If I add you to my trust, can I then sell you the suppressor?

[DaemonAssassin]

I’ve been wanting a pistol can, maybe it’s time. Not sure If I should put it in the trust or individual.
Thanks DA

Go with the trust. Items in the trust don't have to go through probate when the time comes.

 

[Worsley]

I would think so. Sounds like the OP is just trying to save the potential new owner $200.
I’d just sell it to them, the rest is their problem.
If they bought it themselves from an FFL they’d be paying it anyways


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Saving money is part of it, the other part is how to minimize the wait time. Right now when someone buys a can, it is about a year process. I was wondering, 1) how long does it take to add someone to my single shot trust (seems like weeks not months), and 2) can the person added to my trust assume ownership upon purchase vs having to go through the year long process?

 

[DaemonAssassin]

Saving money is part of it, the other part is how to minimize the wait time. Right now when someone buys a can, it is about a year process. I was wondering, 1) how long does it take to add someone to my single shot trust (seems like weeks not months), and 2) can the person added to my trust assume ownership upon purchase vs having to go through the year long process?

1. Adding somebody to the trust takes a long as it takes to sign in front of a notary.

2. No, they can not. It has already been stated that once the settlor leaves the trust, the trust is dissolved. In addition to that, you are purposefully attempting to avoid the RPQ check on this person, just to save time and money.

You can't do what you've asked. Asking the same question multiple times will not change the answers you will get.

The easiest way and the legal way to do it is to walk into a shop, have the buyer do a form 4, and pay the transfer fee for the stamp. There is no other way for you to try to work around that. Who cares if they have to wait 6 months for approval. That isn't your problem. Staying out of jail is your problem, not to make life easier for somebody else.

 

[rseymorejr]

1. Adding somebody to the trust takes a long as it takes to sign in front of a notary.

2. No, they can not. It has already been stated that once the settlor leaves the trust, the trust is dissolved. In addition to that, you are purposefully attempting to avoid the RPQ check on this person, just to save time and money.

You can't do what you've asked. Asking the same question multiple times will not change the answers you will get.

The easiest way and the legal way to do it is to walk into a shop, have the buyer do a form 4, and pay the transfer fee for the stamp. There is no other way for you to try to work around that. Who cares if they have to wait 6 months for approval. That isn't your problem. Staying out of jail is your problem, not to make life easier for somebody else.

My plan is to add my son to my trust so that when I check out he takes over what's in there.
Will that not work?

 

[smdub]

My plan is to add my son to my trust so that when I check out he takes over what's in there.
Will that not work?

Trust should already take care of that. Should have a successor trustee named.

 

[DaemonAssassin]

My plan is to add my son to my trust so that when I check out he takes over what's in there.
Will that not work?

As long as he is a beneficiary, it will all transfer to him tax free on a Form 5 upon your passing.

 

[Worsley]

1. Adding somebody to the trust takes a long as it takes to sign in front of a notary.

2. No, they can not. It has already been stated that once the settlor leaves the trust, the trust is dissolved. In addition to that, you are purposefully attempting to avoid the RPQ check on this person, just to save time and money.

You can't do what you've asked. Asking the same question multiple times will not change the answers you will get.

The easiest way and the legal way to do it is to walk into a shop, have the buyer do a form 4, and pay the transfer fee for the stamp. There is no other way for you to try to work around that. Who cares if they have to wait 6 months for approval. That isn't your problem. Staying out of jail is your problem, not to make life easier for somebody else.

So you are saying there is a chance?

 

[DaemonAssassin]

So you are saying there is a chance?

Do you want to spend time at Club Fed for breaking the law?

 

[rseymorejr]

Trust should already take care of that. Should have a successor trustee named.

As long as he is a beneficiary, it will all transfer to him tax free on a Form 5 upon your passing.

Good news, it'll work out. Bad news, I have to die first! LOL!

 

[smdub]

As long as he is a beneficiary, it will all transfer to him tax free on a Form 5 upon your passing.

If hes listed as the successor trustee, there isn't even Form 5s. He should just assume control of the trust.

 

[DaemonAssassin]

Good news, it'll work out. Bad news, I have to die first! LOL!

