Author Topic: Got the trust paperwork today: How many Co-Trustees?  (Read 3374 times)

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Online TXAZ

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Got the trust paperwork today: How many Co-Trustees?
« on: April 19, 2016, 08:56:24 PM »
I just got the trust paperwork today. Read it, understand it.  I'm a little confused on the + / -'s of having all my family members on the trust:
There currently are 9 family members on the trust, easy to change down if necessary.
Question is, do I really want that many on it? Not sure with 41F coming.

If I send it in in the next week with all the signatures, then go to the LGS and order the 2 suppressors I'm looking at, what's the advantage or disadvantages? It seems like every time I add another 'toy' after July 1, I'll have to go back and get fingerprints and pictures?

Is this correct? Any directions or suggestions appreciated.

Offline michaele

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Re: Got the trust paperwork today: How many Co-Trustees?
« Reply #1 on: April 19, 2016, 09:04:27 PM »
I would go with as few as possible.  I have 4 total on mine now. When it changes I think I'll get it down to two to avoid extra prints and photos.

Offline michaele

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Re: Got the trust paperwork today: How many Co-Trustees?
« Reply #2 on: April 19, 2016, 09:09:24 PM »
Advantage- all trustes can be in possession of item.
Disadvantage - the prints , photos after rule change goes into effect.

I have my wife and father on it now and they have never had the items without me anyway.  Hell for that matter no one has had them without me.

Offline Domineaux

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Re: Got the trust paperwork today: How many Co-Trustees?
« Reply #3 on: April 19, 2016, 09:32:43 PM »
I'd keep the number as low as realistically possible. All will needs prints and photos any time something new is bought if not within 2 years of the last set of prints/photos.
My trust is set up so that I can add and remove trustees very easily so that I will be able to remove them before making a purchase and add them back as needed.
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Offline michaele

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Re: Got the trust paperwork today: How many Co-Trustees?
« Reply #4 on: April 19, 2016, 09:54:24 PM »
Dom.  Another report state that the two year window is not going to apply.  Photos/prints every time.  Sadly no one really knows what the ATF will do until they do it.  I've got 3 form 4's pending now looking for a Sig SRD9 still and plan on filing another SBS before changes go in to avoid the first round of submitting after changes.

Offline Txhillbilly

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Re: Got the trust paperwork today: How many Co-Trustees?
« Reply #5 on: April 20, 2016, 09:11:37 PM »
You can always add or subtract Trustee's on a trust. Right now, I would be the only one on the trust until you buy all the NFA items that you want. Then once you receive the stamps for those items add on everyone that can legally possess such items to thr trust as trustee's.
I have 4 others on my current trust, if I decide to buy any other NFA items after the new rules go into effect, I'll just start another trust with myself as sole trustee until the stamps are approved.

Offline kstephens

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Re: Got the trust paperwork today: How many Co-Trustees?
« Reply #6 on: May 09, 2016, 10:19:14 AM »
From the Performance I have seen by the ATF more than likely they will be requiring fingerprints and passport photos for everyone on every item. My last inspection there were 36 suppressors/machineguns that they stated did exist in the registry and I had to show them the paperwork (form 3) with their signature on the paperwork. It is a government agency you cant give them to much credit!

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Re: Got the trust paperwork today: How many Co-Trustees?
« Reply #7 on: June 05, 2016, 11:47:45 PM »
Less is more unless the trust limits the powers of the trustee and takes them out of the definition of responsible person.

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