Trust?

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!
  • Noble Sniper

    Master
    Site Supporter
    Rating - 100%
    132   0   0
    Feb 22, 2010
    1,886
    113
    Anderson, Indiana
    Planning to SBR a pistol but looking at cans and other NFA items. Seriously thinking about going the way of a trust so my son has full access, use, etc should I pass. Do you setup the trust before the sbr paperwork? Kinda don’t want to get the cart before the horse.
     

    nucular

    Expert
    Rating - 100%
    10   0   0
    Dec 17, 2012
    1,159
    113
    Brownsburg
    Planning to SBR a pistol but looking at cans and other NFA items. Seriously thinking about going the way of a trust so my son has full access, use, etc should I pass. Do you setup the trust before the sbr paperwork? Kinda don’t want to get the cart before the horse.

    What I understood is that transfer after death is simple and the tax is waived. You would want the trust if he will make use of the items without you being present (and still alive). I believe you do the trust first if that's the route you are going.
     

    Mark-DuCo

    Master
    Rating - 0%
    0   0   0
    Aug 1, 2012
    2,265
    113
    Ferdinand
    You need to set up the trust first if you are planning to purchase and NFA item using a trust. I used silencer shop to do mine. It was super easy, and cost around $130. I went the trust route incase my son or my father ever wants to use my cans to hunt with. They are the only two on the trust besides myself.
     

    Noble Sniper

    Master
    Site Supporter
    Rating - 100%
    132   0   0
    Feb 22, 2010
    1,886
    113
    Anderson, Indiana
    Thank you for the information. So…. If I form a trust with my son listed as a trustee …. Every time I purchase a item whether it be a can or NFA firearm I would not only have to to fill out a form( have no clue about the numbers) and send along prints and passport photos not only of mys flag but my son as well correct. Also, he is in his thirties so a grown man as well.
     

    Mark-DuCo

    Master
    Rating - 0%
    0   0   0
    Aug 1, 2012
    2,265
    113
    Ferdinand
    Thank you for the information. So…. If I form a trust with my son listed as a trustee …. Every time I purchase a item whether it be a can or NFA firearm I would not only have to to fill out a form( have no clue about the numbers) and send along prints and passport photos not only of mys flag but my son as well correct. Also, he is in his thirties so a grown man as well.
    Yes, if he is listed as a trustee.

    My son is only 8 right now, so he is only the beneficiary (I think that is the correct term) and doesn't have finger prints on file or have a background check done. Once he is 21, I will add him fully to the trust.

    You can also buy all your toys with just you on the trust, and then add other trust members if I recall correctly.
     

    Slow Hand

    Master
    Rating - 99.3%
    145   1   0
    Aug 27, 2008
    3,086
    149
    West Side
    The only issue with a trust, from my probably outdated understanding is that with a trust, you now have to have photos and fingerprints for all trust members. I have one and have used it iwb past for E-File, but now I believe you can do e-file as an individual. For me, having my wife on the trust, it’s more of a detriment to have the trust as when I want to submit another F1, I have to get her to get a passport photo and fingerprints along with mine.
    that reminds me, I’ve been wanting an SBS awhile…

    but for using, yes a trust is better because anyone on the trust can legally have access to the items. When you die, your heirs can do a Form 5 to transfer the items tax free to them.
     

    sloppyjoe

    Sharpshooter
    Rating - 100%
    9   0   0
    Mar 27, 2019
    301
    49
    Brownsburg
    If you want to do it cheap, you can use Silencershop or National Gun Trusts. If you want a trust from an Indiana lawyer who specializes in firearms, contact Marc Halata. Marc did my NFA trust, and it can be done completely remotely. I think his office is near Greenfield.
     

    Scenarfan

    Plinker
    Rating - 0%
    0   0   0
    Apr 11, 2018
    45
    18
    Hamilton County
    I went with the silencer shop single shot trusts for my recent suppressors. It’s a trust for just one can, with only me as the trustee. After I received the can, I can amend the trust to add or delete someone simply by filling out an a,end,ent form and having it notarized. The person I add also has to complete a form and have it notarized. Then I send it to silencer shop and they take care of the rest.
     

    dtownmj

    Plinker
    Rating - 0%
    0   0   0
    Oct 26, 2016
    53
    18
    Houston
    Planning to SBR a pistol but looking at cans and other NFA items. Seriously thinking about going the way of a trust so my son has full access, use, etc should I pass. Do you setup the trust before the sbr paperwork? Kinda don’t want to get the cart before the horse.

    Yes, you wil need to set up a trust before you file. Both reddit and ar15 forums have phenomenal step by step walk throughs


    Sent from my iPhone using Tapatalk
     
    Top Bottom