Current ATF wait time? - Page 50

3rdGenAg05

Joined: Apr 14, 2013

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In reply to txags92 • 11:55a, 5/16/24

AG

txags92 said:
So speaking of trusts, what is the process for adding somebody to a trust? Right now my trust is just me, with my wife as heir to the trust. How easy is it to add her as a member of the trust?

Assuming you had an attorney create the trust, just have them amend it. It's simple. I'm sure the attorney will charge you a small fee. Depending on her "status" (not sure of correct legal jargon) on the trust, she may have to get fingerprinted, etc.

FamousAgg

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In reply to 3rdGenAg05 • 4:22p, 5/16/24

****Not a Lawyer *****
My trust came with a form that is filled out to add someone and another that is filled out to remove someone. I don't think they have to be photographed or printed until you add something new the trust. I think if property is already part of the trust they don't have the be printed and all that to join, only when we things are added

FTAG 2000

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In reply to 3rdGenAg05 • 5:17p, 5/16/24

AG

3rdGenAg05 said:
Individual on this one. My other stuff is in a trust. I'll transfer this one to the trust eventually and pay another $200. I just know the individuals are getting approved really fast right now, so I can have it now and possess it the entire time I'm waiting for it to transfer to family trust…that was worth an extra $200 to me.

Famous covered the pros/cons from my perspective. Family Trust allows more members of our family to own and possess them, including kids once they're of age.

Thanks. I've got a trust already, was just pondering doing an individual one to get one quicker like you.

Was trying to figure out what I'm missing or what the negatives are outside of the additional tax.

ttha_aggie_09

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In reply to FTAG 2000 • 5:23p, 5/16/24

AG

At this rate, I'm just going to buy my next ones under the trust. If it was days like others on here, great. Since it is at least a month and a half now, I might as well do the trust and just wait 7-8 months and avoid a $200 transfer fee later.

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ttha_aggie_09

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In reply to FamousAgg • 6:10p, 5/16/24

AG

Not a lawyer or an expert but my trust is revocable and I've pulled people off before in the past and using the 41f amendment (I think that's what it's called) to do so. The way I understand it is that I can add or remove people from the trust at my discretion and doing so can help alleviate the need to get everyone fingerprinted on the trust every time a new item requiring a tax stamp is purchased.

Jwl06

Joined: Apr 21, 2017

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12:52p, 5/17/24

I'll chime in with my experience for everyone debating individual vs trust. Submitted eforms for 1 purchased from silencer shop on 2/20/24 and 2 purchased from primary arms on 3/16. I used SS single shot trusts for all. Approved for all 3 on 5/8.