Quote:
Mobuck Well, I guess I've been corrected.
Unfortunately, I've already got a well laid out trust specifically intended to keep the NFA items securely in the family when I die. Setting up individual trusts for each stamp seems to defeat that intent.
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Not at all. And it may make it easier.
In fact Silencer Shop offers their "Single Shot Trust" that doesn't require a notary. When you purchase the Single Shot, Silencer Shop will name the trust after the serial# of your silencer. They will submit the Form 4 to ATF with only one name on it....yours. Meaning only your prints and photo are required.
After the stamp is returned and you take possession of that silencer, you can add as many members to each Single Shot Trust as you desire. They must not otherwise be prohibited from possessing firearms. No fingerprints, no photos, no background checks, no additional wait time while the FBI runs BG checks on your ten trust members and no delay getting everyone rounded up to get fingerprints/photos/documents.
You can list certain members on some trusts and not on others.
For example:
Your $400 Dead Air Mask? You, your wife, son, daughter, next door neighbor and two co workers.
Your $2000 AAC Cyclops? Only you and your family are members
Trusts can be amended to add/subtract members at any time. Having a single firearm in its own trust makes selling that silencer easy. Take buyers $$$, add him to the trust and give him authority to remove you. As the trust remains the legal possessor, no transfer has occurred and no Form 4 is required.
If you are the only responsible person listed on your trust, your property would still pass on to your heirs. (as would NFA firearms possessed as an individual).