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 Individual or Trust, and your thoughts on political climate? 

Form 1: Individual or Trust?
Individual 33%  33%  [ 2 ]
Trust 67%  67%  [ 4 ]
Total votes : 6

 Individual or Trust, and your thoughts on political climate? 
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Location: Kirkland
Joined: Fri Jul 22, 2016
Posts: 44
Let's talk SBRs. What is the general consensus on going individual Form 1 vs. setting up a trust? Are there any clear benefits for one over the other, aside from being able to list multiple beneficiaries on the trust? Cost, procedural steps, approval timelines?

Current political inertia considered, is this something I should even try to begin?


Sat Mar 03, 2018 10:16 am
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Location: Renton, WA
Joined: Sun Mar 13, 2011
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Real Name: Steve
Yes, do it, don't worry about the political climate at least from that perspective.

Right now, approval times for individuals are a LOT less than approval times for trusts. Maybe six months versus a year, something like that.

I would say that the benefit of doing it as an individual is the reduced approval time, and the fact that you don't need to set up a trust.

The benefits of a trust range from "minimal" to "a gift from the heavens," depending on who you believe. It can be a contentious issue, so hopefully we can keep any discussion polite and helpful. Take a look at some of our past threads; you can probably skip those that are related to 594:
https://www.google.com/search?rls=en&q= ... 8&oe=UTF-8

For me personally . . . I have the silver trust from NW Gun Law Group. I have never regretted getting it, and any future purchases will also be on my trust even if I need to wait longer for approval

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Legal Action Supporter, Firearms Policy Coalition
Please support the organizations that support all of us.

Leave it cleaner than you found it.


Sat Mar 03, 2018 11:02 am
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MadPick wrote:
Yes, do it, don't worry about the political climate at least from that perspective.

Right now, approval times for individuals are a LOT less than approval times for trusts. Maybe six months versus a year, something like that.

I would say that the benefit of doing it as an individual is the reduced approval time, and the fact that you don't need to set up a trust.

The benefits of a trust range from "minimal" to "a gift from the heavens," depending on who you believe. It can be a contentious issue, so hopefully we can keep any discussion polite and helpful. Take a look at some of our past threads; you can probably skip those that are related to 594:
https://www.google.com/search?rls=en&q= ... 8&oe=UTF-8

For me personally . . . I have the silver trust from NW Gun Law Group. I have never regretted getting it, and any future purchases will also be on my trust even if I need to wait longer for approval


This...on all points.

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Sat Mar 03, 2018 11:18 am
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MadPick wrote:
Yes, do it, don't worry about the political climate at least from that perspective.

Right now, approval times for individuals are a LOT less than approval times for trusts. Maybe six months versus a year, something like that.

I would say that the benefit of doing it as an individual is the reduced approval time, and the fact that you don't need to set up a trust.

The benefits of a trust range from "minimal" to "a gift from the heavens," depending on who you believe. It can be a contentious issue, so hopefully we can keep any discussion polite and helpful. Take a look at some of our past threads; you can probably skip those that are related to 594:
https://www.google.com/search?rls=en&q= ... 8&oe=UTF-8

For me personally . . . I have the silver trust from NW Gun Law Group. I have never regretted getting it, and any future purchases will also be on my trust even if I need to wait longer for approval



Do you put non-NFA firearms on your trust as well or do you hold them privately outside the trust?

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"Half the harm that is done in this world is due to people who want to feel important. They don't mean to do harm -- but the harm does not interest them. Or they do not see it, or they justify it because they are absorbed in the endless struggle to think well of themselves." – T.S. Eliot

"The right of self defence is the first law of nature: in most governments it has been the study of rulers to confine this right within the narrowest limits possible. Wherever standing armies are kept up, and the right of the people to keep and bear arms is, under any colour or pretext whatsoever, prohibited, liberty, if not already annihilated, is on the brink of destruction." - St. George Tucker

A careful definition of words would destroy half the agenda of the political left and scrutinizing evidence would destroy the other half. - Thomas Sowell

"To ban guns because criminals use them is to tell the innocent and law-abiding that their rights and liberties depend not on their own conduct, but on the conduct of the guilty and the lawless, and that the law will permit them to have only such rights and liberties as the lawless will allow...

