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Question about creating NFA Gun Trust and Transferring Individual NFA Registered Item to that same Trust Login/Join 
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I need your help please. I am several NFA Items that are registered as Individual NFA items. I want to create a NFA Trust (to include my wife and son as beneficiaries). I have no clue how the NFA TRUST work and how to get started. So please help me out with these questions.

1. How to get started with the NFA Trust? (I came across couple of on-line places that will assist in setting this up). Are those on-line places reliable? Or better to get a local lawyer to set it up? How much do they cost?

2. When creating a NFA Trust (for the first time), can I only register 1 SBR or Suppressor for the FIRST transaction? Or can I apply/register 3 SBRs at the same time when creating the Initial NFA Trust?

3. Do you have to pay $200 fee for EACH item to be registered on the TRUST?

4. How do you add a NEW item to the TRUST?

4. Lastly, How can I add the SBRs and Suppressors that are currently registered in my name as INDIVIDUAL, on to the NFA Trust? Do I need to pay a New Fee? Do I need to re-engrave the SBRs with the NFA Trust Information?


Sorry for asking too many questions. Just want to create a NFA Trust due to health reasons. I want to take care of this now, as supposed to have my wife and son deal with this later.

Thanks for your time.

(I want to do this for couple of NEW SBRs that I want to register. Might as well start the TRUST now, then start adding/transferring the existing ones later).


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Posts: 1995 | Location: Las Vegas | Registered: November 05, 2003Reply With QuoteReport This Post
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A Trust is a legal document for ownership. To set up a Trust--contact a lawyer (HeavyD here on Sig Forum will set it up, ($99, done in 24 hrs).
If you registered your NFA items in your name--$200 to transfer each item to your new Trust.
In your Trust--you name the Trustee's ,(wife, son, etc). An appendix at the end of the Trust can list all your items in the Trust.
In the event of your demise--all NFA items get a free transfer to your spouse, son or Trust.
Think of the Trust as a Will--avoid probate, the local PD and the Feds=ATF, (list your non NFA guns in the Trust).
https://www.atf.gov/firearms/d...nts-estates/download
 
Posts: 2410 | Location: Southeast CT | Registered: January 18, 2009Reply With QuoteReport This Post
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Inflation--> $150
https://nfalawyers.com/
 
Posts: 2410 | Location: Southeast CT | Registered: January 18, 2009Reply With QuoteReport This Post
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If you have NFA items registered to you as an individual, it requires a Form 4 and $200 for each item to transfer to a trust. They don’t need to be reengraved.
 
Posts: 3525 | Location: South FL | Registered: February 09, 2007Reply With QuoteReport This Post
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quote:
Originally posted by ador:
I need your help please. I am several NFA Items that are registered as Individual NFA items. I want to create a NFA Trust (to include my wife and son as beneficiaries). I have no clue how the NFA TRUST work and how to get started. So please help me out with these questions.

[QUOTE]Originally posted by ador:
1. How to get started with the NFA Trust? (I came across couple of on-line places that will assist in setting this up). Are those on-line places reliable? Or better to get a local lawyer to set it up? How much do they cost?


Another suggestion for Dean Phillips (HeavyD).

quote:
Originally posted by ador:
2. When creating a NFA Trust (for the first time), can I only register 1 SBR or Suppressor for the FIRST transaction? Or can I apply/register 3 SBRs at the same time when creating the Initial NFA Trust?


You can add as many of whatever as you want, just file all of them as a trust.

quote:
Originally posted by ador:
3. Do you have to pay $200 fee for EACH item to be registered on the TRUST?


Yes.

quote:
Originally posted by ador:
4. How do you add a NEW item to the TRUST?


When you file your Form 1 or Form 4, you file it as a trust.

quote:
Originally posted by ador:
4. Lastly, How can I add the SBRs and Suppressors that are currently registered in my name as INDIVIDUAL, on to the NFA Trust? Do I need to pay a New Fee? Do I need to re-engrave the SBRs with the NFA Trust Information?


You will need to file a Form 4 for all of these to transfer them to your trust, and yes, pay a new $200 tax stamp for each. You do not need to re-engrave, since the SBR has already been "created."


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Posts: 18045 | Location: Sonoran Desert | Registered: February 10, 2011Reply With QuoteReport This Post
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Feel free to call with any questions.


H. Dean Phillips
$150 Gun Trusts
https://nfalawyers.com
 
Posts: 6621 | Location: Georgia | Registered: December 02, 2005Reply With QuoteReport This Post
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@heavyd

Can I create a trust in the State of Iowa?

Do you think the $200 transfer fee might be rescinded in the future? In particular on suppressors, I suspect not so likely on SBR's? I have several suppressors and SBR's. Paying a transfer fee on each of them would be somewhat of a burden and I can wait if the tax might go away.



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Posts: 3025 | Location: See der Rabbits, Iowa | Registered: June 12, 2007Reply With QuoteReport This Post
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quote:
Originally posted by bettysnephew:
@heavyd

Can I create a trust in the State of Iowa?

Do you think the $200 transfer fee might be rescinded in the future? In particular on suppressors, I suspect not so likely on SBR's? I have several suppressors and SBR's. Paying a transfer fee on each of them would be somewhat of a burden and I can wait if the tax might go away.


