Living Trust Route to Class 3

[slamfire51]

A living trust is an alternative way to acquire class 3 weapons.
Which form would be correct?
#1 revocable
#2 irrevocable
#3 assignment of LLC company interest to living trust
#4 financial account transfer to living trust

[AKTexas]

A living trust is an alternative way to acquire class 3 weapons.
Which form would be correct?
#1 revocable
#2 irrevocable
#3 assignment of LLC company interest to living trust
#4 financial account transfer to living trust

Someone must have a how to guide. I'm wanting to go this route as well.

[slamfire51]

Someone must have a how to guide.I'm wanting to go this route as well.

I want to SBR something.
Got the urge.

[AKTexas]

I want to SBR something.
Got the urge.

I want to SBR, and a Draco pistol that I have coming.

edit: I'm still on the fence for the draco.

[slamfire51]

It would be sweet if the $200 tax was exempt when using a trust.

[AKTexas]

It would be sweet if the $200 tax was exempt when using a trust.

If only it was and if they understood what "shall not be infringed" meant.

[circuits]

A living trust is an alternative way to acquire class 3 weapons.
Which form would be correct?
#1 revocable
#2 irrevocable
#3 assignment of LLC company interest to living trust
#4 financial account transfer to living trust

Class 3 describes a type of dealer not a type of firearm - "Title 2" or "NFA" being the correct general description of the firearms themselves.

The most common is a Quicken Willmaker living trust. The decision of revocable or non-revocable is a matter personal preference, but you can alter the terms of a revocable living trust, which makes it more flexible than a non-revocable living trust. IANAL, YMMV, etc.

[slamfire51]

Class 3 describes a type of dealer not a type of firearm - "Title 2" or "NFA" being the correct general description of the firearms themselves.

The most common is a Quicken Willmaker living trust. The decision of revocable or non-revocable is a matter personal preference, but you can alter the terms of a revocable living trust, which makes it more flexible than a non-revocable living trust. IANAL, YMMV, etc.

That's the reason I'm asking for info.
I know nothing about this.

[nfa1934]

I'm going to be setting up a trust this week, as soon as the software I ordered arrives. Quicken is now bundling a Living Trust maker with Willmaker, so I bought that package.

The suppressor I ordered came in sooner than I expected. I thought I was going to have a couple more weeks to get this set up.

[308]

All my CL3 are in a revocable living trust. Revocable because I can change the participants in the trust whenever I like...like when the exwife decides to drop her panties for some dude she hasn't seen in 35-years, well then, she no longer participates in the trust.

At least that's how I interpreted her message.

[Notch]

so if my son is listed as a trustee, that means that the NFA is on hold for him to complete form 5s or that he does not need to complete from 5s. ( I am at a loss due to the fact that if i die before he is of age, there is really no one to hold on the the firearms)

i am know what a revocable trust means for me, but what advantages if any are there for the person i am leaving the iron too?

tia!

[308]

More on the subject:
http://arizonagunlist.com/How_to_buy...O_signoff.html

[nfa1934]

Questions: When I get to the part about property placed in trust, do I leave that blank? Do I have to place something in trust in order to create the trust (I think the example on 308's link was one United States dollar)? Do I need to enter the information for the suppressor I'm buying or does that get added after the transfer?

[jjeez]

i own my own company as an LLC. Does this qualify for purchasing a suppressor? or SBR?

[az_paul]

308............Many thanks for posting the Arizona NFA Living Trust article. We live in Arizona, have NFA weapons and would like to transfer them to a Living Trust. Great info and thanks again!!

[Lysander]

Questions: When I get to the part about property placed in trust, do I leave that blank? Do I have to place something in trust in order to create the trust (I think the example on 308's link was one United States dollar)? Do I need to enter the information for the suppressor I'm buying or does that get added after the transfer?

Leave it blank until you get the stamps approved, then enter the serial number. If you like, you can do as I did and list an item in there, like "1 lead fishing weight, 3oz." or something cutesy. With the ATF, it's best not to.

i own my own company as an LLC. Does this qualify for purchasing a suppressor? or SBR?

INAL

But I wouldn't do it. One, it becomes that company's property, so if you sell the company, you get to transfer all your NFA items to some other entity, and pay the taxes all over again. Also, all the property of an LLC is up for grabs in the event of bankruptcy, including your NFA items. At least, that's how I understood it when I researching my options.

[slamfire51]

In a Form 1, where it asks for an overall length, do I enter the completed SBR length or the length it is before SBR'ing?
I am SBR'ing a pistol.

ETA: Can a forward grip be used on a SBR without requiring additional paperwork and tax?

[1 Patriot-of-many]

In a Form 1, where it asks for an overall length, do I enter the completed SBR length or the length it is before SBR'ing?
I am SBR'ing a pistol.

ETA: Can a forward grip be used on a SBR without requiring additional paperwork and tax?

Completed. Yes.

[slamfire51]

Completed. Yes.

Thanks.