Sorry I was short in my earlier post but I was on my iphone and typing is tough. The reason I went with the trust is my CLEO in Hinds county would not sign off. Also the added benefit of allowing other trusties to have the property without me around. It is easier to pass to your kids if you have any. Anything owned in your name at the time of your death can be a real problem to deal with. With the trust that is all taken care of.Subsonix said:@DR
I haven't decided on which route to take yet. My wife is in the legal field and can handle a trust for me in her sleep, so no problem there. I am leaning twards the trust route since I figure this first NFA item won't be my last. I'm just gathering info at the moment.
Sure will, IF I go that route. I'm not sure about Chief Bolton, never met the guy. And, yes, Billy Mcgee is a good guy.
So, since I live in the city, do you think the BATFE will reject my application if I use a sign-off from the Sheriff?
So if I lend a SBR with a copy of the paperwork to my brother and he goes to the range without me, we are in violation of the law? That seems rather stupid. It's like buying a car and not being able to loan it to a friend because it is registered in your name. A car can be just as deadly as a gun, if not more so. Then again, all of this hoop jumping is stupid.Dock Rocker said:Also the added benefit of allowing other trusties to have the property without me around.
Once you have the trust in place it can own as many NFA items as you want. You have a schedule attached to the trust that shows what all the trust owns. If you own a NFA item and want to put it into the trust you will have to pay the $200 to transfer the ownership from you personally to the trust. So its a problem to do something after the fact.Free_Stater said:Dock, you did your research and dealt with what could become a huge problem in the future. I like that idea. I suppose one can set up a trust after the fact of purchase? Or do they keep you from doing that?