Altering trust when moving to a new state?

[Reagans Rascals]

What are the requirements for me to continue to purchase NFA items with my current trust if I have recently moved to a new state? My initial trust with which I've purchased my current NFA items was created for and has specific verbiage for Virginia statues and etc. Now that I have moved to MS, how do I go about utilizing my trust? I assume I will need to have a completely new trust drawn up for MS... Is there a way to alter my original trust document, legally as per the ATF, to allow me to use it wherever I end up regardless of state? If not and I am required to have a second trust drawn up, how do I go about combining the two so all my NFA items/weapons are contained within one single trust?

[BBossman]

I would contact the attorney that drew up the trust originally, but my understanding is that it is still valid in your new state. You could create a new trust for future purchases, but if you create a new trust, and want your current items on one trust, you would have to transfer each NFA item and pay the tax on each one.

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[Tigereye]

The original attorney may have a contact in MS who could help. My trust was done by Ben Jarrell in Huntsville, AL. The laws for MS and AL may be similar or he may know a gun trust lawyer in MS. His number is 256-713-4383.
Eric

[Eurodriver]

A trust is a piece of paper. It doesn't really matter if each of your weapons are owned by separate trusts or they are all on one. I wouldn't sweat getting them all on the same trust.

However, if you want them all under one you should contact an attorney. They know some funky ways of restating and amending trusts in order to avoid having you transfer all of your old assets to the new trust. What they did for me, and I'm getting very basic, was to "split" my existing trust in two. The "old/#2" trust was given $1 and still exists, I guess, but I never use it. The "new/#1" trust was given all of my NFA items. However, because it wasn't really a "new" trust, just a "restated" original trust I did not have to pay to transfer it to a "new" trust. Your state laws may not allow this, however.

[nova3930]

I would def get the advice of an attorney. Trusts can vary significantly state to state. A few bucks now to avoid 10 in the klink is cheap insurance.



The original attorney may have a contact in MS who could help. My trust was done by Ben Jarrell in Huntsville, AL. The laws for MS and AL may be similar or he may know a gun trust lawyer in MS. His number is 256-713-4383.
Eric

Mr. Jarrell did mine as well. Very knowledgable about the whole process, very professional and easy to work with. Anyone needing guidance could do a lot worse than him.

[TehLlama]

Trust restatement isn't so straightforward that I'd want to go it alone - on the bright side, for a good lawyer in the right field it's a really comparatively simple task (but for the other 90% of lawyers it'll be needlessly complicated - ask my why I have such a low opinion of supposed professional degree holders).

[DrRansom]

I just had a long conversation about this with a trust lawyer, and what it boils down to is this - the trust still applies, but you cannot use the trust to do things that you would not normally be able to do as an individual. For example, having an NFA trust with suppressor property would not allow you to bring cans into your new state if it does not allow suppressors.

You should of course consult your attorney, and without seeing the specific verbage with respect to the state-specific stuff you mention it's tough to say, but in general, I would hope you wouldn't have to create an entirely new trust. IME, it's not necessary, but here it probably depends on just exactly what's written.

[english kanigit]

I've been doing some searching around and there's not a lot of information on this. I've been told that for the most part simply filing a form 5320.20 for permanently moving the specified 'devices' will suffice and then carry on with business as normal.

My question is how to mark any receivers in the new state that I might file a Form 1 on. Should the engraving be for the point of origination for that legal entity (the trust) or it's current location?


Ek

[BigWaylon]

I've been doing some searching around and there's not a lot of information on this. I've been told that for the most part simply filing a form 5320.20 for permanently moving the specified 'devices' will suffice and then carry on with business as normal.

My question is how to mark any receivers in the new state that I might file a Form 1 on. Should the engraving be for the point of origination for that legal entity (the trust) or it's current location?
The Form 1 (and subsequent engraving) was a one-time acting of making a firearm. There's no reason to make any changes to either of those items after the fact.

For that matter, the city/state on the F1 doesn't even have to match the city/state engraved. The F1 info is a mailing address. The engraving is the location the firearm was actually made...which could be a different city, or even a different state (with the use of a 5320.20 interstate transport form). Either way, the city/state engraved has nothing to do with the trust itself.

[veeklog]

I will be dealing with the same issues soon; I am moving my NFA Items from Florida to Idaho soon, and need to want to get everything on one trust and modify my trustees on the document