Since 41F, is there still value in an NFA Trust?

[Candyman87]

Back before implementation of 41F, the NFA Trust was a no-brainer. Now, I'm getting mixed signals from people.

Now that we bought our house, I'm confident that we will be in free America for the foreseeable future. I waited on getting into NFA firearms/suppressors until I was 100% sure that we wouldn't be moving back to New Jersey where suppressors and SBR's are specifically illegal.

I'm starting to do my research. I'm envisioning getting a can for my 9mm Glocks first and foremost, and then I'll probably send away a Form 1 to SBR one of my stripped Bushmaster lowers. Eventually, I'll add a 5.56mm suppressor, and a 7.62mm suppressor.

That being said, is it still in my best interest to establish a gun trust? I don't want my girlfriend (with whom I purchased this house and will marry in the next few years) to run into any legal hassle since she'd technically have access to them, while I'm away on business.

I'd likely establish the trust right away with just myself and add her later down the road.

That being said, since implementation of the revised rules in June 2016, is an NFA trust still the clear winner? Or should I apply as an individual? I'd prefer to not have to pay double tax stamps should I have to transfer ownership to a trust later for estate planning purposes, or simply slap my real name on an SBR'ed lower.

So, NFA guys, if you were to do it all over again. With current NFA regulations, if you were buying your first suppressor now for your G17, would you opt for an NFA trust? Or would you apply as an individual? And why?

[djeuch]

Here's how I look at it. While I'm still in "acquisition" mode, it's neither easier nor harder to go the trust route, but once I think I'm done (or mostly done), I plan on doing the official paperwork to add my wife to my trust. Once that's done, she'll need to come along for any future purchase, but all my existing "trust" items will be fully available to her.

Ultimately inheritance also counts in this. For me, continued use of a trust makes sense.

[Kramer]

When I first started to go NFA I went the LLC/Corp route since there was a CLEO issue back then and the Trust route was muddy back then.

Now with two dozen stamps I am trying to decide if I should continue with the LLC route or just do individual transfer.

[Candyman87]

Here's how I look at it. While I'm still in "acquisition" mode, it's neither easier nor harder to go the trust route, but once I think I'm done (or mostly done), I plan on doing the official paperwork to add my wife to my trust. Once that's done, she'll need to come along for any future purchase, but all my existing "trust" items will be fully available to her.

Ultimately inheritance also counts in this. For me, continued use of a trust makes sense.

That's kind of the way I'm leaning as well. Do everything in a trust for the time being with only myself named on the trust. This way, the girlfriend can be added when she becomes the wife.

[Candyman87]

When I first started to go NFA I went the LLC/Corp route since there was a CLEO issue back then and the Trust route was muddy back then.

Now with two dozen stamps I am trying to decide if I should continue with the LLC route or just do individual transfer.

With the trust route being less muddy now, would you still go the LLC route?

[ExFlyinguy]

I have 3 cans & a SBR all on a trust. If our current regs (41F) had existed when I started, I do not believe that I would have opted to use a trust.

Obviously not everybody will have the same situation.

CLEO sign off wasn't an issue for me, but fingerprinting & photographs each time I wanted to buy something was a burden I wished to avoid. Aside from myself, I have 3 other family members across 2 states named as trustees. Now I would have to have them all fingerprinted & photographed. It's now even more of a burden for me.

If you buy as an individual the items can still transfer tax free at the time of your passing to your heir (at least that's my understanding. I'm not a lawyer).

[esh21167]

Access to NFA items by all trustees. Makes sense to me to have my wife and children (over 18) as trustees. If they want, they can use NFA items. Or pull them out of the house in case of a fire/flood

[Candyman87]

I have 3 cans & a SBR all on a trust. If our current regs (41F) had existed when I started, I do not believe that I would have opted to use a trust.

Obviously not everybody will have the same situation.

CLEO sign off wasn't an issue for me, but fingerprinting & photographs each time I wanted to buy something was a burden I wished to avoid. Aside from myself, I have 3 other family members across 2 states named as trustees. Now I would have to have them all fingerprinted & photographed. It's now even more of a burden for me.

If you buy as an individual the items can still transfer tax free at the time of your passing to your heir (at least that's my understanding. I'm not a lawyer).

Interesting. That's what I was afraid of. However, family members across two states are the difference between you and I. All mine are local.

[Michael Black 47]

I currently use a trust for my business transactions involving the NFA. With a trust you can also not only allow others to use your device that are trustees. But in the case of the new regulations by the ATF. You can remove the trustees from the trust and submit your paperwork by yourself. From there you would wait until your stamp is approved then write them all back into the trust. This makes life a bit easier in the new era of post 41f