NFA from a beginner's perspective

[Rotor Talker]

Good info here, thank you for taking the time to outline it so well. I've been down this road 4 times now, this time was probably the most difficlut getting a signature, but that was only because the sheriff had been exceptionally busy with a death in the jail, understandable.

Biggest comment that worried me was while he was signing my Form 4 he makes the remark "you'd better exercise these rights while you can" I found that really troubling.

Thank You again

[bigus_D]

Originally Posted by Clay

good deal! Ill be watching this thread.

One question: did you ever give consideration to setting up a trust for NFA purchases? if so why did you choose not to have one? Im still debating.

I've never looked into NFA purchases, but am interested in why one would setup a trust and how that works.

excellent post by the way! looking forward to hearing how it works out. (but since it was a silencer you bought... )

[Scutter01]

Originally Posted by bigus_D

I've never looked into NFA purchases, but am interested in why one would setup a trust and how that works.

A trust allows you to have joint ownership of an item with multiple people. The benefit is that if you die, you don't have to transfer the item to your beneficiary which would incur another tax stamp and three month wait.

[Cwood]

Originally Posted by bigus_D

I've never looked into NFA purchases, but am interested in why one would setup a trust and how that works.

excellent post by the way! looking forward to hearing how it works out. (but since it was a silencer you bought... )

Originally Posted by Scutter01

A trust allows you to have joint ownership of an item with multiple people. The benefit is that if you die, you don't have to transfer the item to your beneficiary which would incur another tax stamp and three month wait.

It also eliminates the CLEO signature and the fingerprints.

[bigus_D]

Originally Posted by Cwood

It also eliminates the CLEO signature and the fingerprints.

Why NOT setup a trust then? Is it just the cost and trouble of the legal forms?

[Fenway]

Good post

[bigcraig]

Originally Posted by Fenway

Good post

You really should start your own "NFA purchase" thread, grand poo-bah.

[nalees]

What happens if you ever move out of Indiana with your new toy? Are you allowed to take it anywhere?

[hotrodtba]

Originally Posted by nalees

What happens if you ever move out of Indiana with your new toy? Are you allowed to take it anywhere?

If the state you are moving to allows your type of weapon (machine gun, silencer, SBR, etc) you can take it with you and notify the ATF of your move.

If the state doesn't allow it, you can either sell it or destroy it (not my first choice obviously), or if there is a way can store it in Indiana without anybody else having access to it, that is a possibility also.

[csaws]

Saw the answer after I posted sorry.