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NFA Trust question


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Old 01-19-2014, 01:01 AM   #1
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Default NFA Trust question

I'll try to make this simple as I can. I am becoming a NFA Trustee to my best friends trust. I understand that as a trustee, I am allowed to possess items listed in the trust. Correct me if I'm wrong.

If want to buy a suppressor, as a trustee, can I add the suppressor to the trust or is the Settlor the only one who can add items to the trust?
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Old 01-19-2014, 01:08 AM   #2
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If want to buy a suppressor, as a trustee, can I add the suppressor to the trust or is the Settlor the only one who can add items to the trust?
Great question.
I have no idea.
Ask some of the more senior trust members?
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Old 01-19-2014, 01:18 AM   #3
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that is a very good question.

i know the person that has the trust can add or remove people from the trust and add or remove items to the trust. but as to whether a person named in the trust can or can't i don't know.
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Old 01-19-2014, 02:59 AM   #4
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Quote:
Originally Posted by Squawk View Post
I'll try to make this simple as I can. I am becoming a NFA Trustee to my best friends trust. I understand that as a trustee, I am allowed to possess items listed in the trust. Correct me if I'm wrong.

If want to buy a suppressor, as a trustee, can I add the suppressor to the trust or is the Settlor the only one who can add items to the trust?
I dont think you yourself can add items to the trust . Call the BATFE monday and ask . Thats the best way of being 100% sure
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Old 01-19-2014, 04:00 AM   #5
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Can you have two Settlors? Is there anyway through a trust that two people can buy and add NFA Items to a trust?
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Old 01-19-2014, 01:22 PM   #6
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Good morning bump
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Old 01-19-2014, 01:31 PM   #7
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I think you can add to the trust as a co-trustee. My wife is on mine as a co-trustee and she has her own assignment page to add items. Definitely check with the BATFE or the lawyer who wrote the trust.
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Old 01-29-2014, 01:09 AM   #8
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Finally got a call back from the BATFE.

As long as it is worded in the trust that co-trustees can add items to the trust, then it is fine.
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Old 01-29-2014, 08:26 PM   #9
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Quote:
Originally Posted by Squawk View Post
Finally got a call back from the BATFE.

As long as it is worded in the trust that co-trustees can add items to the trust, then it is fine.
My opinion get your own trust. I wouldn't be on a nfa trust with someone I wasn't married to for a good while... that whole thing of going into business with friends thing.
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Old 01-29-2014, 10:34 PM   #10
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This is more like a brother. We have known each other since we were in diapers. I trust him more than most of my family.
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