Suppressor - trust vs individual

[meltingfeather]

I dont see any advantage to buying through a trust. I wont be lending it out to anyone. Wife will only use it when I'm around so no benefit for me.

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Your wife cannot legally possess it without you around, so unless you carry it around with you everywhere you go and never forget it or leave it in the truck, it is highly unlikely that you will avoid a situation where she is in possession. It is also highly unlikely that anything will happen during the time she is in possession that would cause a problem, but do you really want to risk it?
The benefit to YOU is protecting your wife against a potential charge of felony possession of an NFA item.

[Artos]

I don’t see any advantage to buying as an individual unless you’re a childless devout bachelor that doesn’t care to have any friends close enough or significant others that you’d be willing to share your toys with. If that’s the case then you can save a few dollars. Otherwise, a trust is the way to go. For a minimal expense you keep a lot of options open.

Individual generally clears quicker over the trust, which I'm yet to understand exactly why...if you are in a super hurry, you can pay the 2 bones under individual & then another 2 bones to move it to your trust.

...at least that is what someone posted in regards to taking the quickest possession possible of a FA purchase. Nothing I would consider for a few months wait.

[lnester]

Your wife cannot legally possess it without you around, so unless you carry it around with you everywhere you go and never forget it or leave it in the truck, it is highly unlikely that you will avoid a situation where she is in possession. It is also highly unlikely that anything will happen during the time she is in possession that would cause a problem, but do you really want to risk it?
The benefit to YOU is protecting your wife against a potential charge of felony possession of an NFA item.

This. Say you're out of town and your house catches on fire. Firemen and police roll up. In the aftermath, they see your suppressor. Your wife could be charged with a felony.

It's a stupid law, but by the letter of the law, she would be a felon.

Don't take a chance, get the trust.

[Larryf250]

thanks for all the responses. I knew this place was a wealth of knowledge. I think the smart thing is spend the extra funds and go with a trust

[Mike D]

Trust is a one time small fee that allows much more flexibility.

I’ve said it before, dabbling in NFA items is not the time to be a cheap ***.


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[TeamAmerica]

Possession is the main advantage to the trust. Without it, if you leave your gun/suppressor at the camp while you run to town, everyone there is illegally in "possession" of that suppressor. Or if you leave it unlocked at the house with wife and kids, or if they have the ability to open safe where you store the suppressor then it is illegal possession. You can also add and remove people from the trust at any time.

I have a trust and the paperwork is harder now, but still worth it. I would ONLY put people that are close and available when you want one. I have the wife, son, brother and uncle are on the trust. Brother and uncle out of town, so bigger pain to get all paperwork signed.

You can add or remove people from a trust as beneficiaries but a responsible person defined by the Nfa has to be listed on the application. Each responsible person has to have fingerprints and background checks. Not sure if this was clear from your comment.

[TeamAmerica]

And if you leave your nfa item at camp and none of those individuals are listed as responsible persons, the trust is not a free pass. The nfa item still has to be in possession of a responsible person listed on the app.

[Outbreaker]

Individual generally clears quicker over the trust, which I'm yet to understand exactly why...if you are in a super hurry, you can pay the 2 bones under individual & then another 2 bones to move it to your trust.

...at least that is what someone posted in regards to taking the quickest possession possible of a FA purchase. Nothing I would consider for a few months wait.

Now the times are about the same.

[mdnabors]

Individual generally clears quicker over the trust, which I'm yet to understand exactly why...if you are in a super hurry, you can pay the 2 bones under individual & then another 2 bones to move it to your trust.

...at least that is what someone posted in regards to taking the quickest possession possible of a FA purchase. Nothing I would consider for a few months wait.

Is this correct in that someone can change from Individual to a Trust down the road when it makes more sense (kids getting old enough to handle gun, etc...) and it cost ~$200 to make the switch and add people?

[hunt247]

This is not true anymore. It used to be the case. Now all you have to do is inform Leo offices. No CLEO sign off anymore.

The only real advantage to the trust is having multiple people that can use it.

I bought mine as an individual.

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This and be able to pass it on after your gone.

[meltingfeather]

I dont see any advantage to buying through a trust. I wont be lending it out to anyone. Wife will only use it when I'm around so no benefit for me.

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What is your wife supposed to do if you die? Do you also not have life insurance because it's not a benefit to you?

[meltingfeather]

You can add or remove people from a trust as beneficiaries but a responsible person defined by the Nfa has to be listed on the application. Each responsible person has to have fingerprints and background checks. Not sure if this was clear from your comment.

Only at the time the application is made.
You do not have to fingerprint someone to add them to the trust after the Form 4 is in hand.

[meltingfeather]

And if you leave your nfa item at camp and none of those individuals are listed as responsible persons, the trust is not a free pass. The nfa item still has to be in possession of a responsible person listed on the app.

this is incorrect.
only responsible persons at the time of the application need to be fingerprinted and checked.
If you add all your camp buddies by trust amendment after you have the Form 4 they are able to legally possess any property of the trust.
These areas are where a good, competent lawyer is worth what you pay them.

[duckmanep]

Is this correct in that someone can change from Individual to a Trust down the road when it makes more sense (kids getting old enough to handle gun, etc...) and it cost ~$200 to make the switch and add people?

Yes you could F4 it from an individual to a Trust. F4 = $200

[Throwin Darts]

this is incorrect.
only responsible persons at the time of the application need to be fingerprinted and checked.
If you add all your camp buddies by trust amendment after you have the Form 4 they are able to legally possess any property of the trust.
These areas are where a good, competent lawyer is worth what you pay them.

This is how I understand it too.

It seems to me that the best way to go is to set up a trust with only yourself listed as the responsible person. That means only you personally have to be fingerprinted and go through the process of being approved by the ATF.

Once you complete that process, then you add other individuals as responsible persons on the trust. Doing so means that you don't have to coordinate with them getting fingerprinted for the application purpose.

Am I understanding this correctly?

I have a Dead Air Sandman in jail right now. Can't wait to get my hands on it.