Praying (suppressor) bill passes in IA.

[sac]

Hello all,

So in Ia. we are trying to get suppressor bill passed again. My stupid question is, can you legaly take it off of one rifle that you own and put it on differant rifle that you own?
Is it better to do a trust or just do it normal.

Thanks Scott

[223to45]

Yes you can use it on multiple rifles.

[Turnkey11]

Better with a trust, especially if you have kids. Otherwise they will need to apply for transfer and pay a $200 tax per item after your death, it can get expensive.

[BC98]

I’m also hoping that IA passes this, as well as IL.

Then, maybe the retards in the MN legislature will pull their heads out of their…who the hell am I kidding?

Either way, I wish you very good luck on working with your legislators on passing something that should be common sense.

[BigWaylon]

@N.Franklin

Better with a trust, especially if you have kids. Otherwise they will need to apply for transfer and pay a $200 tax per item after your death, it can get expensive.

That’s simply not true. A trust may make it easier, but the item will transfer tax free to an heir on a ATF Form 5 (see check boxes in Section 1) without a trust. Even with a trust, you may need to go through the F5, depending on position heir holds (trustee vs beneficiary) and how the trust is written.

There are several advantages of going the trust route. Avoiding the $200 transfer to your kids when you die isn’t one of them (a fact a majority of people don’t know when they’re getting into the NFA game).

[Jer]

@BigWaylon

That’s simply not true. A trust may make it easier, but the item will transfer tax free to an heir on a ATF Form 5 (see check boxes in Section 1) without a trust. Even with a trust, you may need to go through the F5, depending on position heir holds (trustee vs beneficiary) and how the trust is written.

There are several advantages of going the trust route. Avoiding the $200 transfer to your kids when you die isn’t one of them (a fact a majority of people don’t know when they’re getting into the NFA game).

You beat me to it. Lawyers have done a fantastic job of convincing the community that we need to give them our money but the fact of the matter most people don’t even realize what a trust can and cannot do or why they may or may not need one. Unfortunately there are people who can’t get CLEO sign-off and that’s the single biggest reason and that loop hole is going to be closed because everyone is abusing it which has brought WAY too much attention to it. I’ve got dozens of NFA items registered personally and they all perform exactly as they would if they were on a trust. I rest easy at night knowing that if anything happens to me someone close to me is getting a nice collection of NFA items w/o having to pay a dime.

[Turnkey11]

@BigWaylon

That’s simply not true. A trust may make it easier, but the item will transfer tax free to an heir on a ATF Form 5 (see check boxes in Section 1) without a trust. Even with a trust, you may need to go through the F5, depending on position heir holds (trustee vs beneficiary) and how the trust is written.

There are several advantages of going the trust route. Avoiding the $200 transfer to your kids when you die isn’t one of them (a fact a majority of people don’t know when they’re getting into the NFA game).

Good to know, my father and I created a trust together to avoid $200 transfers in the next decade or so, didnt know about the Form 5.

[sac]

Thank you for the replies, so far its looking good.

[scottryan]

@N.Franklin

Good to know, my father and I created a trust together to avoid $200 transfers in the next decade or so, didnt know about the Form 5.

Another example of why we have 41p

[Turnkey11]

Really?

[scottryan]

@Jer

You beat me to it. Lawyers have done a fantastic job of convincing the community that we need to give them our money but the fact of the matter most people don’t even realize what a trust can and cannot do or why they may or may not need one. Unfortunately there are people who can’t get CLEO sign-off and that’s the single biggest reason and that loop hole is going to be closed because everyone is abusing it which has brought WAY too much attention to it. I’ve got dozens of NFA items registered personally and they all perform exactly as they would if they were on a trust. I rest easy at night knowing that if anything happens to me someone close to me is getting a nice collection of NFA items w/o having to pay a dime.

100% correct answer

[Jer]

@scottryan

100% correct answer

It seems that some of us Nebraskans still possess some degree of common sense.

[sac]

@scottryan

100% correct answer

@Jer

It seems that some of us Nebraskans still possess some degree of common sense.

So where is the best place to get pro’s and con’s on which is the best way to go? I figured the trust would be better so the wife could use the suppressor also?

Thanks Scott

[markm]

@sac

So where is the best place to get pro’s and con’s on which is the best way to go? I figured the trust would be better so the wife could use the suppressor also?

Who is going to care if your wife uses the can? Especially in IA.

Now… I don’t keep my friends’ cans at my house if I’m working on their guns… just to be extra cautious… but within immediate family, I don’t see anyone giving a crap.

[Jer]

@sac

So where is the best place to get pro’s and con’s on which is the best way to go? I figured the trust would be better so the wife could use the suppressor also?

Thanks Scott

IMHO, if you can get CLEO sign-off then you don’t need a trust. Simple as that. There is absolutely zero case law to support any spouse ever even being charged for being in ‘possession’ of an NFA item w/o the registered spouse present. This idea that you’re not home and your wife has to use your NFA item to protect herself and the kiddos and then being charged with criminal possession of an NFA item in a clean shoot is ridiculous and completely fabricated by fear mongering lawyers trying to get your hard earned money. It’s your money and you can do whatever you like but personally I only jump through the hoops that I HAVE to to exercise my freedoms. If you don’t make a hoop or the hoop defies common sense then I’m not interested.

[sac]

@markm

Who is going to care if your wife uses the can? Especially in IA.

Now… I don’t keep my friends’ cans at my house if I’m working on their guns… just to be extra cautious… but within immediate family, I don’t see anyone giving a crap.

I see your point. I thought the way the law was, if it was registered to me I was the only one that could use it, but in a trust all people in the trust could use it legally.

[Ryno12]

@Jer

…Unfortunately there are people who can’t get CLEO sign-off and that’s the single biggest reason and that loop hole is going to be closed because everyone is abusing it which has brought WAY too much attention to it.

So what’s the alternative if a CLEO won’t sign off? Certainly, you can’t blame someone for going the trust route in that situation.

[Jer]

@Ryno12

So what’s the alternative if a CLEO won’t sign off? Certainly, you can’t blame someone for going the trust route in that situation.

Where in my posts did I say that nobody should do it? I believe I was quite specific in my posts already about this exact instance.

[markm]

@sac

I see your point. I thought the way the law was, if it was registered to me I was the only one that could use it, but in a trust all people in the trust could use it legally.

Yeah. It’s complete insanity. Around here, nobody even looks at you if you have a can or an SBR because they’re so common. I’ve never heard of anyone having their forms or papers checked for anything. No one I shoot with even has copies of papers with them.

[sac]

@Jer

IMHO, if you can get CLEO sign-off then you don’t need a trust. Simple as that. There is absolutely zero case law to support any spouse ever even being charged for being in ‘possession’ of an NFA item w/o the registered spouse present. This idea that you’re not home and your wife has to use your NFA item to protect herself and the kiddos and then being charged with criminal possession of an NFA item in a clean shoot is ridiculous and completely fabricated by fear mongering lawyers trying to get your hard earned money. It’s your money and you can do whatever you like but personally I only jump through the hoops that I HAVE to to exercise my freedoms. If you don’t make a hoop or the hoop defies common sense then I’m not interested.

Thanks that clears up alot.