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Old October 26, 2009, 12:52 PM   #7
Crosshair
Senior Member
 
Join Date: December 16, 2004
Location: Grand Forks, ND
Posts: 5,320
Quote:
Crosshair, why don't you or your dealer like the trust method?
The chance for mistakes and the trust being invalid. The ATF doesn't like them and with the widespread use of software like Willmaker and such it would be interesting to see what happens when the ATF cracks down and starts putting trusts under a microscope. There has already been one case that has grabbed attention regarding an invalid trust.

Trusts are a legal work of fiction. Like a corporation, they essentially create a "person" that does not really exist. With non-NFA guns you can always "transfer" the guns back to yourself, but with NFA it is $200 per transfer.

There is the issue of a Form 5 transfer. For an individual, this is clear-cut and no problem. On a trust it is still not settled. There is a chance that your extate may have to pay $200 per NFA item to transfer it out of the trust upon death.

I'm probably being paranoid, but I'm not chancing it. ESPECIALLY with the ATF.
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