NFA Trust 101

[Dustbuster]

Just wanted to post that a co worker just did a NFA Trust w Chip Cain,,w Cain Law,his words to describe the process were " smooth as glass" and asked me to post a kudos w 5 stars for anyone interested.!!

[Guest Ditchdigger]

+1 for Chip. Looks like someone else Will be standing in the waiting line, too.

[bigwakes]

Yep. Took me 3 days with chip. Called him 6 months later because the BATFE said they wanted an assignment page instead of a schedule A and he had it to me within the hour.

[Guest 270win]

Is it true that there have been problems with the ATF as far as a husband having NFA items in a gun safe and the wife having the combo to the gun safe where other guns are kept?

[John Wells]

I don't know about "problems" but knowledge of the combination to the gun safe sould be considered possession of the NFA item, and under the NFA, possession by an unauthorized person is the crime.  Another reason to have your NFA items in the name of a trust.

[Guest semiautots]

Is it true that there have been problems with the ATF as far as a husband having NFA items in a gun safe and the wife having the combo to the gun safe where other guns are kept?

 

Put your wife as a trustee.  No problems.

[Tempest455]

I did one w/ him as well. Much upside to a trust, little if any downside.

[Dustbuster]

Put your wife as a trustee.  No problems.

LOL Thats funny...

[midtennchip]

Thanks for the nice words, folks. There are some "issues" with other people (such as a wife) knowing the combination to the safe under the ATF's constructive possession stance. It isn't just an NFA issue, though. The constructive possession issue goes to any firearm and the case law on it really is an outcrop from constructive possession cases of non-NFA firearms by felons, as well as non-firearms related cases. Whether or not it would ever arise the a real criminal prosecution for just having someone (particularly someone who is not prohibited from possession anyway) know the combination of a safe is just an academic discussion at this point. I am not aware of any case where prosecution has occurred. But, there are plenty of people who have had to defend themselves in constructive possession cases (both firearms and non-firearms cases) to make it a potential risk.

[Guest 270win]

If someone moves to another state with an NFA trust, will the trust have to be modified?  Such as if I moved from Tennessee to Arkansas?

[midtennchip]

If someone moves to another state with an NFA trust, will the trust have to be modified?  Such as if I moved from Tennessee to Arkansas?

Generally, no.

[Guest HarpethArms]

Great info..

[Dolomite_supafly]

So even if another person lives in the same house you are supposed to prevent them from having access?

 

Another question, is there any way I can give a friend or two unfettered access to NFA items I have access to? I wrote a letter to the ATF with that exact same question last year and never got a response. I know they have to be people I trust and I do.

[cannoncocker]

"Another question, is there any way I can give a friend or two unfettered access to NFA items I have access to?"

 

I created a NFA trust and transferred ownership, on a Form 4, all my NFA items acquired prior to the trust creation date to the newly created trust.  My Trustees have access to all trust assets.

 

Yes, at $200.00 a pop, it was expensive.

[Guest Ditchdigger]

Trying to put the paper work together for  another form 4. Question is Schedule A or Supplemental Assignment sheet. Looking for my first stamp to come in end of July first of august. Used a trust done by Chip. Sent schedule A on the first one, confused now can't find anything by searching Assignment Sheet. Searched Schedule A and some guys said they were getting approved without it. HELP CHIP. Or anyone else.

[Photoguy67]

If I may ask, if you do a trust, does it have to be renewed every so often like a business license? I know the tax stamp is a one time deal but honestly I don't know much about trust. Thanks

[midtennchip]

No, you do not have to renew the trust. It is completely private. No filing it with the state (like an LLC or corporation).

[Photoguy67]

No, you do not have to renew the trust. It is completely private. No filing it with the state (like an LLC or corporation).

Thanks, I guess in my confusion I thought it was basically a corporation.

[dou44]

what is the cost of having a trust set up with the wife an the paper work.i am thinking of doing a sbr.i was told it was eaiser to have done the first time.