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MA Uniform Trust Code and NFA
- Thread starter glide
- Start date
dcmdon
NES Member
Other than the initial cost, no.
Eliminates fingerprinting, photos and the CLEO signoff. Whats not to love. I can now make or transfer a NFA item in the time it takes me to fill out a form 1 or Form 4. About 15 minutes.
Don
Eliminates fingerprinting, photos and the CLEO signoff. Whats not to love. I can now make or transfer a NFA item in the time it takes me to fill out a form 1 or Form 4. About 15 minutes.
Don
The big plus that hasn't been mentioned, is if the trust is set up right, is that you can give certain other important people access to your NFA items. An individual only NFA transfer doesn't do this. It's stuck to one person and only that one person has legal possession under most circumstances.
-Mike
-Mike
dcmdon
NES Member
Great point Mike. I was only thinking of the plusses as far as getting the NFA stuff.
I am currently using my trust for exactly this same purpose. In order to get my machine gun into MA I will have to do the following items sequentially.
1) Get a LTC - done
2) Get a MA MG license - submitting it tomorrow
2) File an ATF 5320 (the ATF wants to see the LTC and MG license before they will approve the 5320) - estimated wait 4 months.
So I added a friend who is a fellow NFA collector and generally good responsible guy to my trust as a trustee and now all my NFA stuff is at his house, including the silencers that I'll never be able to bring into MA.
I did this because while I go to CT every weekend, I don't feel as comfortable as having that stuff at a house that is lived in daily.
One other benefit has to do with how trusts are traditionally used. If you die, your NFA stuff has to be transferred and will cost $200 per transfer for in state transfers and $400 each for out of state transfers. With a trust, the other trustees retain control over the firearms without any transfers.
Finally, in theory, a trust establishes some liability protection for the trustees if the firearms are misused.
Thats all i can think of off the top of my head.
My trust cost $800. If anyone wants one, I know a great atty in CT named Jeff Crown. He's a gun nut, idpa competitor and estate attorney. So he's got all the bases covered. Not sure if he's licensed in MA.
Don
I am currently using my trust for exactly this same purpose. In order to get my machine gun into MA I will have to do the following items sequentially.
1) Get a LTC - done
2) Get a MA MG license - submitting it tomorrow
2) File an ATF 5320 (the ATF wants to see the LTC and MG license before they will approve the 5320) - estimated wait 4 months.
So I added a friend who is a fellow NFA collector and generally good responsible guy to my trust as a trustee and now all my NFA stuff is at his house, including the silencers that I'll never be able to bring into MA.
I did this because while I go to CT every weekend, I don't feel as comfortable as having that stuff at a house that is lived in daily.
One other benefit has to do with how trusts are traditionally used. If you die, your NFA stuff has to be transferred and will cost $200 per transfer for in state transfers and $400 each for out of state transfers. With a trust, the other trustees retain control over the firearms without any transfers.
Finally, in theory, a trust establishes some liability protection for the trustees if the firearms are misused.
Thats all i can think of off the top of my head.
My trust cost $800. If anyone wants one, I know a great atty in CT named Jeff Crown. He's a gun nut, idpa competitor and estate attorney. So he's got all the bases covered. Not sure if he's licensed in MA.
Don
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My only reservation would be having to engrave collectable, fully transferable firearms with your trusts' name.
Only true on form 1. Same as having to engrave the persons name that is the maker. Never seen a transferable mg needing the trusts name engraved, something change?? A trust acts the same as a person to the ATF for a normal form 4 transfer I thought (basically).
dcmdon
NES Member
You are correct. Nothing has changed.
On a form 1 you have to engrave the SBR/MG/Silencer with the name of the "maker". Regardless of whether its a person, trust, or corporation.
On a form 4 no engraving is necessary regardless of whether you are a person, trust, corp.
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Thanks for the clarification.
Who do you recommend using in the Boston area to setup the trust? Is anyone putting non NFA (title 1) guns under the trust? Would it avoid probate, tranfer fees is the hears were out of state, or reduce confusion as to who was being left what?
dcmdon
NES Member
The whole idea of a trust is that it owns the guns (NFA or not), not you.
So when you die, nothing significant happens as far as the trust is concerned. The guns are still owned by it and the other trustees have the right to use and/or sell them based on the terms of the trust.
So literally nothing happens when you die, because the owner of the guns, the trust, is unaffected by your death.
So, in short, it can help with probate stuff.
If you have made it kknown to the trustees that on your death, you would like a certain firearm given to someone who is not a trustee, they simply transfer the firearm to that person. Done. Its just a transfer.
There are a LOT of details to be worked out like what powers the trustees have, etc, so talk to a good lawyer.
One guy you may want to start with is a guy named Jeff Crown. He's in CT, but I believe hes admitted to the MA bar.
He is an estate lawyer, so its directly his line of specialization AND he's a gun nut/IDPA shooter. So he understands all sides of the issue. He's also a nice guy.
Don
So when you die, nothing significant happens as far as the trust is concerned. The guns are still owned by it and the other trustees have the right to use and/or sell them based on the terms of the trust.
So literally nothing happens when you die, because the owner of the guns, the trust, is unaffected by your death.
So, in short, it can help with probate stuff.
If you have made it kknown to the trustees that on your death, you would like a certain firearm given to someone who is not a trustee, they simply transfer the firearm to that person. Done. Its just a transfer.
There are a LOT of details to be worked out like what powers the trustees have, etc, so talk to a good lawyer.
One guy you may want to start with is a guy named Jeff Crown. He's in CT, but I believe hes admitted to the MA bar.
He is an estate lawyer, so its directly his line of specialization AND he's a gun nut/IDPA shooter. So he understands all sides of the issue. He's also a nice guy.
Don
