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Picture of ruger357
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I should probably know this, but I haven’t had time to look into it. My friend has two suppressors he purchased in his own name. He’s about to purchase a third suppressor and has now decided he should put it in a trust since his boys are adults. He asked me what the process is to move his to previously purchased suppressors into the trust. Would it be a form 4 and then just adding them to the trust? And there would be no fee for doing this correct?


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Posts: 8380 | Location: Hoover, AL | Registered: November 06, 2006Reply With QuoteReport This Post
Frangas non Flectes
Picture of P220 Smudge
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Yes, and yes.


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Posts: 18997 | Location: Sonoran Desert | Registered: February 10, 2011Reply With QuoteReport This Post
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Yea, I goofed this up myself. Bought a can a decade plus ago. Actually paid a lawyer for a trust. Then they changed the rules and everyone on the trust needed to be fingerprinted etc. So as far as I can tell that trust for that ONE can is basically useless. I think.

Then after the NFA no tax stamp, I bought an sbr and a can under an individual Form 4. Decided to get some more stuff and bought the Silencer Shop trust for me and my son basically. He already had an account, fingerprints and pictures, so I am awaiting those items to get approved.

In the meantime I definitely need to move the sbr and can onto the new "family" trust. Dumb question, and admittedly I have done ZERO research so far. Do I just go on the ATF website and wade in with the new Form 4's for those 2 items to go onto the family trust? Is it easy? I assume I will have to send the ATF the trust papers and maybe fingerprints and photos. Or does the Silencer Shop stuff work? I am very confused.
 
Posts: 8479 | Location: Florida | Registered: June 18, 2005Reply With QuoteReport This Post
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I will happily eat humble pie if I am off on this post, but a good thought to keep in mind is that any transfer moving NFA items TO a trust will require prints, photos, and Responsible Person Questionnaires for the executor/trustee AND all listed co-trustees.

I have noticed shorter approval times when trusts are filed with a single executor/trustee. You could amend a trust to remove everyone but a lone executor/trustee (and beneficiary) and file that version with Form 4 transfers. Once approved and stamps are issued, you could then amend the trust again to reinstate the co-trustees.

If making amendments is more painful than the additional approval time, and you have a foreseeable end to the NFA shopping list, you could wait until all of the individual approvals come through and then file one crop of no-cost Form 4s to move the items to the trust.

Thoughts to consider!
 
Posts: 865 | Registered: February 10, 2009Reply With QuoteReport This Post
Dean of Law
Picture of heavyd
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Creeping Death is correct. A simple amendment can remove everyone but the settlor (creator of the trust) from the trust. Add everyone back once approved.


H. Dean Phillips
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Posts: 6637 | Location: Georgia | Registered: December 02, 2005Reply With QuoteReport This Post
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