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John Wells

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Posts posted by John Wells

  1. The short version of what we know so far:

    If anyone on your trust has the right to be in possession of your trust property, they are "responsible persons" under the new rule and will have to submit fingerprint cards and photos for all stamps filed for after the 13th of July.

    If you have other questions, feel free to contact me directly. I will be filing for a SBR on the 14th so I can report back on the process to everyone.

    Sent from my iPhone using Tapatalk

    • Like 1
  2. I'd love to see them at least fix that nonsense so that one could obtain a suppressor or an SBR without having to pay a right to by tax. Main reason I don't have a can now is because of all the red tape nonsense and undo attention it brings. Total BS.... And SBR rules make NO SENSE.

     

    The red tape is actually pretty easy if you're willing to set up a trust.

  3. The trust bank account is usually set up so that any interest earned would pass to you personally. A trust tax filing should not be necessary. I maintain that it makes a much clearer paper trail if you set up a trust checking account and use it to pay for any NFA related expenses. Whether or not the ATF says it's necessary, I think it's the best practice. If you're having problems with a credit union, I'd suggest asking what they need specifically and only providing them with that information. The certification of your trust with a beneficiary named should be sufficient.
    • Like 1
  4. The other benefit of having your NFA, or any guns for that matter in a trust, is that they transfer to your heirs outside of your probate estate.  Anything that goes through the probate court may be public record depending on how your other estate planning documents are set up.  This and the flexibility of people that are in possession of your NFA items are the only reasons I would transfer anything that I owned as an individual into a trust.  You still have to pay the tax and wait for the stamp to come back, but at least you're in possession of your items the whole time.

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