Suppressors Continuing using trust or submit individual?

[big_matt_duq]

I have two suppressor on my trust from before the changes. My wife is on the trust and my young daughter is a beneficiary. Seems like there it is more of a hassle to use a trust since the changes took place. My wife doesn't shoot rifles and I do not see that changing. I have a can getting transferred to my dealer and am leaning towards just doing an individual form 4. Which way would you guys submit? Any real benefit to the trust route any more? Other option is to amend my trust and take her off for the time being I guess.
Thanks in advance,
Matt

 

[ken4570tc in WY]

I have two suppressor on my trust from before the changes. My wife is on the trust and my young daughter is a beneficiary. Seems like there it is more of a hassle to use a trust since the changes took place. My wife doesn't shoot rifles and I do not see that changing. I have a can getting transferred to my dealer and am leaning towards just doing an individual form 4. Which way would you guys submit? Any real benefit to the trust route any more? Other option is to amend my trust and take her off for the time being I guess.
Thanks in advance,
Matt

Good questions!!! With the new changes, I was wondering if a trust is worth the B.S?

 

[ForgeValley]

Tagging in. Was talking to a guy the other day that has something like a dozen suppressors, and he did most of them as an individual. I know nothing about the process, but am planning on picking one up so timely topic for me.

 

[awpk03s]

If your wife will be able to in any way have access to the new can (knows safe combo, etc) then a trust will still be cleaner and remove any of that liability. It also makes estate issues easier if something happens to you.

That’s always what I understand about it.

 

[spife7980]

Just take your wife with you to walgreens to get your passport picture and to where ever to get your fingerprints and fill out one other responsible person form. Its not that much hassle when it comes down to it. Its much less hassle than her having to do it again later when you die and she gets left the burden by herself.

 

[pkt1199]

I still like the trust as it protects your family and the equipment if something happens to you.

Additionally, I'm not sure how it's received here but for 20 or 25 bucks the one shot from silencer shop is a breeze. My understanding being you can add names after approved, you know in case you forgot someone or something...

 

[Steelhead]

Have Form 5's ready for the assigned executor to fill out and send in, if you go with individual, to transfer to you heirs. The ATF has the option of locking them up themselves, or having them transfered to a SOT, until Form 5 is returned. That's my understanding.

 

[Kadams1563]

Just stay with trust if you even want to give the NFA items to someone or allow them access.

Yes the waits are longer but in the end it will be worth it.

I am the only person in my trust but I still use one for the future.

 

[mercracing]

I will keep using a trust. Eventually I’m gonna die and I want someone to enjoy my toys even when I’m gone. A lot easier this way and I don’t have to pay to transfer them from myself to my trust.

 

[big_matt_duq]

I guess Ii will stick with the trust. I know it is the smarter move long term and I wouldn't be terribly crushed if I have to wait until mid-late summer for it. Just hope it is less than 8 months. Thanks for the help everyone.

 

[HTX_17]

Couldn’t you do it individually then transfer to the trust after you receive?

 

[mercracing]

Couldn’t you do it individually then transfer to the trust after you receive?

You sure can, for 200$

 

[Holliday]

Couldn’t you do it individually then transfer to the trust after you receive?

Doing that with one of my cans now. It was my first one and i did not have a trust set up at the time. Another $200 and the paperwork ....If you want your cans quicker, then the extra money and forms might be worth it.

 

[HTX_17]

Don’t get me wrong, $200 is pricey BUT with the spread in approval times being what it is-kinda makes sense.

 

[Gtscotty]

Couldn’t you do it individually then transfer to the trust after you receive?

