Looming weapons ban. Trust loophole?

The #1 community for Gun Owners in Indiana

Member Benefits:

  • Fewer Ads!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • nra4ever

    Master
    Rating - 100%
    25   0   0
    Dec 19, 2011
    2,373
    83
    Indy
    So not my ideal but does this sound like it could work? I guess it depends on what the final draft of the law will look like. I know this is common for class 3 items. The following is his suggestion.

    "I suggest that you create an individual REVOCABLE TRUST for EACH FIREARM you own and assign ownership of a firearm into the given trust. This means each trust you create will own ONE firearm. If you have 10 firearms, you have 10 trusts. You can also assign ammo into the trust if you like.

    They can even be named in numbered order:

    OK Coral Firearms #1 Revocable Trust
    OK Coral Firearms #2 Revocable Trust
    OK Coral Firearms #3 Revocable Trust

    ...etc

    You will need at least one Trustee (you) and a beneficiary.

    Trusts cost NOTHING to form (unlike filing a LLC or corporation) and do NOT have to be part of any public record. To establish the date the trust was created so it can not be disputed later make sure your signature is NOTARIZED when you form the trust.

    Now... once you do this you no longer technically own the firearm, the trust does. This means that if you wish to transfer that trust to anyone else in the future you simply add a Trustee to the trust and then you can resign from the trust. That is not a transfer or sale of the firearm.

    The new trustee now has control of the trust, and the firearm, and no "transfer" has taken place.

    Do this BEFORE it is signed into law, if it looks like that is going to happen. I predict it will happen.

    You are welcome."
     

    mr_camera_man

    Plinker
    Rating - 100%
    10   0   0
    Sep 2, 2010
    97
    8
    Lake co.
    Do you want to explain that to the cops running the gun sale sting as they're slapping the cuffs on you in the parking lot? I'll let someone else be the guinea pig on that one. And remember that the new "responsible party" stuff that got dumped on NFA corps and trusts was a ruling, not a law, and wouldn't take long to get administratively forced on us.

    Meanwhile, 3D printer go BRRRR...
     

    nra4ever

    Master
    Rating - 100%
    25   0   0
    Dec 19, 2011
    2,373
    83
    Indy
    Weapons list
     

    Attachments

    • 063DD11B94F08E05113DFC5F9841B0C4.assault-weapons-ban-of-2021 (1).pdf
      161.9 KB · Views: 28
    Top Bottom