NFOA MEMBERS FORUM
General Categories => The NFA Corner => Topic started by: Wildgoose on August 31, 2012, 11:11:35 PM
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Finished M92-Built as a pistol and converted to full SBR Krink.
(http://i4.photobucket.com/albums/y113/GuzziRider/IMGA0121.jpg)
(http://i4.photobucket.com/albums/y113/GuzziRider/IMGA0122.jpg)
Done stamp collecting for a while.
(http://i4.photobucket.com/albums/y113/GuzziRider/IMGA0127.jpg)
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Looks good! I've been thinking of building an SBR myself for some time now. Just not sure if I want to go the trust or CLEO route. Still weighing the cost/benefit of each.
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Those turned out really nice.
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it looks beautiful!
go the trust route! it has numerous advantages, plus i hear the CLEO is supposed to go away..... sometime.
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And when the CLEO route goes away, that means one less hurdle. Only federal approval needed.
The trust route is something people use to get around the CLEO and it is going away CLEO.
In Omaha go CLEO. If you do trust or corp. remember you do not own the gun, the trust or corporation does.
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I go trust so my wife and brother can use my toys when I am not there. Also being the the military, if I move to a state that doesnt allow my stuff, I can add my mom to the trust and leave them with her.
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I go trust so my wife and brother can use my toys when I am not there. Also being the the military, if I move to a state that doesnt allow my stuff, I can add my mom to the trust and leave them with her.
This is an often overlooked benefit of the trust. My wife and I are both trustees, so either one of us can have physical possession of our NFA items. It also simplifies the inheritance of the items after you kick the bucket.
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Does not simplify in a divorce. You don't own it she don't own it, someone's got to fold the cards.
Then the items have to tax paid transfer again.
In the CLEO case she can not take the asset you already own it, you might have to pay her some monetary value at worst.
CLEO is so easy, get pulled over by the police, if you are shooting local most likely it is the officers boss who signed the bottom of your forms.
A lot of people have drunk the trust Kool-Aid, if you go that route use a real Trust Lawyer who actually knows how to do a gun specific trust. Google search Gun Trust Lawyer for more info.
Let's pretend your brother's girlfriend files a restraining order against him and tells the PoPo he has guns at other locations, now you have a prohibited person who is listed to possess your firearms assets.
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my lawyer put stipulations in the event of a divorce. do it right or do it twice.
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Would have gladly done CLEO but as with many other things just not an option living here in Lincoln. :(
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Very nicely done, that is a pretty pair. Did you do the work yourself?
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Very nicely done, that is a pretty pair. Did you do the work yourself?
Yes, both guns were complete demilled kits. I did go with NDS recievers though. Rest of the assembly,paint and wood is mine. I dont do builds anymore as complete kits have become too expensive post barrel ban. Tanks for the complement.
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A lot of people have drunk the trust Kool-Aid, if you go that route use a real Trust Lawyer who actually knows how to do a gun specific trust. Google search Gun Trust Lawyer for more info.
Let's pretend your brother's girlfriend files a restraining order against him and tells the PoPo he has guns at other locations, now you have a prohibited person who is listed to possess your firearms assets.
Hear hear.
This last scenario is a good illustration why it is important to provide in the trust document that an individual who becomes a prohibited person under state or federal law is no longer a trustee with the right to possess/use the trust property.
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Good info, and good points that I have never considered before. I went the CLEO route all three times out of simplicity. I knew the sheriff well and had no problem getting the signatures. By the third time I went in there he, before I could say a word, asked me if it was for another can.
Anywho, looks like I went the correct route.