an "endless" trust, there must be a beneficiary, and they must be alive/named when you write or modify the trust

 

[Coyote Shadow Tracker]

Can someone explain to me the pros and cons of a suppressor trust? Are they worth having, can multiple items be put on the same trust, if I already own suppressors as an individual what is the process to get them on the trust?

Did I miss the boat by not having one? Do you guys recommend a local attorney or I see there are places online that draw them up. What do you guys think…

We have a "TRUST" easy to setup we did it ourselves for all our suppressors and SBRs.

What Are the Benefits of a Gun Trust? - SilencerCo

It's a common question. So, exactly what does a gun trust do and why should you get one? Find out here!

silencerco.com

 

[biednick]

If you don't have a trust and something happens to you, anyone with access to it has violated the law.

The executor of your estate can legally possess them until the form 5s to your heir have been approved.

https://www.atf.gov/file/97596/download

 

[biednick]

When you die, pretty much your beneficiaries have to file for a personal transfer, but no transfer fee.

You can't have an "endless" trust, there must be a beneficiary, and they must be alive/named when you write or modify the trust

Depending on how the trust is written it might not end when you die. You'd still need a beneficiary in case everyone dies, but it's possible to write a trust in such a way that multiple people have to die before the assets have to be dispersed. Multiple settlors is the method I'm most familiar with, but I'm sure there's other options too. It's often used by couples owning property together, but could be done for any assets.

 

[huntoregon]

This may be a stupid question, is there an age limit on a beneficiary? Do they need to be 21

 

[biednick]

This may be a stupid question, is there an age limit on a beneficiary? Do they need to be 21

There's no age limit for beneficiaries, but they can't take possession until they're 18. An 18-21 year old can make or buy NFA items from an individual, but can't buy from a dealer. It's basically the same as pistols. Successor and co- trustees have to be at least 18.