NFA Trusts

[Unlicensed Dremel]

Guys, just a heads up, if you didn't know. This is part of my business....

Start with the premise that trust route > individual route for several reason for NFA items.

The BATFE had a 90 day comment period on a proposed rule to take away ONE (but certainly not all) of the advantages of the trust route awhile back - that being the "end run" around CLEO signoff & fingerprints (which granted, is a BIG deal if your CLEO is anti-gun).

However, the BATFE has decided, for now, to NOT adopt this rule, at least for about 4-5 more months; maybe longer - the future is uncertain as to whether they will ultimately cut off the end run around CLEO signoff down the road a few months or years.

HOWEVER, regardless of whether they do or don't, the main point is this: Right now this advantage is NOT "cut off", and most importantly, if and when they do adopt this rule, there is roughly a 90% chance that you'll be "grandfathered" if you go the trust route now, and won't have to go back and do the CLEO signoff & fingerprints. Not guaranteed, but highly likely you'll be grandfathered.

So, get one now while the getting is good! Now is the time to act and get your SBSs, SBSs, Suppressors, etc.

This is the best place to get one done: www.guntrustlawyer.com . The Apple firm (Mr. Goldman) is the premier expert on the NFA trusts, and he covers all 50 states. He is your lawyer, but he also gets you a second lawyer in your state, to make sure the trust complies with your state laws. Reasonable fee for what you get - two actual lawyers, not paralegals or "spithouse lawyers", on your case/trust, tailored to your situation. Yes, I have a financial interest in this, but trust me - Mr. Goldman's office is excellent to deal with and he's the best. His website there is a treasure trove of good info, whether you get one or not.

(Note: there are other large advantages of the trust route as well, such as estate planning - providing for continuity for the items to stay in your family after your death, as well as a huge advantage in picking "co-trustees" - friends and family - who can also shoot all the items legally).

[Spats McGee]

Thanks for the heads-up!

[Machineguntony]

The bigger question, at least for some of us, is where the market goes if ATF implements 41P.

Imagine if one day they do to silencers what they did to machine guns in '86. $15,000 for a 30 year old suppressor. Deal!

[Sharkbite]

Is there some new info on 41p? The comment period has closed. ATF is drafting responses (afaik)

What prompted this post?

[Unlicensed Dremel]

Let me revise a bit - don't want to mislead anyone...

I said "90% chance" - well, I'll take that back and say "highly likely" that the grandfather clause will be in there - but is that 60% chance or 90% chance? - hard to say. I need to talk to Mr. Goldman and find out for sure what his thoughts are - he's the expert. PM me if you want a follow up. Thanks.

Sharkbite, what prompted it is just my belief that there will be grandfather clause ultimately when/if the regs are adopted - hence the urgency to get while the gettin's good, so to speak - there's still time - but not a LOT of time - to do it (draft it, execute it, buy your items or at least send off your form 1s & 4s), and do an end-run around CLEO sign-off if you need that aspect (have an anti-gun CLEO). Now if there's not a grandfather clause addressing the CLEO signoff or lack thereof on EXISTING trusts at the time of implementation, then you'll have wasted your money if the only reason is needing the end-run around CLEO signoff (i.e. if you don't value the other trust aspects / benefits - co-trustees, estate planning advantages). You may know more than me - probably do - is there going to be a grandfather clause or isn't there? Maybe you know and can set me straight - the last thing I want to do is mislead people - but according to Mr. Goldman's office, it's evidently silent / unclear / vague / ambiguous (whatever you want to call it) as to how existing trusts will be treated (are they really going to make people with anti-gun CLEOs "give back" all the items the trusts already owns and then revoke their trusts? Maybe but seems unlikely to me). Mr. Goldman is the expert, so I'm going by what his office tells me. I trust the experts on this. But perhaps you are an equal expert as Mr. Goldman and have a different opinion as to the treatment of existing trusts in the event of passage of this by BATFE? I suppose if they're formulating their responses, then it's just "up in the air" - any number of proposed changes or new terms could be proposed by them in their responses, seems to me. If so, this may or may not address "grandfathering" (or not) in a new or different way. We just don't really know. But if *I* was already considering a trust to begin with, I'd want to shell out, get the trust done, on the hopes that ultimately a grandfather clause will be in there, - that is - *IF* I lived in a county where my sheriff refuses to sign off (anti-gun CLEO)...or police chief. I'd want to "slide in under the bar" so to speak. Seems to me that if you're already inclined to get one, now is the time - though admittedly, there's a chance, however small, that you'd be wasting your time and money if ultimately there's not a grandfather clause and the BATFE shows up to take your items back and revoke or "nullify" or "quash" your trust, due to lack of CLEO signoff. It's a risk, sure, but it's a risk that I would personally calculate to be worth it, if already considering or wanting a trust, in an anti-gun CLEO county (or frankly, even if NOT in an anti-gun CLEO county - since ya know, why NOT avoid the fingerprinting and begging a cop to let you exercise your fundamental right?)