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Trusts and wait times

Posted: Sat Jan 28, 2017 1:24 pm
by bugman
I have decided to dip my toe into the NFA club.
Not interested in any FA stuff just short stuff. 20 gauge Howdah and full stocked Mare's Leg to start.

From what I can tell trusts are the way to go, am I right?

Even after doing a search here I am still confused.

Re: Trusts and wait times

Posted: Sat Jan 28, 2017 1:56 pm
by 870Mike
Trusts have certain benefits, but you'll be too dead to take advantage of them.

The other positive benefit of a trust is if you have multiple persons who wish to "share" the NFA item. Under the new rules, all the other trust members must be photographed/fingerprinted.

Current wait times are 8+/- months.

Re: Trusts and wait times

Posted: Sun Jan 29, 2017 6:22 pm
by bugman
the second part is what I am most interested in.
I have family members that get to shoot more often than I do and would like to be able to let them use my guns when I can't go.
I also have a wife that would sell everything at garage sale prices, and probably at a garage sale, the day after I die.
her understanding of American law is lacking

Re: Trusts and wait times

Posted: Sun Jan 29, 2017 6:40 pm
by Rentprop1
Benefit...being able to share it with other family members who you list as Responsible Persons.

Disadvantage ....every time you buy something EVERY one of those persons has to supply fingerprints and passport photos and fill out a RP form in addition to your F1 or F4...this gets tedious if they are not local.

..... allowing the wife to sell those NFA items at the garage sale, is funny but I'm sure the remaining people on your trust would be rather pissed and possibly share in the liability for that missing item.....who knows ??

Silencer Shop has a trust for $129....super easy and emailed back to you in about 10 min ready to print out...get notorized...and done.

Re: Trusts and wait times

Posted: Sun Jan 29, 2017 6:42 pm
by Jonathanw
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