NFA Trusts (EDIT: Fee Added)

[Rogue187]

@ Oaklander

Were you able to find an associate that is local to the SF Bay Area that is willing to assist in the creation of the NFA Trusts?

[Ishoot]

@ Oaklander

Were you able to find an associate that is local to the SF Bay Area that is willing to assist in the creation of the NFA Trusts?

I'm interested in this as well. Pm me with any details please. Thanks

[scarry scarney]

$$ how much ?

Anyone interested in NFA trusts may PM me. I am the atty working with Mike at O.C. Armory to do the NFA trusts on the Sebu shortys etc. I did the trust for O.C. Armory which has already been approved by the ATF. (Tax Stamp issued!)

David J. Salvin, Esq

So, bottom line, whats the est for the Sebu shorty, trust, and stamp?

If you do not want to post, feel free to pm me.

Thanks

[ke6guj]

So, bottom line, whats the est for the Sebu shorty, trust, and stamp?

here's price break down on it posted in OCarmory's SSS thread.

From what I gathered in discussion with Mike:

Weapon Cost: $750 + local sales tax

Federal Tax Stamp: $5

NFA Trust: $500ish?

CA DROS: $25

Gun Lock: $10 (lol)

So, that should be your approximate costs. If you need more info than that, contact OCarmory and talk to them yourselves to get the exact costs yourself. Mike would probably know the exact price that djandj charges for the trusts.

[LOW2000]

I did the latter. I spoke with the NFA branch of the ATF who advised that I should use my California address on the Form 4, but that the CLEO signoff should be from the county of the other state where it is intended to be stored. Because there is no place on a Form 4 to specify that the storage location is somewhere other than my physical address, I included the following in a letter that became an attachment to my Form 4:


The process was remarkably simple. I sent the Form 4 to the ATF on 05/16/2007, and it was approved on 06/11/2007.

On this topic, is something as simple as a bank safe deposit box sufficient for ATF storage regulations?

I'd gladly pay the yearly fee for a box at a bank near stateline that would allow me to pick up a suppressor on the way to out of state carbine classes.

[ke6guj]

On this topic, is something as simple as a bank safe deposit box sufficient for ATF storage regulations?

yes, it is.

NFA firearms may be left in a safe deposit box

[oaklander]

OK everyone - I started working with David Goldman again. He's the attorney who has drawn up what I think is the best NFA Trust.

The NEW price is $600. We were writing them for $750, but we decided that even though we don't make as much money at $600 - it will be nice to see even more people in California own NFA weapons!!!!!!

AND - you only need ONE NFA Trust, ever. And considering how expensive NFA weapons are, it's a good deal - especially when you consider that the penalties for "doing it wrong" are fairly severe.



So, if you are interested - please check out my new site at: http://CaliforniaNFAtrust.com/ - then give me a call, or shoot me an email. . .

KLT

[armygunsmith]

So, since it's the only NFA trust I will ever need, it will be good to go if I move to another state?

[oaklander]

The trust doesn't die if you move - you might need to amend it. That's about it.

So, since it's the only NFA trust I will ever need, it will be good to go if I move to another state?

[armygunsmith]

Very good. Thank you, sir.

[lavgrunt]

Okay, so help me out here, hypothetically........I am a California resident. I set up an NFA trust. I have a friend who lives is Nevada. Said friend allows me to store a gunsafe at his home. Can I buy say, an MG42 under the trust and specify on the Form 4 where it will be stored? Don't I still have to be a Nevada resident to even buy the MG42?

Please excuse my ignorance if I am waaaaaay off base.............

[oaklander]

Shoot me a PM - this is a complex answer - please include your email address. ..

Okay, so help me out here, hypothetically........I am a California resident. I set up an NFA trust. I have a friend who lives is Nevada. Said friend allows me to store a gunsafe at his home. Can I buy say, an MG42 under the trust and specify on the Form 4 where it will be stored? Don't I still have to be a Nevada resident to even buy the MG42?

Please excuse my ignorance if I am waaaaaay off base.............

[ke6guj]

that is an interesting question that comes up on the NFA forums from time to time, and I don't recall what the correct answer is. usually, guys want to get an NV NFA trust (or some other NFA-friendly state) set up to have the NV trust buy the firearm in question. Since the NV trust is buying the firearm, it can be purchased in NV. The issue is, when it is time to pick up the firearm, it must still be 4473'd, and since the trust is a legal entity, a physical person has to actually fill out the 4473, on behalf of the trust. At that point, I don't recall if federal law would allow an out-of-state person to fill out the 4473 on behalf of the instate NV trust. And then, if you toss in CA law trying to require CA residents to go through CA DROS, it gets even more complicated. At that point, it may be worth seeing if the trust can be drawn up to have a NV resident as part of the trust that can purchase on behalf of the trust and have them fill out the trust.

That type of scenario is where having an attorney that knows the in and outs of trust law, and how to draw up a NFA-specific trust, to deal with those tricky situations, is important.

[oaklander]

Yes - K nailed the issue. The attorney I work with has confronted this before, and I *think* he knows a way to do it. . . a legal way.

LOL

[Operator]

There are many types of trusts out there, seems like each has their intended purpose, Are there any "other" benefits to an NFA trust? Can it be used for estate planning, or inheritance issues? Or will this trust only be used for the legal ownership and permitting of NFA weapons?