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Posted: 11/1/2012 11:49:21 PM EDT
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Ok, so I have had my AAC SPR/M4 for a while now, and had gone the route of CLEO signoff with fingerprings and such as an individual transfer.
I am contemplating purchasing the 7.62-SDN-6 for a 300 BLK build I am doing along with an SBR lower. I think I am going to go the trust route for these items, however I have a concern regarding my AAC SPR/M4 which was done as an individual transfer. Is it possible to add it to the trust so if anything happens to me I can legally pass it to someone else as long as they are on my trust? |
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Ok that's not so bad then. Does this mean that the suppressor that I already own will have to go sit at the class III dealer again while I wait for the form 4 to come back a second time ? or do I get to keep possession of my suppressor in the meantime?
I'm using a phone so punctuation is probably really shitty right now |
| The above advice is correct. The only downside is the $200 and new stamp. Since you already have it as an individual you don't have to have it locked up at a dealer or anything. You would just have to decide if putting that in your trust is the best option for you. |
| One other question... Okay say I purchase a lower and am wanting it to be an SBR. If I plan to set up a trust later on down the road and I currently have that lower engraved with my first and last name city and state instead of the trust name, Will that make a difference when I end up going the trust route or will I have to get a new lower and have the trust name engraved on it? |
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Quoted:
One other question... Okay say I purchase a lower and am wanting it to be an SBR. If I plan to set up a trust later on down the road and I currently have that lower engraved with my first and last name city and state instead of the trust name, Will that make a difference when I end up going the trust route or will I have to get a new lower and have the trust name engraved on it? No, you are making a SBR, that is why you need your name and address on the lower. After it is made (by you), it is just a transfer ($200) to your trust. If you bought a factory SBR it would have the name and address of the manufacture, and you would not need to have your name and address engraved on it. |
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Ok, understood. I figured if I went the individual route for my lower now, and decided on setting up a trust later, that I would have to get the lower either filled and re-engraved with the trusts information, or do it all over again with another lower.
I assumed the lower had to either have my first/last name and city/state if it was individual transfer, or trust name and city/state if a trust. I guess I will be getting the trust setup so I don't have to fork out cash for 2 stamps... |
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An SBR transferring from an individual to a trust will transfer on a form 4, and not need to be remarked. If you are the individual, transferring it into your own trust, you could use the weapon until the time came to swap the paper work.
I personally wouldn't do that, though, if you die, your goodies can still transfer to your chillin's on a form 5. Just make a will, and write that in there. You can use quicken willmaker for that, too. Buy bullets with the $200 you save. |
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Quoted:
Ok, understood. I figured if I went the individual route for my lower now, and decided on setting up a trust later, that I would have to get the lower either filled and re-engraved with the trusts information, or do it all over again with another lower. I assumed the lower had to either have my first/last name and city/state if it was individual transfer, or trust name and city/state if a trust. I guess I will be getting the trust setup so I don't have to fork out cash for 2 stamps... If you SBR your lower as an individual, engrave as a individual and pay for the $200 stamp you will still need to pay another $200 to transfer it into to your trust, you would not need to re-engrave it with the Trust info. I would wait on engraving or form your trust now put the lower on the Schedule A to fund the trust and send the form 1 off when you have time, engrave while you wait. Anything you register before you form the trust will cost $200 to transfer into the trust. MAHA |
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Let's clarify some confusion: your SPR/M4 *can* be legally passed down to someone else, tax free, even if it's registered to you as an individual. This happens via a Form 5, which, again, is a tax-free transfer. 9.5.3 Distribution of estate firearms. A decedent’s registered NFA firearms may be conveyed tax exempt to lawful heirs. These distributions are not treated as voluntary “transfers” under the NFA. Rather, they are considered to be involuntary “transfers by operation of law.” Under this concept, ATF will honor State court decisions relative to the ownership and right to possess NFA firearms. So, when State courts authorize the distribution of estate firearms to decedents’ lawful heirs, ATF will approve the distribution and registration to the heirs if the transactions are otherwise lawful. A lawful heir is anyone named in the decedent’s will or, in the absence of a will, anyone entitled to inherit under the laws of the State in which the decedent last resided. |
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Quoted:
The above advice is correct. The only downside is the $200 and new stamp. Since you already have it as an individual you don't have to have it locked up at a dealer or anything. You would just have to decide if putting that in your trust is the best option for you. If you do a transfer to the trust, once the new stamp comes back you can sell the old stamp to a collector for around $50. That way you are only out $150 
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Quoted:
If my current suppressor can be transferred via a form 5. Is it just as easy to leave in my fathers possession if I get deployed? Or does that make it illegal? Your suppressor can only be transferred via F5 if you die. So no. If you get deployed and you have possession of the suppressor as an individual and not via the corporation or trust route, your best bet is to put the can in a safety deposit box which only you have access to. The other possibility is a locked container that, again, only you have access to. You can then leave it with your father. But you could not go over the day before you deploy and just hand him the can. That's a no no. |
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