Nfa trust

[GUNBRAND.COM]

Morning all, I was on silencer shop site looking at trust/ individual holdings. Looks like the trust gives you the most flexibility. How have y’all setup your nfa holdings? Any suggestions? Looks like they make it pretty easy and only $125. Any and all comments are welcome. please share some ODT can knowledge. Thanks in advance!

 

[rockyfatcat]

Who is the best attorney around firearms law?

Not sure if location matters, I’m in west cobb. Who is a good attorney around firearms law/Nfa?

www.theoutdoorstrader.com

 

[10-8 Gunworks]

I used the single shot trust from Silencer Shop for my last 2 cans. Eformed in May and picked one of them up yesterday. We'll see how easy it is to amend the trust now.

 

[BHPSteel]

The trust does give you some flexibility, but recent (last couple of years) have made it less useful than it was, and especially for the first-time buyer, there are a few drawbacks with conventional trusts.

1. Processing time - it may not be the case for SilencerShop "Single Shot" trusts, but in general, if you make a purchase via a trust, you can expect processing to take longer than an individual tax stamp. Even with new e-filing, it may be a lot longer.
2. If you want to share usage of a can - trust is the way to go - but you have to make sure that your list of trustees is maintained - and more importantly - submitted - when you make the application for another NFA item. Every trustee will be potentially subject to a background check by the FBI (which is one of the main reasons for the increase in processing time) Some of the trustees you appoint may not know, or like the idea of having those checks done.

If you plan to buy a number of NFA devices in the future, a conventional trust may be a better way to go, because all items can go in the same trust and so administration is easier.