For society does not control crime, ever, by forcing the law-abiding to accommodate themselves to the expected behavior of criminals. Society controls crime by forcing the criminals to accommodate themselves to the expected behavior of the law-abiding." - Jeff Snyder

Personal weapons are what raised mankind out of the mud, and the rifle is the queen of personal weapons. The possession of a good rifle, as well as the skill to use it well, truly makes a man the monarch of all he surveys. It realizes the ancient dream of the Jovian thunderbolt, and as such it is the embodiment of personal power. For this reason it exercises a curious influence over the minds of most men, and in its best examples it constitutes an object of affection unmatched by any other inanimate object.

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1997 The Art of the Rifle Page 1.

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SUGGEST CASE BE SUBMITTED ON APPELLANT'S BRIEF. UNABLE TO OBTAIN ANY MONEY FROM CLIENTS TO BE PRESENT & ARGUE BRIEF.

The defense attorney's telegram to the clerk of the Supreme Court, March 29, 1939, in re United States. v. Miller.

You don't need to go to Law School to understand the constitutional implications of that.

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MadPick wrote:
Bob Ferguson is a total piece of shit. Of this, I am convinced.

cityslicker wrote:
I don't want to be told that I can't remove the tree by some tree-hugging pole smoker from the eat-a-dick foundation/Olympia/King County.

WARNING: I DEBATE IGNORAMUSES FOR MY OWN ENTERTAINMENT


Sat Mar 03, 2018 11:52 am
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Location: Renton, WA
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Real Name: Steve
My non-NFA firearms are also on the trust. Both of them.

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Steve

Benefactor Life Member, National Rifle Association
Life Member, Second Amendment Foundation
Life Member, Gun Owners of America
Life Member, Citizens Committee for the Right to Keep and Bear Arms
Legal Action Supporter, Firearms Policy Coalition
Please support the organizations that support all of us.

Leave it cleaner than you found it.


Sat Mar 03, 2018 11:54 am
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MadPick wrote:
My non-NFA firearms are also on the trust. Both of them.


I see what you did there. :wagwoot:

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Sat Mar 03, 2018 1:04 pm
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usrifle wrote:
MadPick wrote:
My non-NFA firearms are also on the trust. Both of them.


I see what you did there. :wagwoot:
I see what he did there too, and it sounded like a COC#8 violation to me :D


Sat Mar 03, 2018 9:27 pm
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I personally have everything in trusts or my business (07 ffl). The main advantage of a trust comes when you die rather then when you're alive. A trust bypasses a lot of the crap that comes with probate and you can put the people you want to give your guns too after you dies as trustees, which lets them skip the whole probate process and just transfer them from the trust to them or their trust when that day comes (with the usual 4473 background check done by a dealer for those in Washington to facilitate the transfer of ownership, even if it's from you to you, just as different legal entities). As stated, personal transfers are several moths faster but when you pass, has to be transferred on a form 5 after the probate process is completed, all the while the gun(s) are held by the executor rather than the person who actually is receiving it until ATF puts that stamp on the form. If you intend to actually use your guns and silencers, it makes little to no difference because some estates are beginning to just turn over worthless/well used items to ATF and not bother trying to deal with the hassle for a lead filled and worn out tube or worn out form 1'd lower, but valuable/rare/collectible/revenue generating/appreciating items should be placed in a trust to make the next generations life a little easier. That my .02 cents on the whole personal vs trust discussion.

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I'm a firearms manufacturer with a 07 FFL.


Tue Mar 06, 2018 12:54 am
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