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Thread: Trust or Personal Ownership for Class III Items?

  1. #1
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    Trust or Personal Ownership for Class III Items?

    I'm posting this here because I wasn't sure where to post it. I remember awhile back someone was talking about setting up a trust to "own" things like suppressors and I was curious as to what the advantages are for having a trust own these items instead of the person directly. For example if one were to die could they transfer ownership of the trust to someone else and effectively sidestep the $200 transfer fee since the trust still technically owns the item?

  2. #2
    Activist Member golddigger14s's Avatar
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    Here is a link that might help you get the info you want:

    http://www.shootonthemove.org/news/t...ndayjuly172011
    "The beauty of the Second Amenment is that it will not be needed until they try to take it." Thomas Jefferson
    "Evil often triumphs, but never conquers." Joseph Roux
    http://nwfood.shelfreliance.com

  3. #3
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    Don't do personal ownership, trusts are better.
    Last edited by Daylen; 11-06-2011 at 05:16 PM.
    Don't believe any facts that I say! This is the internet and it is filled with lies and untruth. I invite you to look up for yourself the basic facts that my arguments might be based upon. This way we can have a discussion where logic and hints on where to find information are what is brought to the forum and people look up and verify facts for themselves.

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    Founder's Club Member thebigsd's Avatar
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    Quote Originally Posted by Daylen View Post
    Don't do personal ownership, trusts are better.
    Why?
    "When seconds count between living or dying, the police are only minutes away."

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    Quote Originally Posted by thebigsd View Post
    Why?
    Exactly. I want to know why.

    Also I followed the link but it didn't say why it was better, only that there would be a meeting on the subject. A meeting that I can't attend and has already passed.

  6. #6
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    Quote Originally Posted by thebigsd View Post
    Why?
    Trusts don't die and can include multiple people.
    Don't believe any facts that I say! This is the internet and it is filled with lies and untruth. I invite you to look up for yourself the basic facts that my arguments might be based upon. This way we can have a discussion where logic and hints on where to find information are what is brought to the forum and people look up and verify facts for themselves.

  7. #7
    Regular Member zoom6zoom's Avatar
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    Exactly. Anyone listed as a trustee may have custody of your listed NFA items. Let's say you were to die, with your stuff in your personal name. There's legal issues with your spouse even having access. If that person were a trustee, no problem. Plus you have a beneficiary, so not transfer taxes upon death of the primary trustee.

    Let's also remember that an entity such as a trust has no fingerprints or face, so this is eliminated from the stamp process. And of course, a trust doesn't have to go hat in hand to the local CLEO and ask, please, sir, sign off on this and give me permission to exercise my rights.

    There was an expert on trusts supposed to speak at a recent VCDL meeting. I wasn't able to attend, but was hoping someone would have taped or filmed it.
    Last edited by zoom6zoom; 11-06-2011 at 06:10 PM.

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