I have 3 cans that were purchased on Leo Sign-offs.I want to know about getting them on trusts for the freedom of family use,is this possible without 600more in tax stamps?
Suppressors Transferring to myself
- Thread starter Jon Lester
- Start date
Re: Transferring to myself
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Jon Lester</div><div class="ubbcode-body">is this possible without 600more in tax stamps? </div></div>
No...
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Jon Lester</div><div class="ubbcode-body">is this possible without 600more in tax stamps? </div></div>
No...
Re: Transferring to myself
That's one more reason to get my trust done before I but another can. I was under the impression you could add currently owned cans to your trust.......
That's one more reason to get my trust done before I but another can. I was under the impression you could add currently owned cans to your trust.......
Re: Transferring to myself
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Pflyinguy</div><div class="ubbcode-body"> I was under the impression you could add currently owned cans to your trust....... </div></div>
For $200 each you can. Stamps are stamps. Once a stamp is issued(cancelled) it's not transferrable. It's as simple as trying to mail a letter with a previously cancelled postage stamp.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Pflyinguy</div><div class="ubbcode-body"> I was under the impression you could add currently owned cans to your trust....... </div></div>
For $200 each you can. Stamps are stamps. Once a stamp is issued(cancelled) it's not transferrable. It's as simple as trying to mail a letter with a previously cancelled postage stamp.
Re: Transferring to myself
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Jon Lester</div><div class="ubbcode-body">This was a major fail going with the sign off, live and learn!</div></div>
Jon, you know that this is all the reason you need to buy a couple more cans "For the kids"...
All kidding aside, I applaud the way you have nurtured & encouraged your kids shooting over the years.
Your son's shooting ability is evidence enough of your success.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Jon Lester</div><div class="ubbcode-body">This was a major fail going with the sign off, live and learn!</div></div>
Jon, you know that this is all the reason you need to buy a couple more cans "For the kids"...
All kidding aside, I applaud the way you have nurtured & encouraged your kids shooting over the years.
Your son's shooting ability is evidence enough of your success.
Re: Transferring to myself
I'm looking at this same thing with 2 cans. The upside that I see is the wait time for the Form 4 does not matter as I can be using them while I wait.
I'm looking at this same thing with 2 cans. The upside that I see is the wait time for the Form 4 does not matter as I can be using them while I wait.
Re: Transferring to myself
Rolling Thunder they are 6, 18 and 20 and all are shooters.
Dr Phil, Thank you! He and his older Sister are hard holders.
Rolling Thunder they are 6, 18 and 20 and all are shooters.
Dr Phil, Thank you! He and his older Sister are hard holders.
Re: Transferring to myself
Thanks, I (like a bunch of folks) are in a similar situation with either direct paper or a mixture of both.
You are actually in fine shape in the long run as you can "will" your cans to whomever you would wish. As to the minors, your trust would not be allowing access to them anyway and your senior(s) can use them in your presence.
The BATF has had two ruling recently on Trust structure that in a close reading suggests things are getting much tighter in regard to Trusts. I personally think the jury is still out on them as being as powerful a deterrent from seizure or contest as direct paper in some situations in some states.
Thanks, I (like a bunch of folks) are in a similar situation with either direct paper or a mixture of both.
You are actually in fine shape in the long run as you can "will" your cans to whomever you would wish. As to the minors, your trust would not be allowing access to them anyway and your senior(s) can use them in your presence.
The BATF has had two ruling recently on Trust structure that in a close reading suggests things are getting much tighter in regard to Trusts. I personally think the jury is still out on them as being as powerful a deterrent from seizure or contest as direct paper in some situations in some states.
Re: Transferring to myself
For those of us that live in areas in which LEO wont sign off.... we only have the option of obtaining them on a trust.
When the do away with LEO sign off I will put items in my own name.
For those of us that live in areas in which LEO wont sign off.... we only have the option of obtaining them on a trust.
When the do away with LEO sign off I will put items in my own name.
