Armory Sponsor
Posted: 2/26/2015 3:38:46 PM EDT
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I am getting ready to file my Trust to build a SBR. Lower is engraved, trust has been returned, witnessed and I am now assigning assets to the trust. On Form 1 I know I put FMI as maker. What about on the trust assignment page. Do I put the name of the manufacturer of the lower or FMI? Also, do I have to populate the beneficiary schedule now or can that be done later?
Thanks for the help. |
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you need to have a beneficiary, since the point of the trust is to hold property until the settlor/grantors death and distribute said property via a trustee.
If you have anything on your Schedule A/assignment page, it would be the lower with only the original manufacturers information as you dont have permission to "make" the sbr yet |
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Quoted:
you need to have a beneficiary, since the point of the trust is to hold property until the settlor/grantors death and distribute said property via a trustee. If you have anything on your Schedule A/assignment page, it would be the lower with only the original manufacturers information as you dont have permission to "make" the sbr yet Do I need to assign specific property to the benefiicaries? FMI is the ATF's designation for the model of an AR when the owner builds it from parts. IIUC |
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Quoted:
Do I need to assign specific property to the benefiicaries? FMI is the ATF's designation for the model of an AR when the owner builds it from parts. IIUC Quoted:
Quoted:
you need to have a beneficiary, since the point of the trust is to hold property until the settlor/grantors death and distribute said property via a trustee. If you have anything on your Schedule A/assignment page, it would be the lower with only the original manufacturers information as you dont have permission to "make" the sbr yet Do I need to assign specific property to the benefiicaries? FMI is the ATF's designation for the model of an AR when the owner builds it from parts. IIUC What you're saying doesn't sound like any Form 1 I've ever filled out. And I have 6 or 7 of them. |
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Quoted:
On Form 1 I know I put FMI as maker. What you "know" in this regard is probably incorrect. You only use FMI as the manufacturer (not the maker) if it's a lower you made yourself, e.g. from an 80% lower or a forging. If you used a manufactured lower, you'd instead put the name of the manufacturer. And on the assignment page, you'd use the manufacturer also. As to the beneficiaries, your trust is a legal nullity if it doesn't have at least one beneficiary other than yourself. You can change beneficiaries later, but there must be at least one for the trust to be valid. |
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Quoted:
What you "know" in this regard is probably incorrect. You only use FMI as the manufacturer (not the maker) if it's a lower you made yourself, e.g. from an 80% lower or a forging. If you used a manufactured lower, you'd instead put the name of the manufacturer. And on the assignment page, you'd use the manufacturer also. As to the beneficiaries, your trust is a legal nullity if it doesn't have at least one beneficiary other than yourself. You can change beneficiaries later, but there must be at least one for the trust to be valid. Quoted:
Quoted:
On Form 1 I know I put FMI as maker. What you "know" in this regard is probably incorrect. You only use FMI as the manufacturer (not the maker) if it's a lower you made yourself, e.g. from an 80% lower or a forging. If you used a manufactured lower, you'd instead put the name of the manufacturer. And on the assignment page, you'd use the manufacturer also. As to the beneficiaries, your trust is a legal nullity if it doesn't have at least one beneficiary other than yourself. You can change beneficiaries later, but there must be at least one for the trust to be valid. ^^this^^ It's an EForms thing. 
Same thing for a Form 1 suppressor where there's no original manufacturer. Form ends up looking like this: 
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