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Rifles, Reloading, Optics, Equipment
Suppressors
Suppressor purchasing process advice
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<blockquote data-quote="Munch" data-source="post: 2745158" data-attributes="member: 36823"><p>I would submit, the ease in using a trust is directly related to the lawyer writing the trust and its exact wording.</p><p></p><p>For the most part, the NFA trust route was initially setup to allow citizens to own NFA devices in states that specifically denied individual ownership. Hence, a trust was used to hold the devices generally for the use by one person, the owner/trustee.</p><p></p><p>NFA rules regarding trusts and NFA devices changed under the Obama Administration.</p><p></p><p>Indeed, if you want your trust to share NFA devices with "responsible individuals", the process becomes very technical and requires all named individuals to comply with the regulations within the specified time frame.</p><p></p><p>There is a major difference between "responsible individuals" and "beneficiaries" named in a trust.</p><p></p><p>Personally, I do not loan out my non-NFA firearms to family members unless I'm present during their use. The legal ramifications today are mind bending, even more so in anti-gun jurisdictions. As trustee, I certainly cannot envision allowing "responsible individuals" to use my trust's NFA devices I spent serious coin purchasing. But I'm good with each one of us making their own determination regarding such use.</p><p></p><p>Designating named, multiple responsible individuals in the trust allows those individuals to use the NFA devices held by a trust without the trustee present. Naming "responsible individuals" was not a major consideration or an original intent of an NFA trust. However, if you are the trustee and do not list any "responsible individuals" in your trust, only beneficiaries, the trust route is very easy in my opinion. The trust allows for you (trustee) to state how the assets of the trust are distributed in the event of your death. Without such a document in place and in the event of your death, the distribution of your NFA devices is very complex and burdensome for the executor of your estate. None of us thinks much about dying, but none of us are guaranteed to see tomorrow's sunrise. Why not make things as easy as possible for our family and friends who have an interest in owning some of our assets.</p><p></p><p>Personally, I think the trust allows for far more flexibility than individual ownership.</p></blockquote><p></p>
[QUOTE="Munch, post: 2745158, member: 36823"] I would submit, the ease in using a trust is directly related to the lawyer writing the trust and its exact wording. For the most part, the NFA trust route was initially setup to allow citizens to own NFA devices in states that specifically denied individual ownership. Hence, a trust was used to hold the devices generally for the use by one person, the owner/trustee. NFA rules regarding trusts and NFA devices changed under the Obama Administration. Indeed, if you want your trust to share NFA devices with "responsible individuals", the process becomes very technical and requires all named individuals to comply with the regulations within the specified time frame. There is a major difference between "responsible individuals" and "beneficiaries" named in a trust. Personally, I do not loan out my non-NFA firearms to family members unless I'm present during their use. The legal ramifications today are mind bending, even more so in anti-gun jurisdictions. As trustee, I certainly cannot envision allowing "responsible individuals" to use my trust's NFA devices I spent serious coin purchasing. But I'm good with each one of us making their own determination regarding such use. Designating named, multiple responsible individuals in the trust allows those individuals to use the NFA devices held by a trust without the trustee present. Naming "responsible individuals" was not a major consideration or an original intent of an NFA trust. However, if you are the trustee and do not list any "responsible individuals" in your trust, only beneficiaries, the trust route is very easy in my opinion. The trust allows for you (trustee) to state how the assets of the trust are distributed in the event of your death. Without such a document in place and in the event of your death, the distribution of your NFA devices is very complex and burdensome for the executor of your estate. None of us thinks much about dying, but none of us are guaranteed to see tomorrow's sunrise. Why not make things as easy as possible for our family and friends who have an interest in owning some of our assets. Personally, I think the trust allows for far more flexibility than individual ownership. [/QUOTE]
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