I wouldn’t hold my breath hoping that the $200 transfer fee will go away. An individual and a trust are two different legal entities, even if that individual is part of the trust, and the Form 4 and tax are required if transferring an existing NFA item between two entities. It would require a change in the law, and that’s unlikely to happen. Alternatively, the NFA could be found unconstitutional, which is also unlikely, but if it were, you wouldn’t have to worry about transferring anything in the first place.
 
Posts: 3525 | Location: South FL | Registered: February 09, 2007Reply With QuoteReport This Post
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I still haven't started the Gun Trust. My son will turn 21 this November. I was told that you have to be 21 to be on the Trust to own a NFA item. I want to have my wife and son to be on the trust. I have 4 lowers that need to be registered to be SBR. That is $800. I will be doing Individual Form 1 for now. And just bite the bullet and pay the $200 fee once again when I create the Gun Trust.


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Posts: 1995 | Location: Las Vegas | Registered: November 05, 2003Reply With QuoteReport This Post
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quote:
Originally posted by ador:
I still haven't started the Gun Trust. My son will turn 21 this November. I was told that you have to be 21 to be on the Trust to own a NFA item. I want to have my wife and son to be on the trust. I have 4 lowers that need to be registered to be SBR. That is $800. I will be doing Individual Form 1 for now. And just bite the bullet and pay the $200 fee once again when I create the Gun Trust.


Why not just wait for November? Run a brace until then. Or just do the trust with you and your wife for now and add your son in November. After approval, you don’t have to redo the form or pay another $200 if you add/remove people from the trust.
 
Posts: 3525 | Location: South FL | Registered: February 09, 2007Reply With QuoteReport This Post
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Hi Dean. What number can I reach you at? I have some questions before I place my order on the link you provided. Please email me in my profile for the number so I can call. Thank you.

quote:
Originally posted by heavyd:
Feel free to call with any questions.


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Posts: 1995 | Location: Las Vegas | Registered: November 05, 2003Reply With QuoteReport This Post
Dean of Law
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quote:
Originally posted by bettysnephew:
@heavyd

Can I create a trust in the State of Iowa?

Do you think the $200 transfer fee might be rescinded in the future? In particular on suppressors, I suspect not so likely on SBR's? I have several suppressors and SBR's. Paying a transfer fee on each of them would be somewhat of a burden and I can wait if the tax might go away.



You sure can. I highly doubt it will be. You may put anyone on the trust, even children. They simply cannot possess NFA items until they are of legal age.


H. Dean Phillips
$150 Gun Trusts
https://nfalawyers.com
 
Posts: 6621 | Location: Georgia | Registered: December 02, 2005Reply With QuoteReport This Post
Dean of Law
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quote:
Originally posted by ador:
Hi Dean. What number can I reach you at? I have some questions before I place my order on the link you provided. Please email me in my profile for the number so I can call. Thank you.

quote:
Originally posted by heavyd:
Feel free to call with any questions.


My website with phone number is in my signature. I do not post my phone number or the internet bots may start blowing us up. My website has it linked.


H. Dean Phillips
$150 Gun Trusts
https://nfalawyers.com
 
Posts: 6621 | Location: Georgia | Registered: December 02, 2005Reply With QuoteReport This Post
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quote:
Originally posted by ador:
I still haven't started the Gun Trust. My son will turn 21 this November. I was told that you have to be 21 to be on the Trust to own a NFA item. I want to have my wife and son to be on the trust. I have 4 lowers that need to be registered to be SBR. That is $800. I will be doing Individual Form 1 for now. And just bite the bullet and pay the $200 fee once again when I create the Gun Trust.


Don't do this. Form your trust now, with whatever trustees you want (perhaps just you and your wife), Form 1 your lowers to the trust. Add your son as a trustee when you want.

Dean's trust includes all of the forms necessary to make changes to the trustees and beneficiaries.
 
Posts: 5335 | Location: Iowa | Registered: February 24, 2011Reply With QuoteReport This Post
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+1 to Dean's trusts. He/his team did a great job setting mine up. I've used it several times for Form 1s and 4s.

No regrets.


________________________________________

-- Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past me I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain. --
 
Posts: 17994 | Location: New Mexico | Registered: October 14, 2005Reply With QuoteReport This Post
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If the things you already have on individual Form 1s are just generic AR lowers, what I’d recommend is to buy new lowers, and Form 1 them onto the trust. Then just move over the uppers and whatever boutique parts you don’t want to re-buy. The $200 transfer fee is so much more than the value of the lower, just keep the old ones around just so you have them, we all know how these things multiply.

If they are fancier items, MP5s or whatever, and you know your son will want to not just shoot that specific gun, but take it home and keep it for a while, it may be worth doing a Form 4 to transfer it to the trust.

Similar logic applies to cheaper .22 suppressors. They’re like $300, so just save up a bit and buy a new one on the Trust for your son and wife. We can always use an extra rimfire can.
 
Posts: 867 | Location: Volunteer | Registered: January 16, 2009Reply With QuoteReport This Post
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Hi Dean. I would like to place my order for a Trust today. I just have couple of questions I need to ask you before I submit my purchase on the website you provided. I called and left a voicemail on the number on the website. Please give me a call when you get the chance. Thanks.

quote:
Originally posted by heavyd:
Feel free to call with any questions.


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Posts: 1995 | Location: Las Vegas | Registered: November 05, 2003Reply With QuoteReport This Post
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