Suppressors Trust question

[Hogshooter]

I currently own 4 suppressors all purchased with a LE signoff on a Form 4. Recently my son formed a firearms trust to purchase his suppressors. My question is since he lives in another state (SC) and I live in Va., if I purchase another class 3 item can I do it thru his trust if I am on it even though the item will reside in Va. ? I realize that to put existing items on it I would have to pay the $200 tax on each again so I am not going that route on my existing stuff.....thanks

 

[Stalking_Rhino]

If the Trust is in SC then the transactions take place in SC. A trust doesn't give you a state exemption for purchases. You can't purchase wherever you want.

You are a Trustee in the trust and nothing more. Grantor is the one that does the addition or removal to the Trust.

He would have to acquire the item THEN he can send it to you.(as current law allows, but may not be so in the future).

 

[Hogshooter]

Rhino, Thanks for the reply. That's the answer I was hoping for. I was planning on him purchasing but was unsure of being able to store the item in another state. In Va, it is legal to have and shoot suppressed and full auto firearms. I assume that I would just need a copy of the trust and the Form 4 to keep with the item.

 

[Stalking_Rhino]

Rhino, Thanks for the reply. That's the answer I was hoping for. I was planning on him purchasing but was unsure of being able to store the item in another state. In Va, it is legal to have and shoot suppressed and full auto firearms. I assume that I would just need a copy of the trust and the Form 4 to keep with the item.

Yes you would need a copy of the Trust and the Form4, if it is a MG you will run into some issues due to VA MG laws.

Also note that how Trust are handled are under scrutiny and WILL be changing, from the information I have seen it will take away alot of the benefits will be going away.

 

[Hogshooter]

Thanks Rhino, it would be another suppressor or SBR as I do not intend on doing the full auto thing. I was aware of the trust changes possibly coming up. Will have to wait and see what happens.

 

[Stalking_Rhino]

Thanks Rhino, it would be another suppressor or SBR as I do not intend on doing the full auto thing. I was aware of the trust changes possibly coming up. Will have to wait and see what happens.

The changes are just the tip of the iceberg. There is more reform in the works for entity ownership, may be awhile out though.

 

[locolife]

Rhino, at this point they are only "proposed" changes. Nothing is set in stone as yet.

 

[Stalking_Rhino]

Rhino, at this point they are only "proposed" changes. Nothing is set in stone as yet.

I am well aware of this.

 

[herro_prease]

Also note that how Trust are handled are under scrutiny and WILL be changing, from the information I have seen it will take away alot of the benefits will be going away.

Care to share?

 

[Stalking_Rhino]

Care to share?

Read the various threads in this forum and that will fill you in a bit on it. The other information that when is public I will post it here.

 

[herro_prease]

Read the various threads in this forum and that will fill you in a bit on it. The other information that when is public I will post it here.

You made a vague, scary statement about how something is gonna change, and when I ask about it you say to "read the various threads in the forum"? You are aware that Google hasn't re-indexed SH yet, so the ubbthread indices won't help me search?

Not trying to be an asshole, but saying you know something on a gun forum but can't make it public sounds ridiculous. Either you know something or you don't. Fact or speculation. Do you have a Top-Secret link to the Feds that can't be revealed on the interwebs or something? The guy asked a simple trust question - I'm failing to grok how scary talk about something that might happen in the future should affect his situation, or mine.

 

[Stalking_Rhino]

You made a vague, scary statement about how something is gonna change, and when I ask about it you say to "read the various threads in the forum"? You are aware that Google hasn't re-indexed SH yet, so the ubbthread indices won't help me search?

Not trying to be an asshole, but saying you know something on a gun forum but can't make it public sounds ridiculous. Either you know something or you don't. Fact or speculation. Do you have a Top-Secret link to the Feds that can't be revealed on the interwebs or something? The guy asked a simple trust question - I'm failing to grok how scary talk about something that might happen in the future should affect his situation, or mine.

Yes, I do have a source and I thought it would be helpful for people to not be blind sided. I will keep these things to myself.

My apologies.

 

[Sniper Uncle]

Yes, I do have a source and I thought it would be helpful for people to not be blind sided. I will keep these things to myself.

My apologies.

I don't know....there are some people who are grateful for the word that changes are in the works. It gives them a chance to be watching and possibly find them out while still being formed. Easier to raise a storm with the powers that be before the changes take effect or are finalized... Just my thoughts, FWIW. Thanks Rhino for what you can share.

 

[herro_prease]

Yes, I do have a source and I thought it would be helpful for people to not be blind sided. I will keep these things to myself.

My apologies.

In order to not be blind-sided, we need to be armed with knowledge, not fear.

I'll repeat that I wasn't trying to be a jerk about this. We've just finalized a new trust and are about to submit some Form4's, so I'm here for research and understanding purposes only. If you can share something that will save us time, money, or gray hair, I'll be the first to thank you for the information.

 

[stlshooter]

This will likely be the reference to the proposed rule change. http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201210&RIN=1140-AA43

 

[locolife]

You beat me to it, thats the one...

 

[herro_prease]

Thanks for the updates, guys. Taking a look at that now...

 

[mrX]

...opinions from some bottom dwellers...

http://blog.princelaw.com/tag/cleo-cleo-signature-1140-aa43-trust-gun-trust-rulemaking/

http://blog.princelaw.com/2012/07/1...onic-e-form-4-submissions-in-the-near-future/

http://www.guntrustlawyer.com/2012/07/no-cloe-is-efiling-form-4s-for.html

 

[mrX]

can't post links due to low post count...google the phrase below and follow the link after ad...

cleo “cleo signature” 1140-aa43 trust “gun trust” rulemaking