Setting up a trust to buy NFA, No L.E.O to sign

[target17]

Can any body tell me any thing about this, supposedly it is like
Incorporating! Thanks

[sarge]

The trust is the route I took for my NFA toys. Quick and painless. No CLEO signoff, no fingerprints and no photos. I have had my forms approved in less than 3 weeks.

I had heard reports that the local police chief won't sign, and the sherrif will sign, but some people have told me he sometimes takes 2 to 3 months to get around to it. With the trust, fill out your paperwork, include a copy of your certification of trust, and in about 4 weeks start watching the mailbox. I'm playing with my toys while others are waiting for a signoff.

Here is a comprehensive thread on ARFCOM about taking the trust route...

Trust Thread (http://www.ar15.com/forums/topic.html?b=6&f=17&t=199942)

[target17]

Sarge:
Thanks, some body else refered me to that sight & it answered all my questions. I hope this will eventually do away with having a C.L.O. at all. I'm a clss2 sot so this will be good info to pass along, thanks for your reply.

[DriBak]

This is great!

[bigj480]

So all this does is eliminate the CLO signature and fingerprint requirement and acts like a will, right? If you can get a signature would it still be worth it? Would you have to worry about future laws that may affect the trust?

[sarge]

You never know what future laws will be, whether trust or individual. As for the signature, with the trust, you can designate trustees that can use the NFA items without your presence. On an individual, you can't let your son or daughter, or wife for instance, take the NFA items to the range and use them. The NFA item is registered to you. If they are listed as trustees, they can use the NFA items just like any other trustee listed in your trust (ie: brother in law, sister, brother, uncle, cousin, etc). Also, if you die, your trustees still have access to the NFA items.

As far as if it would be worth it, that is up to you. If you only want it registered to YOU, then it might be worth it. I like the option of my son having access to my NFA items without me looking over his shoulder.

[vipergts]

Be aware that Co-Trustees of a Trust have all of the rights, duties, and powers of the trust as well. This includes use and disposition of the trust assets. Any trustee can sell trust assets of the trust. Even your NFA toys!

[sarge]

Originally posted by vipergts
Any trustee can sell trust assets of the trust. Even your NFA toys!

Mine is set up that any disposition of the Trust property has to be mutual agreement of both Trustees (myself and my wife). It also list my children's name as having full access and privileges to possess and use all property in the trust. The only way they can sell any of the Trust's assets is upon the death on both trustees, myself and my wife, and then they both considered sucessor trustees and any property disposition has to be agreed on in writing by both parties.

[bigj480]

This is perfect, I'm about to buy my first NFA item. I thought that you could only include one other person in a trust, I guess I am mistaken. So anyone in the trust can be in possession of my firearms without my presence, that's perfect.:thumbsup: