How many on here have one setup? I'm about to order a sbr ar-15 and I'll soon be getting a suppressor for said sbr as well. Figured if I'm going to do it, now would be the time. I'd like to know any reason not to? If you have NFA items, and don't have a gun trust, why not? Just trying to see if the couple hundred ($350-$550) is worth it. I like the idea of being able to add my son to it when he's 18 and then he can legally use/own my items as well. Thoughts?
Gun Trusts
- Thread starter Caleb
- Start date
- Location
- SPANISH FORK, UTAH
Almost did it once, I still might in the future.... Not one reason that I could ever find as a negative aspect to it, I was going to buy an M16 at the time and the sale fell through, hind site I should have just finished it out. Nice if you can set one up with a couple of friends and share toys, if you have friends you trust.
rholbrook
Well-Known Member
- Location
- Kaysville, Ut
What is a gun trust? I have never heard of one
Creates a legal entity for gun ownership. The trust can buy class 3 weapons and transfer possession to others within the trust. In simple terms, it means you can buy a short barreled suppressed machine gun for example, and pass it on to your kids or whoever else without them needing 3 NFA stamps or tons of red tape.
This, except there isn't any "transfer" per say as anyone on the trust can legally posses the items under the trust. The trust also makes it a bit easier to buy NFA items as you no longer have to get the Chief of Police to sign-off on every item you buy. The one thing to note, you don't own anything that's under the trust, the trust owns it (and everyone on the trust). From what I've been told that means when you buy things, you have to do it from an account that's setup just for the trust. Not sure if that's true or not though.
Kiel
Formerly WJ ZUK
I'm not sure how legit this is, but this deal has been popping up on some gun deal websites the last 3-4 days. 59.00 for a trust?
http://www.gearhog.com/?did=68503
http://www.gearhog.com/?did=68503
Interesting. If I do it, I'll be going through stecklaw.com. He's local and he's also the owner of joefirearms.com.
- Location
- Bountiful, land of rocks
subscribing as I'm interested in one as well
I'm probably going to call and set something up tomorrow (not sure when I'll actually be able to meet with them). From the pricing on http://www.stecklaw.com/2014/11/05/gun-trust-pricing-comparison/ it looks like their top package deal is $550. Even their $350 package says it can have multiple authorized users. My brother wanted to do something with me but as much as I love my brother, I'm not leaving my shit to him, I'm leaving it to my kid. If he were on my trust and something happened to me (really, even if something didn't happen to me), it'd be 100% legal for him to do whatever he wants with my stuff that was intended for my kid. Just something to consider before doing one of these trusts with family and/or especially friends.
Yep I agree with you, but my Dad is the one pushing for the trust and the one buy the class 3 weapons.
Unimog
Eric
- Location
- Stansbury Park, UT
Subscribing. I've been thinking of this for a long while.
Right - I meant transfer in terms of possession, not ownership. As in, person 1 has it one weekend, person 2 another, child gets it without paper work and tax stamps and background checks when parents die, that kind of thing. You are correct about being easier to buy as well, which some liberals want to eliminate as a loophole. I suppose it kinda is, but at the same time how many people are using a trust just to get around a background check that they'd otherwise fail in order to buy class 3 weapons that they later illegally use in a crime?
Ah, yep. Exactly. That's one of the huge benefits, IMO, of doing this.
NYCEGUY01
Well-Known Member
- Location
- Willard, UT
Ive got "enough" NFA stuff to know the process fairly well.
I never did a trust, its all in my name as an individual.
Even without a trust if you die you get a $0 transfer to your heir.
I personally don't have anyone I would want to be in Possession of any on my toys so the biggest benefit of a trust wouldn't really be needed by me.
The main benefit of a trust is E-File. With E-file youre talking 15 weeks instead of 8-10 months on the approvals. At least currently.
My last Form 1 ( SBR ) took 10 months. They say they are getting much faster now, I hope so as Im waiting for another Form 1 currently.
My last 3 Form 4's ( Suppressors ) took about the same. Ill be doing another of each very soon.
Basically I have to be "in control" of my stuff. I let others at the range shoot all my stuff but I am there and " In control ".
At home I am the only one with the safe combo so even when not home I am still " In control" of my items.
Some guys buy another safe just for NFA.
If you do it as an individual and your wife knows the combo of the safe and you aren't home she technically is "in control" of YOUR items and is committing a felony... Make sense ?
With all of the other stuff Ive been doing lately I am also currently awaiting my FFL07 and SOT.
That's gonna make things a bit easier going forward...lol
I never did a trust, its all in my name as an individual.
Even without a trust if you die you get a $0 transfer to your heir.
I personally don't have anyone I would want to be in Possession of any on my toys so the biggest benefit of a trust wouldn't really be needed by me.
The main benefit of a trust is E-File. With E-file youre talking 15 weeks instead of 8-10 months on the approvals. At least currently.
My last Form 1 ( SBR ) took 10 months. They say they are getting much faster now, I hope so as Im waiting for another Form 1 currently.
My last 3 Form 4's ( Suppressors ) took about the same. Ill be doing another of each very soon.
Basically I have to be "in control" of my stuff. I let others at the range shoot all my stuff but I am there and " In control ".
At home I am the only one with the safe combo so even when not home I am still " In control" of my items.
Some guys buy another safe just for NFA.
If you do it as an individual and your wife knows the combo of the safe and you aren't home she technically is "in control" of YOUR items and is committing a felony... Make sense ?
With all of the other stuff Ive been doing lately I am also currently awaiting my FFL07 and SOT.
That's gonna make things a bit easier going forward...lol
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Good info, thanks. Fwiw, I heard form 1 is currently 30-60 days.
NYCEGUY01
Well-Known Member
- Location
- Willard, UT
If youre gonna do a can make sure to start out with a 22lr 1st.
They are by far the biggest bang for the buck.
ALL 223 cans are a bit disappointing..
Also, go to the ATF website now and order all the Form 1 forms and fingerprint cards etc.. They are all free.
They are by far the biggest bang for the buck.
ALL 223 cans are a bit disappointing..
Also, go to the ATF website now and order all the Form 1 forms and fingerprint cards etc.. They are all free.
NYCEGUY01
Well-Known Member
- Location
- Willard, UT
If you want to make the drive up north Ill let you shoot my 7" SBR and my Specwar can, along with the 22's with the Spectre II.
I have a range 10 min from my house.
A SBR is annoyingly loud without the can, Really not fun to shoot, its like getting slapped in the face on every shot without the can.
Then theres the gas...lol Hard on the eyes...
Its a fun novelty but a bit useless, I still love it but there is no practical use for it.
I have a range 10 min from my house.
A SBR is annoyingly loud without the can, Really not fun to shoot, its like getting slapped in the face on every shot without the can.
Then theres the gas...lol Hard on the eyes...
Its a fun novelty but a bit useless, I still love it but there is no practical use for it.
Thanks and good info. Since the 22lr cans are relatively inexpensive, I was likely just going to throw one on anyways. On the 223 can, I've been looking around and I'm pretty sure I'm going to do a 7.62 can that can be used on any rifle smaller. For my SBR, I'm actually going to do a 300 blk out I've decided. After seeing the difference a can makes on that caliber and I've been wanting one for a long time, I decided why not
On the forms, since I'm doing it through a trust, I can do it all electronic and I don't have to get fingerprints, CLEO sign-off, etc. The attorney I'm working with for the trust will actually do all that for me for free.