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Joined: Sep 2005
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Campfire Tracker
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Campfire Tracker
Joined: Sep 2005
Posts: 6,312 Likes: 1 |
Have been told by several dealers the trust route is going away. You can will it to someone and the transfer is at no cost though. Obama is trying to close the trust "loophole" that will mandate a background check on all members of the trust before approval. In limbo... Form 5 is a tax free transfer to your heirs, just needs to be filled out and submitted.
Last edited by supercrewd; 11/30/14.
NRA Life Member
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Campfire Ranger
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Campfire Ranger
Joined: Aug 2006
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Isn't there some kind of interview the buyer has to go through with law enforcement before you can be approved to buy a suppressor? I wouldn't mind having one but it sounds like a big hassle to get one.
That's ok, I'll ass shoot a dink.
Steelhead
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Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2005
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I don't think there is an interview, local LEO are supposed to do a sign off. I guess that might make some want to talk to you.
I don't get the local sign off. Its beyond stupid.
A friend went trust because his local would sign full auto but not suppressors because he doesn't like suppressors.... go figure.
We can keep Larry Root and all his idiotic blabber and user names on here, but we can't get Ralph back..... Whiskey Tango Foxtrot, over....
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Campfire Sage
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Campfire Sage
Joined: Aug 2007
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Isn't there some kind of interview the buyer has to go through with law enforcement before you can be approved to buy a suppressor? I wouldn't mind having one but it sounds like a big hassle to get one. Just put it in a trust. Any reputable dealer will walk you through it. Some charge to set it up, others don't. Travis
Trump being classless,tasteless and clueless as usual. Sorry, trump is a no tax payin pile of shiit. My young wife decided to play the field and had moved several dudes into my house
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Joined: Aug 2006
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Campfire Ranger
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Campfire Ranger
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OK, I don't know the first thing about suppressors or acquiring such so i'll ask the dumb question. When you say put it in a trust, what does that mean?
That's ok, I'll ass shoot a dink.
Steelhead
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Joined: Jan 2001
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Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
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A trust is a legal entity.
Instead of the supressor being owned by an individual, the supressor is owned by the trust. The difference being with a trust, everyone who is a part of the trust has legal access to the supressor. Hence you don't have to physically be present anytime the supressor is used by someone in the trust, and you don't have a pay a $200 transfer when say you pass on and you want one of your heirs to have the supressor as you could already have them as a trustee.
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Joined: Aug 2006
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Campfire Ranger
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Campfire Ranger
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Still need a LE sign off on it correct?
That's ok, I'll ass shoot a dink.
Steelhead
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Campfire Regular
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Campfire Regular
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John 8:12 "I am the light of the world. Whoever follows me will never walk in darkness, but will have the light of life."
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Joined: Aug 2006
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Campfire Ranger
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Campfire Ranger
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OK, I'll to ask my buddy about this, he's got 3-4 suppressors and he never mentioned anything about a trust.
That's ok, I'll ass shoot a dink.
Steelhead
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Joined: Aug 2007
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Campfire Sage
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Campfire Sage
Joined: Aug 2007
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The trust is the only way to go.
Travis
Trump being classless,tasteless and clueless as usual. Sorry, trump is a no tax payin pile of shiit. My young wife decided to play the field and had moved several dudes into my house
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Campfire Outfitter
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Campfire Outfitter
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I didn't have any trouble going individual. Sheriff signed off without issue and they already have my fingerprints anyway. The idea of letting a buddy borrow it, doesn't appeal to me and my heirs can transfer it for $5 after I'm dead.
I own a corporation and could've went that way too but didn't see the need myself. Just get one!
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Campfire Tracker
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Campfire Tracker
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I went indvidual too. No big deal.
What's the wait time for approval these days?
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Campfire Sage
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Campfire Sage
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I bought one a couple months ago and it was 5-7.
I need to be able to put my family and friends on the trust otherwise I'd see no point in buying one.
Travis
Trump being classless,tasteless and clueless as usual. Sorry, trump is a no tax payin pile of shiit. My young wife decided to play the field and had moved several dudes into my house
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Campfire Tracker
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OP
Campfire Tracker
Joined: Feb 2001
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That was my reason too. If my wife or kids want to use it they can do so without me being there. I guess I could just put all members of the 'fire on it and have a community suppressor!
Guns don't kill people, it's mostly the bullets
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Campfire Outfitter
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Campfire Outfitter
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The only way I'd buy a can as an individual is if they passed 41P requiring everyone on the trust to be fingerprinted.
Otherwise, there is no downside to a trust, and the flexibility of having legal access for your family is worth the $200-300 you'll pay for a lawyer to draw one up.
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Campfire Tracker
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OP
Campfire Tracker
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The nice thing about Florida is that the "Trust" doesn't have to be filed anywhere and can be modified easily.
Guns don't kill people, it's mostly the bullets
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Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2005
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I didn't have any trouble going individual. Sheriff signed off without issue and they already have my fingerprints anyway. The idea of letting a buddy borrow it, doesn't appeal to me and my heirs can transfer it for $5 after I'm dead.
I own a corporation and could've went that way too but didn't see the need myself. Just get one! Ah, you don't "trust" any of your friends. LOL. I went that trust route so the nephews and good friends and family can use them as needed. Not like I'm giving em a LAW or such
We can keep Larry Root and all his idiotic blabber and user names on here, but we can't get Ralph back..... Whiskey Tango Foxtrot, over....
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Joined: Nov 2006
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Campfire Outfitter
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Campfire Outfitter
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my friends can buy their own... 
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Campfire Regular
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Campfire Regular
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Wait time is around 6 months now. The ATF hired I think 9 new people for no reason but approving NFA paperwork.
John 8:12 "I am the light of the world. Whoever follows me will never walk in darkness, but will have the light of life."
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Joined: Dec 2006
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Campfire Kahuna
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Campfire Kahuna
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Have been told by several dealers the trust route is going away. You can will it to someone and the transfer is at no cost though. Obama is trying to close the trust "loophole" that will mandate a background check on all members of the trust before approval. In limbo... Form 5 is a tax free transfer to your heirs, just needs to be filled out and submitted. Noted but don't bet zero won't get it done. As I said I have heard it from more than one source in the business.
Liberalism is a mental disorder that leads to social disease.
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