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Tell me about getting a trust for a suppressor

DieHard4DieHard4 Member Posts: 2,373 ✭✭✭✭✭
edited January 2013 in General Discussion
I had to go to the next county over for class today, and stopped by a gun store I have only been to once since it was the next exit. They deal in class 3, and there are no class 3 dealers in my county. Sheriff won't sign for anything, and I am sure there are other issues too.

But anyway, they have suppressors and many other fine looking guns that I can't buy here, and we talked about possibilities of me getting anything in this county. He mentioned that they very regularly set up trusts for people like me, and I know I have seen it mentioned on here. I told him I'm going to have to come back when I can spare a $1,000, but I do have some more questions.

What are all the details and purposes of a trust? He said I could buy any class 3 item or AOW, I just can't buy a full auto, not that I want to. I'm only wanting a few suppressors as I can afford them in the future, but is a trust a type of business license or something? I know, I'm asking before searching, but figure somebody here has one. How does it work?
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Comments

  • shilowarshilowar Member Posts: 38,811 ✭✭✭
    edited November -1
    My buddy uses a trust for his SBRs and cans. One benefit is you don't have to have head LEO sign off on forms for a trust. Plus you can put family as trustee so the weapons pass directly to them when you take the dirt nap. It only cost him a couple hundred bucks to set it up. Most of his cans and stuff take about 6 months to get approved.
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  • shilowarshilowar Member Posts: 38,811 ✭✭✭
    edited November -1
    http://www.guntrust.com/
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  • legearlegear Member Posts: 6,716
    edited November -1
    Didnt they get rid of the head LEO part? Or talking about doing so.
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  • proappproapp Member Posts: 3,264
    edited November -1
    The way I understand, as im moving all my nfa stuff from
    a corp to a trust. you are just creating an owning entity.
    like another person. with a corp or trust, theres no leo sign off or passport pics. any nfa can be ina trust, never heard the mg stuff before.

    do it right the first time. costing me $2k plus trust fee.
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  • DieHard4DieHard4 Member Posts: 2,373 ✭✭✭✭✭
    edited November -1
    They told me $150 for the trust, and it doesn't need a signature from the sheriff. If I tried to buy just as myself I would need it, and the sheriff ain't signing. Course I do intend to move to a freer place in the future, but I don't know when that would be. Just figured I would ask about it since I was there. So I figure $150 for the trust, then the cost of the suppressor, which I still don't know which caliber I want to start with since this is an expensive purchase, and then $200 tax. Later purchases will cost the same minus the $150 which he said lasts forever. Seems like a business license/will type of thing to me. Let's me buy fun toys, and then I can pass them on.
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  • JnRockwallJnRockwall Member Posts: 16,352 ✭✭✭
    edited November -1
    You still pay the $200 on each NFA item. The up side is with the trust, anyone on the trust can use the weapons. Where as a Form 4 you have to be with the weapon when others use it.

    You can avoid the finger prints, photo's and the LEO signature with a trust and the paper work moves through the system faster. According to some anyways. Since they don't have to process pics and prints, it's basically pull you up and slap a stamp on it.
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  • llamallama Member Posts: 2,637 ✭✭
    edited November -1
    On another forum in a similar discussion someone referenced that the alphabet guys didn't like to see references to NFA or NFA items in the trust name, and they liked to see the trust owning other stuff as well.
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  • HandLoadHandLoad Member Posts: 15,998 ✭
    edited November -1
    This Org is Good - I used their stuff. No problems, even though it was Just for One Suppressor.

    here is Info Link: http://www.guntrustswa.com/2011/03/why-do-gun-owners-need-gun-trust.html
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  • cpermdcpermd Member Posts: 5,273 ✭✭✭
    edited November -1
    Believe it or not, the trusts from Willmaker work fine.
    The only people who say they don't are lawyers selling, Guess what?
    Always start it with $10 in it and as said above, nothing firearms related in the title.

    CP
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  • bigoutsidebigoutside Member Posts: 19,443 ✭
    edited November -1
    The objective in hiring an attorney is not to get the correct answer.

    It is to establish a clear chain of accountability and liability should something go tits up.

    So after your attorney and you spend a year or so in the Federal Pen, you own his house.

    But only if he messes it up.

    With a website, you get your subscription money back. (If any).
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  • KEVD18KEVD18 Member Posts: 15,037
    edited November -1
    read the fine print.

    the fundamental flaw in most if not all of the quicky internet gun trusts is durability. a properly established and formatted trust has a max life of like 70 years before it has to be re done. depending on age when you form it, that should be most of three generations.

    the quicky download the forms and fill em in type trusts historically have had a durability flaw and basically were worthless when the principal trustee died(largely defeating the purpose). perhaps they've fixed that, but that was an issue when they first started doing them.

    this site has some good info.

    http://www.guntrustlawyer.net/

    to me, its always better to do it right the first time, write the check, cry once and be done with it. your mileage may vary,,.,
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  • MercuryMercury Member Posts: 7,842 ✭✭✭
    edited November -1
    You need to find a dealer that knows what the hell he is talking about! With a trust, you can own ANY machinegun, AOW, SBR, etc. There isn't jack the local sheriff can do, either! They have NO say with a trust!

    Merc

    quote:Originally posted by DieHard4
    I had to go to the next county over for class today, and stopped by a gun store I have only been to once since it was the next exit. They deal in class 3, and there are no class 3 dealers in my county. Sheriff won't sign for anything, and I am sure there are other issues too.

    But anyway, they have suppressors and many other fine looking guns that I can't buy here, and we talked about possibilities of me getting anything in this county. He mentioned that they very regularly set up trusts for people like me, and I know I have seen it mentioned on here. I told him I'm going to have to come back when I can spare a $1,000, but I do have some more questions.

    What are all the details and purposes of a trust? He said I could buy any class 3 item or AOW, I just can't buy a full auto, not that I want to. I'm only wanting a few suppressors as I can afford them in the future, but is a trust a type of business license or something? I know, I'm asking before searching, but figure somebody here has one. How does it work?
    · Share on FacebookShare on Twitter
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