anyone set up a gun trust?

[J_baker9418]

I'm looking to set up a gun trust so I can avoid a CLEO sign off on a form 1. Anybody set one up for themselves or had a lawyer do it? I've seen prices from $39 to $600 and I was just wondering if this would a good option for me.

[FF_T_Warren]

What is a gun trust? Others may be interested

[southern151]

If you have NFA regulated firearms, I >>THINK<<, CLEO would have to sign off on the transfer regardless. Keep in mind, this only my thought. Here's a link that may help though...

Trustee(s) administer the trust’s assets for the benefit of the beneficiaries. When the Trustor / Grantor (creator of the Trust) dies the trust usually continues with a successor Trustee administering the trust for the remaining beneficiaries. Because the trust lasts such a long time, successor Trustees and contingent beneficiaries should also be designated. Such trusts are often used when the Chief Law Enforcement Officer (CLEO) of an NFA buyer’s home city refuses to sign a Form 4 authorizing the transfer of an NFA weapon. CLEO sign offs have become an ever increasing problem in today’s security conscious world. An NFA trust or corporation is a separate legal entity. It is the actual purchaser of the NFA item and not an individual. Since an individual is not the purchaser (transferee) on the Form 4 (NFA transfer document) no CLEO approval is required. No fingerprint cards or photographs are required for transfers of Class 3 items to a trust.

http://www.guntrustlawyer.net/nfa_trust

[MattW]

I created a trust in March so I can move the NFA items to other family members when I deploy. You do not need CLEO signatures, only a decent lawyer (I paid $250) and about 20 minutes to fill out paperwork about the trust. Good luck with the ATF getting your tax stamp. The wait is now 15 months "due to the government shutdown." I don't know how 3 weeks off equals an additional 6 months wait.

[JPaul]

I'm in the process of setting one up. It's my understanding that the CLEO still signs off on Class III weapons, however I have read there are ways to get around it. I'm paying $150 for the trust. However each transfer comes with a cost. Once I have possession I don't intend to sell. Too much of a pain. I can let you know more after I meet with the lawyer. You can also do an LLC instead of a trust but that requires a yearly fee.


Jacob

[JPaul]

Originally Posted by MattW

Good luck with the ATF getting your tax stamp. The wait is now 15 months "due to the government shutdown." I don't know how 3 weeks off equals an additional 6 months wait.

Our Gubment at work….

[J_baker9418]

Originally Posted by FF_T_Warren

What is a gun trust? Others may be interested

A gun trust is a way to purchase nfa items. Usually if you want to buy a suppressor or build an sbr you have to fill out a form 1 and submit it as an individual, you have to have to get fingerprints done, a passport photo, and a CLEO sign off. With a trust, you don't have to do this. From what I have read and heard, a trust is the way to go

[J_baker9418]

Originally Posted by MattW

The wait is now 15 months "due to the government shutdown." I don't know how 3 weeks off equals an additional 6 months wait.

Really that sucks, I guess all the more reason to get started right away. I have everything set, I just need to engrave my reciever and set up a trust to finish my end.

[Sightwindow]

For all those wondering about the esoteric terms involved in this subject and what CLEO means, it's Chief Law Enforcement Officer, assuming a police chief or sheriff in a rural area.

[Vermillionaire]

I believe it's an A-B revocable trust fund. The trust owns the weapon or suppressor, and you would be a trustee being able to use whatever it may be. I got a copy of my friends, just need to change names and get it looked over.

[K23stout]

Go to ar15.com they have some post on how to do it.