Your son will be able to have it transferred into his own trust tax free on the Form 5, if he wants to go that route.

 

[DaemonAssassin]

If hes listed as the successor trustee, there isn't even Form 5s. He should just assume control of the trust.

The ATF forced trusts to be ones that can't pass from generation to generation like you think. All trusted after a certain date are ones that dissolve on the death of the creator of the trust.

 

[AssMan]

That’s what I was thinking. If I wanted to sell my can, I could add the buyer to my trust and then sign the trust over to the buyer?

I would double-check the legality. Agents at the AFT and FIB are just sitting around waiting for the next Randy Weaver.

 

[smdub]

The ATF forced trusts to be ones that can't pass from generation to generation like you think. All trusted after a certain date are ones that dissolve on the death of the creator of the trust.

Can you provide info? 41F doesn't call for that. A gun trust w/ multiple trustee's doesn't dissolve when the creator dies.

https://www.govinfo.gov/content/pkg/FR-2016-01-15/pdf/2016-00192.pdf

 

[DaemonAssassin]

Can you provide info? 41F doesn't call for that. A gun trust w/ multiple trustee's doesn't dissolve when the creator dies.

https://www.govinfo.gov/content/pkg/FR-2016-01-15/pdf/2016-00192.pdf

Call up Silencer Shop and ask them.

Edit: Older trusts allowed what you are staying to occur, but those haven't been created in quite a few years. It had nothing to do with 41F.

 

[Worsley]

Do you want to spend time at Club Fed for breaking the law?

LOL — my sense of humor sucks.

 

[rbird7282]

1. Adding somebody to the trust takes a long as it takes to sign in front of a notary.

2. No, they can not. It has already been stated that once the settlor leaves the trust, the trust is dissolved. In addition to that, you are purposefully attempting to avoid the RPQ check on this person, just to save time and money.

You can't do what you've asked. Asking the same question multiple times will not change the answers you will get.

The easiest way and the legal way to do it is to walk into a shop, have the buyer do a form 4, and pay the transfer fee for the stamp. There is no other way for you to try to work around that. Who cares if they have to wait 6 months for approval. That isn't your problem. Staying out of jail is your problem, not to make life easier for somebody else.

I thought everyone on the trust needed to provide fingerprints to the ATF if they are a trustee. Am I mistaken? Wouldn’t they have to do that in addition to having it notarized?


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[Dovk0802]

I've transferred NFA items from another trust and out of mine on a form 4, I filled out myself. Once the stamp is received, update the trust inventory.

 

[smdub]

The silencer shop thing may be due to how they word their trusts. If they only name beneficiaries and not successor trustees that could be one difference.

I thought everyone on the trust needed to provide fingerprints to the ATF if they are a trustee. Am I mistaken? Wouldn’t they have to do that in addition to having it notarized?

IANAL: Only need to provide fingerprints for people who are 'responsible parties' on the trust when you transfer a new item. It's not done when you add people after the fact.
Example: You and Bob are trustee's. The trust buys a new suppressor. You and Bob have to submit fingerprints. After its transferred, you later add Sally to the trust w/ a notarized form. Sally does not get printed. If the trust then buys another suppressor, you, Bob, and Sally all get fingerprinted and you have to send the new notarized additions to the ATF along w/ your trust.

 

[DaemonAssassin]

The silencer shop thing may be due to how they word their trusts. If they only name beneficiaries and not successor trustees that could be one difference.



IANAL: Only need to provide fingerprints for people who are 'responsible parties' on the trust when you transfer a new item. It's not done when you add people after the fact.
Example: You and Bob are trustee's. The trust buys a new suppressor. You and Bob have to submit fingerprints. After its transferred, you later add Sally to the trust w/ a notarized form. Sally does not get printed. If the trust then buys another suppressor, you, Bob, and Sally all get fingerprinted and you have to send the new notarized additions to the ATF along w/ your trust.

The part for me is possible, but I looked around and not many, if any, trusts are being done the way they originally were.

The second part of your post is true. Only when buying a new item does the amendment form(s), RPQ's, and prints need to be submitted to the ATF.