deserttacoma84 Report post Posted March 16, 2012 So I searched around this site for answers before posting, so forgive me if this has been discused before... my question is, has anyone created a living trust to register class 3 weapons to? I am looking at building an "SBR" style weapon and would be interested in silencer's and other cool toys... just want to know if anyone did it themselves or hired an attorney to help. My understanding is you can have a joint persons with equal rights on the trust and because this becomes similar to a company there are no background checks that the BATF can conduct, which takes months out of waiting for an approval to weeks or even days...everyone's input is appreciated. Thanks. Share this post Link to post Share on other sites
DrRx09 Report post Posted March 17, 2012 The forums at M4carbine.net have a lot of useful information in the NFA section. I would check that out. Share this post Link to post Share on other sites
coues7 Report post Posted March 17, 2012 Setup an LLC its much easier and better in my opinion. Share this post Link to post Share on other sites
deserttacoma84 Report post Posted March 17, 2012 Setup an LLC its much easier and better in my opinion. Any anual fees, insurance requirements? after I posted this I talked to someone else that suggested an LLC and for the 100 dollars it cost to set up might be worth it. Could one get an ffl license if an LLC is established? Share this post Link to post Share on other sites
coues7 Report post Posted March 17, 2012 Annual fees, insurance requirements...NO. FFL license under an LLC...Yes. You'll probably spend $75 with the ACC and $20-$40 to post your LLC in the newspaper for 3 weeks. Easy Cheesy Share this post Link to post Share on other sites
mbiewer Report post Posted March 21, 2012 My brother just set up a trust, and his friend just did the same. Basically it comes down to is this (not sure what the fees are...): Creating a trust is something similar to setting up a corporation. Brian(my brothers friend) set up his after he had already made class3 purchases under his name. To which he had to again pay the fees and licensing to get the items tranferred under his trust. My brother set up his trust and Ben is basically the person in charge of that trust. Since the safe is at Ben's house, both Brian and ben have to be listed on each other's trust to keep "access to all items" legal. (A sneaky way around this would, per say in an unlisted resident, is have that person say "i cant open the safe, i dont have the key/combo". that person than can be on in the house. But any and all who have access to any of the items must be listed). On that note, Ben is "the chairman" of the living trust (it will never go away). the chairman can list other members of the turst (to have access with proper paperwork). He must alos list the next perosn in line. In Ben's case (and maybe he doesnt trust me, ha ha)... In order for me to take over the trust "due to an untimely accident" (what are little brothers for, plus he has cool sh!t in that box) it would take the signatures of me, my sister, and one other person he has listed out on his trust. Now here is where i think it gets sketchy... Officially, the trust created by him, is the actual "holder" of the Federal license. That being said, Ben can add or delete names from the trust as he sees fit... without the other individuals needing to file paperwork. Much to the same as a corporation. " trust:coroporation; Ben:CEO; items(weapons, or any other items): corporate property; other individuals: more employees" *he has had to explain this to me several times over, so if any of it is unclear...he isnt a member here but i could set you up with his personal email to ask him any questions about it. Share this post Link to post Share on other sites
