Question about trusts

[Mosinowner]

If I were to file a NFA trust for something like a SBR would specific names have to be on the form? Or just a company name? Say I wanted to build a SBR and be able to posses when I turn 21 without a 2nd transfer.

 

[Indy_Guy_77]

I think that "principles" have to be named on the Trust, but I fully admit that I'm not sure.

Also, I believe that one has to be 18 in order to begin a Trust.

-J-

 

[CampingJosh]

If I were to file a NFA trust for something like a SBR would specific names have to be on the form? Or just a company name? Say I wanted to build a SBR and be able to posses when I turn 21 without a 2nd transfer.

I think you have a misunderstanding of the whole process.

There is no one to "file" a trust with. You create a trust, and then it's done. It doesn't have to be filed in your county courthouse or anything like that. Set it up, sign with witnesses, and it's a trust (so long as what you set up does meet the requirements for a trust in your state).

When you file a Form 1 or Form 4 with ATF, the actual applicant/transferee is the name that goes on the form. When the actual applicant/transferee is a trust (a legal "person" on its own), then the trust's name goes on the forms. If you put any other name there, the trust won't be the owner.

I have a friend who has several NFA items in a trust, and one of his co-trustees is a 7 year old, so I know that ATF will approve that kind of set up.

 

[Mosinowner]

I think you have a misunderstanding of the whole process.

There is no one to "file" a trust with. You create a trust, and then it's done. It doesn't have to be filed in your county courthouse or anything like that. Set it up, sign with witnesses, and it's a trust (so long as what you set up does meet the requirements for a trust in your state).

When you file a Form 1 or Form 4 with ATF, the actual applicant/transferee is the name that goes on the form. When the actual applicant/transferee is a trust (a legal "person" on its own), then the trust's name goes on the forms. If you put any other name there, the trust won't be the owner.

I have a friend who has several NFA items in a trust, and one of his co-trustees is a 7 year old, so I know that ATF will approve that kind of set up.

Thanks. rep inbound

 

[revsaxon]

As has been said many many times on this board and others... go thru a lawyer to set up your trust. Texas has some weird requirements...

Obviously YMMV, but I got mine done thru sean cody (Home), and he cames insanly highly recommended on a lot of Texas NFA related sites.

 

[CountryBoy19]

I have a friend who has several NFA items in a trust, and one of his co-trustees is a 7 year old, so I know that ATF will approve that kind of set up.

Beneficiary or trustee?

I'm certainly not a trust lawyer but I don't think a minor can be a trustee, only a beneficiary that will become a trustee when they come of age... or something like that... not really sure.

Anyways, my actual point, being a trustee, even if underage doesn't grant authority to possess Title II firearms. The trustee must still be 18 (or 21 depending on state law), and I'm pretty certain an underage person cannot be the grantor of a trust.

And just because the ATF has approved previous forms with an underage person as trustee on a trust doesn't mean it is legal or proper. I think we all know about how bad they are at that stuff. The employees are afterall, government employees (or possibly contractors), not lawyers, and they aren't always thorough about every aspect of the job.

BTW, my trust doesn't list the age of ANYBODY on it. I think it would be rather odd to list the ages of the trustees on a trust document. I'm not saying you're wrong, just skeptical that the ages are actually listed. And if they aren't, the ATF would have no way of knowing there was an underage trustee on the trust. That is just more support for my above point that past approvals don't mean it's legal.


My recommendation for the OP: Form a trust when you turn 18, or have your parents form one now and add you as a trustee now if they can, or when you turn 18 if they can't do it now. Disclaimer: Even if you are a trustee you cannot "possess" any Title II firearms unless you're 18. "Possess" in this case means wholey possess them independent of other people legally allowed to possess them. You are permitted to shoot them under the supervision of an adult that is authorized to possess them; you just can't take them with you by yourself to go out shooting.

 

[CampingJosh]

Beneficiary or trustee?

Trustee. I was a little surprised by it, too.

Of course the boy will never be in possession of anything for the next 11 years, but he is a trustee now.
The friend told me that he had a lawyer set up the trust, and he lives out on the East Coast. That's about all I know on it.

 

[CountryBoy19]

Trustee. I was a little surprised by it, too.

Of course the boy will never be in possession of anything for the next 11 years, but he is a trustee now.
The friend told me that he had a lawyer set up the trust, and he lives out on the East Coast. That's about all I know on it.

Ah, ok... could easily just be differeing state laws then. I will assume that it's acceptable practice in his home state.