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I have an NFA/HeavyD trust set up for my 2 suppressors purchased prior to 41F. I am the primary trustee and my wife and daughter are co-trustees.

In reading the 41F update on NFA Lawyers' website, it is my understanding that additional items can be purchased with just my photo/fingerprints IF I temporarily amend the trust to take my wife and daughter off. The amendment can be shredded/voided once the acquisition is complete.

I'm assuming that they cannot be in direct possession of the old suppressors without my presence during that 6-9 month period. Is that correct?

Thanks
 
Posts: 6247 | Location: The Red part of Minnesota | Registered: October 06, 2002Report This Post
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Yes. They are no longer cotrustees so they cannot possess anything in your trust without you present.
 
Posts: 978 | Location: County 18, OH | Registered: April 11, 2007Report This Post
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I could be wrong but it was my understanding that you just trash the new copy of the trust after it's sent in for the new purchases and revert to the old trust instantly, making it to where anyone on the original can still possess items owned by the trust even while the new items are in process.

Again, that's just my understanding but it seems to make sense.


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Posts: 1542 | Location: Houston,Tx | Registered: May 18, 2003Report This Post
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quote:
Originally posted by Twist:
I could be wrong but it was my understanding that you just trash the new copy of the trust after it's sent in for the new purchases and revert to the old trust instantly, making it to where anyone on the original can still possess items owned by the trust even while the new items are in process.

Again, that's just my understanding but it seems to make sense.


Maybe HeavyD will clarify for us, but I read it as destroy it AFTER the new stamp is approved.
 
Posts: 6247 | Location: The Red part of Minnesota | Registered: October 06, 2002Report This Post
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quote:
Originally posted by MNSIG:
quote:
Originally posted by Twist:
I could be wrong but it was my understanding that you just trash the new copy of the trust after it's sent in for the new purchases and revert to the old trust instantly, making it to where anyone on the original can still possess items owned by the trust even while the new items are in process.

Again, that's just my understanding but it seems to make sense.


Maybe HeavyD will clarify for us, but I read it as destroy it AFTER the new stamp is approved.


Oh I understand totally and I know that method to be legal.

After talking to a few others who deal with this, they seem to believe that what I relayed earlier is doable as there is no real time record of your trust except for the copy you have on hand. Possibly a grey are there, again that's why I stated that I could be wrong.

Another possible option, keep both copies while new items are pending?


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Posts: 1542 | Location: Houston,Tx | Registered: May 18, 2003Report This Post
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Why not avoid all of the fuckery and just get the co-trustees printed? Have 20 cards done if you want them for future purchases. Cheaper probably than the amendment and there's no goofiness.
 
Posts: 1943 | Location: Iowa | Registered: February 24, 2011Report This Post
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Originally posted by DaBigBR:
Why not avoid all of the fuckery and just get the co-trustees printed? Have 20 cards done if you want them for future purchases. Cheaper probably than the amendment and there's no goofiness.


There is no cost to doing the amendment and one of my trustees is away at college.
 
Posts: 6247 | Location: The Red part of Minnesota | Registered: October 06, 2002Report This Post
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In the same boat.
Guy at the shop says just buy it as an individual, but then that can can never be used by your other trustees. That looks like a disaster down the road.

I'm just going to do the amendment thing and tear it up after receipt. Shop guy also speculated that after ATF is done with the glut that was submitted in July, it will go back down to the 6 month wait.
 
Posts: 1065 | Location: AZ | Registered: December 10, 2003Report This Post
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quote:
Originally posted by mike56:
In the same boat.
Guy at the shop says just buy it as an individual, but then that can can never be used by your other trustees. That looks like a disaster down the road.

I'm just going to do the amendment thing and tear it up after receipt. Shop guy also speculated that after ATF is done with the glut that was submitted in July, it will go back down to the 6 month wait.


I think this line of thinking is a fallacy. Wait times for trust submissions will be as long as individual submissions because of the fingerprint check.
 
Posts: 1943 | Location: Iowa | Registered: February 24, 2011Report This Post
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