Class III Trust...

[Quiet Riot Firearms]

What makes it an SBR lower? They are all the same, except for the engraving. Aren't they?

The manufacturer fills out a form 2 noting that particular serial number is an SBR. No extra engraving needed like you would on a form 1.

 

[ugagrad04]

What makes it an SBR lower? They are all the same, except for the engraving. Aren't they?

Where can you purchase these around Metro Atlanta? I want to put together a SBR in 9 MM next.

Trading Place Pawn Monroe, GA

 

[ugagrad04]

What makes it an SBR lower? They are all the same, except for the engraving. Aren't they?

Where can you purchase these around Metro Atlanta? I want to put together a SBR in 9 MM next.

Trading Place Pawn Monroe, GA $89.99 stripped or $199.99 complete

 

[H4zY]

Not sure if anyone else was aware of this; I just found out myself the other day!

It's strongly recommend purchasing any NFA restricted items in a bank account owned by
the trust to avoid the potential allegations that the paperwork that gets approved does not comply
with the actual transaction. Although it is possible to properly document the purchase of these items
without a separate trust bank account, the risk of the potential exposure to criminal charges is
increased significantly unless a bank account is used.

Most individuals, businesses, and Trusts do not make the purchase correctly and therefore
subject themselves to unnecessary violations of the NFA. Although the chance of being arrested is
slight, the proper purchase of items when using a Form 4 is so simple that it is an unnecessary risk.
You never know when an ex spouse, business partner, angry neighbor, or law enforcement officer
will choose to report your improper purchase of the firearms to the ATF in an effort to subject you,
your family, and friends to the penalties associated with an illegal weapon, improper purchase,
improper possession, and improper transfer of items restricted by the NFA. In addition, should
someone ever want to remove many of the NFA firearms from the public, what better way than to
declare many of them illegal and confiscate and destroy them as required under the NFA.
Remember, once an item is illegal it cannot be made legal.

When you purchase a Title II firearm with the use of personal funds or a personal credit card,
you create a series of transactions that creates multiple violations of the NFA. Most trust purchases
receive approval from the ATF to allow the dealer or transfer agent to transfer the items to the
named trust. The technical violations occur when the dealer does not transfer the items to the trust
but sells them to the individual, and the individual transfers the items to the trust. Neither of these
transactions have been approved by the ATF and are therefore improper.

What if I already purchased the Items?

If you have already purchased the items (that will be transferred with a Form 4) with personal
funds or a credit card, you should prepare a letter to attach to your trust which states that you
contributed $____ to the TRUST by paying ____________(the seller) for the
__________(the item(s) you purchased) through _________(method of payment). This document
needs to be signed by a trustee showing the acceptance of the benefit to the trust as well as the
contributor of the funds to the trust. This letter should be attached to the trust and submitted to the
ATF when you send in your documents for approval. You should also keep a copy of this letter with
your original trust for future documentation and proof.

 

[jkdailey]

Couple Qs regarding a trust and adding items...bear with me, this might be a little confusing.

I have 2 Suppressor approved on separate form 4s. I am about to buy another suppressor and eventually build a SBR. I think it is time to start a trust for this upcoming suppressor purchase, so I can then add the SBR and possible the two other currently approved items.

Q1. What is the best and easiest route for the trust. I have read through several of these threads and I am still confused.

Q2. Will I have to pay another $200 per suppressor to add them to the trust once it is approved? I am referring specifically to the 2 that are already on approved form 4s.

Q3. Is it worth getting the other two on the trust and is there a better way to go about this? My goal is to relieve the burden on my family in case something happens to me.

Thanks and PM if you need clarification before you can elaborate.

Thanks,
Jason

 

[No2sc2]

Couple Qs regarding a trust and adding items...bear with me, this might be a little confusing.

I have 2 Suppressor approved on separate form 4s. I am about to buy another suppressor and eventually build a SBR. I think it is time to start a trust for this upcoming suppressor purchase, so I can then add the SBR and possible the two other currently approved items.

Q1. What is the best and easiest route for the trust. I have read through several of these threads and I am still confused.

Q2. Will I have to pay another $200 per suppressor to add them to the trust once it is approved? I am referring specifically to the 2 that are already on approved form 4s.

Q3. Is it worth getting the other two on the trust and is there a better way to go about this? My goal is to relieve the burden on my family in case something happens to me.

Thanks and PM if you need clarification before you can elaborate.

Thanks,
Jason

I'll try to answer what I know.

1. Have a lawyer write it up or use Quicken program to write one up. Theres a couple lawyers in this forum that can write up one for $100 or less. Quiet Riot Firearms is a user on this forum, he has a lawyer you can contact or

King’s Law Office
1750 Powder Springs Road
Suite 190, PMB 315
Marietta, GA 30064

(404) 790 - 7345
trusts@kingslawoffice.com

2. I don't know, I do know Form 5 is the tax exemption for transfer. Its used for lawful heir, unserviceable, or LE and other reasons thats approved by NFA branch.

3. If they are on Individual, yeah it would be less headache if you have someone to pass it down to. If you just don't care about the item and they mean nothing to you, leave it as Individual and when you kick the bucket, advise the ATF that you do not want own those anymore, they will be glad to come and pick it up. Trust is good if you want more than yourself to have possession of NFA items. If you die and the items not on the Trust, your family can leave it where its last left by you and contact ATF and they will come pick it up, no problems.

 

[azb]

Whether or not your items are owned by a trust, the ATF allows for a tax free transfer upon your death to a beneficiary. Read the BATFE site for more info.

As far as moving your currently owned items to the trust, you will have to pay the $200 tax for each item.There is no legal way around this.

Az

 

[jkdailey]

Thanks for the input guys. J