That was kind of my thought when I did my last F4 as an individual. My first can was bought as an individual, second as a trust, when it came time for the third, trust applications we're running about double the approval time of individual applications. My wife has no interest in guns or cans, my oldest son was 19 years away from being able to be added as a trustee, with the 41F changes I just didn't feel i'd really be getting anything for all the extra wait time, so I did the individual F4 and got my stamp back 150 days later. When my sons get older, if I want to leave my old shabby suppressors to them, I can always pay the $200 tax and transfer them to the trust, the wait time will pass while they are in my possession, and what will $200 really be worth in 20 years anyway? It would be different if we were talking about something with significant resale value like a machine gun. Of course, individual waits have gone up and trust waits have gone down since then, so that probably isn't a factor anymore

 

[Darkside-Six]

Correct me if I’m wrong, but transferring to the trust after you’ve purchased it as an individual requires anouther $200 or whatever that fea would be.

I just sent out for 5 stamps in June. First ones after 41P and I have my wife as a trustee and 12 yr old son as beneficiary. It wasn’t too much hassle, just more paperwork but gives me peace of mind knowing if anything happens to me that it won’t be a PIA for her. She also does shoot a little.

Also, I look at it like this, my brother in law is an avid shooter so if I ever wanted him to be able to use any of my items without me having to be there then I could just make an amendment to the trust and ad him.

I hear many people have made an amendment removing their spouse so they are the only responsible person and then adding them back after. Not sure how that is working but it’s an option.

 

[Strykervet]

I use a trust and even after the divorce and having to have it restated, I still use it. Having one grantor can save you a lot of hassle, so if your wife is a grantor, I'd go to the attorney that did the trust and have him or her restate it or otherwise remove the wife as grantor. You only need one grantor, yourself. If daughter is beneficiary upon death, no need for prints or photos. If she's a responsible person and can use the items, you need to remove her temporarily or get her prints and pictures. If wife is still a trustee, I'd take her with and get her prints and pictures. it's no harder really to fill out and submit with her included. But I bet multiple pictures and prints slows things down, but two can't be that bad.

And the trust just offers a lot more flexibility and use than does private ownership. If you have one, a good one, use it. You still have items on it already, keep 'em under one roof.

That's my .02 in a nutshell anyway.

 

[stevenc23]

Don’t get me wrong, $200 is pricey BUT with the spread in approval times being what it is-kinda makes sense.

Currently No difference in approval time for Form 4s

 

[TanktheFrank]

I have one can, individual, and I'm seriously considering setting up a trust and transferring it and any future nfa items. Looking at doing an sbr or two in the next few months, as well as another can. I trust my s/o, Dad, and my hunting partner enough to enable them possession. Same from my hunting partner. No kids, not married.

 

[Charger442]

i have 12-15 items on a trust and will be still using it, but i havent jumped back in after 41F screwed everyone. i am looking for a couple more in the next few months. The new regs led me to remove my Dad and brother as trustees and now its just me and my wife and my daughter is the beneficiary.

i ordered the ATF fingerprint cards a couple months ago to just have, but i havent filled out the paperwork or gotten my wife/myself printed. Everyone justifies it as its not big of a deal, but compared to before, its a huge pain in the ass. Time off to get passport photos, time to go together to get fingerprinted and then its got to be repeated every two years? i used to could impulse buy cans and just make sure i had the latest schedule A updated on a copy of my trust.

 

[AZIROC]

I have a trust and went to town pre-41P so I've been fine for now. that being said ive been looking at 1-2 suppressors and adding a few more sbr lowers lately.

I've been debating going individual as well but in the end I'll keep the trust going and just do it all at once.

 

[awpk03s]

...Time off to get passport photos, time to go together to get fingerprinted and then its got to be repeated every two years? i used to could impulse buy cans and just make sure i had the latest schedule A updated on a copy of my trust.

Why do you have to repeat prints/pics every 2 years?

I hadn’t heard that before...?

 

[Charger442]

It's if you haven't had an approval within the last two years, then you have to resubmit them. If you buy one every 23 months, shouldn't have to resubmit.

 

[awpk03s]

Thanks... but if you’re done buying, you don’t need to resubmit on any frequency, right?

 

[Charger442]

You would have to resubmit for the next can/sbr/mg/DD you buy.


Trust me, you're really never done.

 

[deltawiskey]

Thanks... but if you’re done buying, you don’t need to resubmit on any frequency, right?

Correct.