What have you bought in the last 48 hours gun related?

Picked up a Super Duty 14.5

 

Yeah.... And - "I only really need one SBR"

 

got my last couple of bits Saturday to complete my Geissele 16" to go along with the Geissele 12.5.

 

Nah, I literally never shoot .300 blk. It's just been collecting dust for the past 5-6 years. No point buying another lower for an upper that never gets used.

 

That’s how mine started is with my 300 blackout that only gets used to hunt Hogs. Good luck

 

I've just been on a kick lately of getting all my ARs up to speed so I can grab any one of them and be perfectly happy with it, otherwise what's the point of having them except to add numbers to the collection? Don't like having pieces that I don't use or neglect.

 

Put one together for a friend

 

Is this the first step I need to take to start a stamp collection? I'd rather have everything under a single trust rather than multiple single shot trusts. Opinions?

 

Yes, you can have everything under a single trust. You can have co-trustees and beneficiaries too. It's also tax-exempt.

 

That's what I used, super easy to set up.

 

Do most just you their first and last name plus "Gun Trust" as the name of the trust or something similar?

 

After 41F, trusts became a waste of time and energy. That's my opinion because:

A) There's no way in hell Id ever "share" NFA things with trustees in this day and age.

B) Form 5 is tax free transfer

 

I don't know what 41f is (sorry new to this).

I just like having everything under one umbrella.
My Trustees would only be my wife and kids in the event something ever happens to me. Is a form 5 any easier than them just being on the trust?

 

41p was a rule change quite a few years ago now. Prior to 41f, almost everyone used trusts as doing things as an individual wasn't worth it and you needed a CLEO signature. After 41p it's a mix which way to go. Individual is fine as are trusts. For trusts you do have to get fingerprints for each person on the trust so that can be annoying it including say a brother who lives out of state (but once submitted they are good for...2 years)


The trust vs form 5 is just different ways of doing things. The trust (assuming written correctly) nothing needs to be done. Form 5 the lawful heir will have to submit the paperwork.

 

https://www.atf.gov/rules-and-regul...-checks-responsible-persons-effective-july-13

Before 41F, local LEO signoff was required for all stamps. Obviously, getting LEO signoff was nearly impossible. So to avoid LEO signoff, we used trusts. The ATF didnt let this loophole stay open forever, so they "solved" it with 41f.

Personally I would not entrust my estate transfer and ATF liability of my family to a $59 internet trust. For peace of mind and an "all in one" estate mechanism, I hired a real lawyer. You can still put stuff in a trust, but its a waste for getting stamps.

Edit: "sharing" with trustees can also introduce some transport complexities that arent automatically resolved in trusts

 

I was planning on getting a lawyer to make a living trust to stick my house, bank accounts,etc. Is it possible to also use that same trust for NFA items if I do decide to use a trust for these as opposed to doing them individually?

 

You don't have to share anything if you don't want to. Whoever owns the trust by extension owns everything in the trust, and can determine who has access to what. It's a good way to pass guns on to your children for example, and protects the guns from tax liabilities too.

 

I used my kids initials and trust. You don't actually include trust in the name it gets added automatically.

Another thing I would do is just use the trust to buy all your NFA items with only you on it. Then add your trustees to the trust later.

 

That was the plan. Add them later. Thanks for the info.

 

I'm not a lawyer, but I don't think beneficiaries are considered responsible persons.