Dealer involvement when transferring items from one trust to another....

[Reagans Rascals]

I have a trust with NFA items on it. The trust was originally made in VA. I have since moved to MS. I have already filed the proper paper work (Form 5320.20) to change addresses. However, after attempting to purchase an NFA item in MS, I was informed that my VA trust is no longer valid and I would have to create a new one for MS. I would like to keep my items consolidated on the same trust, and as such my question is:

Do you have to involve a dealer when transferring items you currently own, to yourself on another trust? If so, its a no go as I am not going to be without items I've already waited 9+ months for in some cases, just for simplicity's sake. I understand it would cost another $200 per item to transfer from one trust to the other, and obviously thats not ideal however I would be be willing to do it, over time, bit by bit, if it did not involve giving my item to a dealer and letting it sit in their possession for another 3-4 months.

Also, has anyone experienced changing states with a Trust and then attempted to purchase NFA items with their original trust? Is there someway to amend the trust to allow for legality in multiple states?

Any info would be appreciated, would greatly appreciate any SOT's chiming in with personal knowledge...

[themonk]

Your trust is valid. To my knowledge, all you need to do is amend the trust for MS and you are good to go.

You do not need involve a dealer for the transfer to yourself. You just fill out the forms, pay the tax and wait. If needed, you would do this after you make the address change.

Who did your trust?

[BigWaylon]

Just a note...if you've already moved, and don't have approved 5320.20 forms, you're breaking federal law (except for suppressors and AOWs).

As mentioned, no dealer would be involved.

Depending on the number of items you have, it's probably cheaper to have a lawyer in MS look over your trust for any missing state-level requirements, and just amend the trust instead of starting over and transferring them.

Did the dealer mention why it wasn't legal? Simply the address? That's not a good reason, but you could also change that with an amendment. Most trusts shouldn't have an address anyway, even though addresses may be included in helping to identify trustees & beneficiaries.

[BBossman]

Consult a lawyer. That said, your VA based trust is still valid for the items already on it. You may need a new trust for future purchases, but transfers of items from your old trust to a new trust or yourself will cost you the transfer tax on each item you move.

Sent from my PG41200 using Tapatalk 2

[Reagans Rascals]

I had approved 5320.20's in hand before I moved, and also I was told by the ATF they are not required for suppressors... although I still completed them just to be safe.

My VA trust has no address, however a trust has to abide by state laws particular to where you live in order to be valid. My trust has verbiage specific to VA law to prove validity, such as who gets what, who can do what, probate and so on and so forth. That being said, it does not specifically state MS law, codes, statutes or provisions pertaining to trust law, so I assume that is why I was told it wasn't valid for this state.

From what I have read from the ATF, as long as the trust set up in one state meets or exceeds the minimum requirements in another state, it is valid there also. I am just unsure as to how to go about amending it, and what specific verbiage must be stated. I would like to amend the trust to be valid in all states but Maine (Maine has a funky gun trust law), so I guess I will have to track down an MS lawyer that specializes in NFA...

My trust was made by Laurel T. Edwards in Richmond, VA. Currently waiting for a response from her regarding how to amend or if it is necessary.

[jmoney]

You are all assuming his trust was legal in the first place, many of these junk form trusts create a lot of problems. Take your issue to an NFA attorney, he will be able to sort it out.

[eodinert]

many of these junk form trusts create a lot of problems.

I've been looking for first hand examples of these problems, and I seem to be looking in the wrong places.

[jmoney]

I've been looking for first hand examples of these problems, and I seem to be looking in the wrong places.

Ask some attorneys, there are plenty of stories

[Reagans Rascals]

You are all assuming his trust was legal in the first place, many of these junk form trusts create a lot of problems. Take your issue to an NFA attorney, he will be able to sort it out.

Excuse me?

I just stated I had an NFA attorney complete my trust. If my so called "junk trust" wasn't legal the NFA would have simply denied my forms, plain and simple.

Read more, talk less and maybe you wont come off as abrasive next time.

[jack crab]

However, after attempting to purchase an NFA item in MS, I was informed that my VA trust is no longer valid and I would have to create a new one for MS.

What are the legal qualifications of this person to pass judgment on the validity of your trust?