Trusts in the post-41F World

[Solaran_X]

Since 41F is going to become a reality in just a few days, I have a question regarding trusts.

What is the minimum number of trustees required under state law in a trust?

Am I able to have myself on the trust as the only trustee and have other people on the trust in non-managerial roles (such as beneficiaries)?

[arjohnson]

Since 41F is going to become a reality in just a few days, I have a question regarding trusts.

What is the minimum number of trustees required under state law in a trust?

Am I able to have myself on the trust as the only trustee and have other people on the trust in non-managerial roles (such as beneficiaries)?

Probably easier to go individual once the new rules kick in, it's what I'll do. Really see no need for a trust unless you want others to be able to poses the items.

[Solaran_X]

Probably easier to go individual once the new rules kick in, it's what I'll do. Really see no need for a trust unless you want others to be able to poses the items.

That is the eventual goal. To simply transfer of these firearms and suppressors once I eventually die. Especially if PA goes full potato like NY and bans the transfer of "assault weapons." A trust would get around that transfer.

[NathanB]

Silencer shop just crushed he 41f stuff. Still easier to do it as a trust now

[danhr]

Silencer shop just crushed he 41f stuff. Still easier to do it as a trust now

Nailed it. My FFL dealer (who is a silencershop dealer) already got their finger print reader in.

Trusts still give you more options. Go trust IMO.

[arjohnson]

That is the eventual goal. To simply transfer of these firearms and suppressors once I eventually die. Especially if PA goes full potato like NY and bans the transfer of "assault weapons." A trust would get around that transfer.

I still beleive the items get one free transfer, not 100% sure but when a friend of mine died his son got all his NFA items transferred to him.

[Nate7667]

Correct, the heir still get the items tax free on a form 5.

As for the future, I see them slowly fading. They will deff still be there for multiple person access, but so many people are pumping forms in the system because they don't want to prints or the other parties don't want to submitt them. To each there own. Rules sucks but those are the new rules.
Ive said it before, this opens NFA to a new group due to CLEO signature removal. Going to to be interesting on how much the back log changes once the ATF are caught up next year

[NathanB]

Next year? The way they are going it's going to be longer than that. I still don't know why they don't automate it.

[JoshIronshaft]

I got an Amendment from 199 trust that I signed and attached to my trust. It clarifies that I am the only one on the trust that needs printed when submitting.

I've also heard rumor that when not submitting a form, you can add people to the trust, then remove them when it' time to submit a form, and then add them back on. I have no idea if that is true or not.

[MJH]

That is the eventual goal. To simply transfer of these firearms and suppressors once I eventually die. Especially if PA goes full potato like NY and bans the transfer of "assault weapons." A trust would get around that transfer.

While I think for now that we are very different than NY/CA, and I hope we never have to deal with 10% of the shit laws in those states, the bold is what has me (re)thinking the idea of a trust.