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Forming a trust in a state you plan to move to?
10/10/2011 12:57:50 PM
I have a friend that currently lives in Texas, but will be moving to Arkansas soon (has family here). He's looking at an SBR, and wanting to know if he could form a trust in AR, and have the SBR transferred into that trust before he is a resident of this state. Is this doable? Should he have it kept at the AR class 3 dealer until he has moved, what's the best way to go about this? He's basically trying to cut off some of the wait he will be subjected to.
Thanks.
Thanks.
10/11/2011 10:50:03 PM
Originally Posted By locrain:
I have a friend that currently lives in Texas, but will be moving to Arkansas soon (has family here). He's looking at an SBR, and wanting to know if he could form a trust in AR, and have the SBR transferred into that trust before he is a resident of this state. Is this doable? Should he have it kept at the AR class 3 dealer until he has moved, what's the best way to go about this? He's basically trying to cut off some of the wait he will be subjected to.
Thanks.
I have a friend that currently lives in Texas, but will be moving to Arkansas soon (has family here). He's looking at an SBR, and wanting to know if he could form a trust in AR, and have the SBR transferred into that trust before he is a resident of this state. Is this doable? Should he have it kept at the AR class 3 dealer until he has moved, what's the best way to go about this? He's basically trying to cut off some of the wait he will be subjected to.
Thanks.
When is he moving? Right now it is taking 4+ months to process the paperwork at the BATFE. Is this a form 1 build or a form 4 transfer. If it is a transfer of an existing SBR from Texas resident to himself, the process would differnet than him just making it with a form 1. If it is a from 1 build, I would put the new address and build it up after he moves to his new address. A lot less hassle and he wouldn't have to send in change of address paer work and also get a request to move it across state lines. In that case it would be best to have the trust done in Arkansas.
