Sigfan220 wrote:Trust is the ticket for many reasons. I however have not used my trust, I keep everything under my FFL. I would not buy a suppressor (or any NFA item) without a trust.
Holland&Holland wrote:Sigfan220 wrote:Trust is the ticket for many reasons. I however have not used my trust, I keep everything under my FFL. I would not buy a suppressor (or any NFA item) without a trust.
Why?
crbutler wrote:MN will not allow destructive devices or short barreled shotguns or non C&R full auto for private citizens.
Sigfan220 wrote:Holland&Holland wrote:Sigfan220 wrote:Trust is the ticket for many reasons. I however have not used my trust, I keep everything under my FFL. I would not buy a suppressor (or any NFA item) without a trust.
Why?
The main reasons are: you are the only one who may possess it. If you get hurt at the range with your buddy and get taken out in an ambulance your buddy is now illegally possessing you NFA item. The police would gladly take it but good luck getting it back in a timely fashion or in the same condition. The same goes for your family. If anyone in your family knows the code to your safe they would be illegally possessing it when you are not in the house. Same for when you die. You can modify the trust at any time to include more or less people.
I was talking with some people in the industry and they said to do one trustee per item. Then when you want to sell it you sell the trust too and they don't pay the $200 tax because you are not transferring it. You would simply be changing the names on the trust removing yourself and adding the buyer.
The whole possession thing is reason enough in my mind.
Ghost wrote:I'd say the benefit of a trust is the ability for family members to use my stuff. Lots of situations that could arise both planned and unplanned.
Ghost wrote:You have to buy the suppressor to get the serial number needed for the paperwork.
gun_fan111v2 wrote:Ghost wrote:You have to buy the suppressor to get the serial number needed for the paperwork.
You can buy the suppressor any time you want, but you cannot submit the ATF paperwork until your trust is established
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