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Re: trust, llc, or outright ownership?

Posted: Thu May 15, 2014 12:58 pm
by hntrpat1
My buddy did a trust and my name and other very close people on it.

Re: trust, llc, or outright ownership?

Posted: Thu May 15, 2014 1:13 pm
by teul2
hntrpat1, did you have to go through the background check as well?

Re: trust, llc, or outright ownership?

Posted: Thu May 15, 2014 3:58 pm
by Rowdy53103
I don't think anyone listed in the trust has to have a background check or CLEO sign off. That is what ATF 41P is trying to change.....so that everyone listed on the trust will have to undergo a background check and get CLEO sign off. I don't think anyone really knows if and when 41P will go into effect.

http://www.guntrustlawyer.com/ATF%2041P ... Change.pdf
http://www.guntrustlawyer.com/2014/04/s ... n-41p.html

Re: trust, llc, or outright ownership?

Posted: Thu May 15, 2014 8:18 pm
by WeBeJeepin
Go with a trust. It is easy to amend to add more toys and more people on it.

Re: trust, llc, or outright ownership?

Posted: Fri May 16, 2014 7:42 am
by hntrpat1
teul2 wrote:hntrpat1, did you have to go through the background check as well?
Nope I didn't even know he was adding me. He just called and said good news you can own my sbr's and suppressors when I die or borrow them anytime

Re: trust, llc, or outright ownership?

Posted: Fri May 16, 2014 11:41 am
by randywallace
You dont want to go with an llc unless you have some other business purpose for the llc. An llc requires that you file an annual report with MS Secretary of State. If you fail to file, the SOS can revoke your llc and then you are illegally in possession of the gun. Not a good way to go about it.

Re: trust, llc, or outright ownership?

Posted: Sat May 17, 2014 4:09 am
by mudsucker
WTF? Someone getting a side job as an assian? Why would one need a suppressor for any other reason? :?

Re: trust, llc, or outright ownership?

Posted: Sat May 17, 2014 7:04 am
by booger
mudsucker - open your mind, "get outta the box".

If all my guns had suppressors I'd be fat and happy. No more ringing ears, hasslin' with ear plugs, muffs, etc.

I do a lot of shooting, some of it off of my back porch. Nearest neighbor is about 1/4 mile away but there are churches within earshot. Just being a respectable guy I try to avoid blasting away at inappropriate times, Easter Sunday, early a.m. or after dark. I have a lighted range so night shooting is not uncommon. Not to mention vermin get dispatched after dark. Perhaps you need to take out two beavers, wait for it...............drop one silently, line the other one up, two down. You would not get the second beaver without a suppressor.

With a suppressor no one knows your business. Say I deer hunt, nobody in the next club over needs to know that I'm hunting, where my stand is or when I shot. I don't like people knowing my business.

If you had a neighbor that shot a lot you might even pass the hat and buy him a suppressor. :D

As an aside, have you country living folks noticed that when someone get's to blasting away, everyone else has to light 'em up too? It reminds me of coyotes & dogs getting to howling marking their territory.

Maybe I need to get out more. :oops:

Re: trust, llc, or outright ownership?

Posted: Sat May 17, 2014 8:07 am
by Wildfowler
Just think if they had suppressors for shotguns. Imagine duck hunting deep within the bowels of your favorite refuge.

You and two of your buddies burn them up good and quick like one morning. No one else is going to race you to the hole next morning because they didn't hear you.

When someone develops one that can work with birdshot I want to be first in line.

Re: trust, llc, or outright ownership?

Posted: Mon May 19, 2014 11:20 am
by hntrpat1
Wildfowler wrote:Just think if they had suppressors for shotguns. Imagine duck hunting deep within the bowels of your favorite refuge.

You and two of your buddies burn them up good and quick like one morning. No one else is going to race you to the hole next morning because they didn't hear you.

When someone develops one that can work with birdshot I want to be first in line.
They've been made

Re: trust, llc, or outright ownership?

Posted: Mon May 19, 2014 11:27 am
by chevy01234
mudsucker wrote:WTF? Someone getting a side job as an assian? Why would one need a suppressor for any other reason? :?

Please tell me this isn't a serious question?

Re: trust, llc, or outright ownership?

Posted: Mon May 19, 2014 11:50 am
by Hambone
randywallace wrote:You dont want to go with an llc unless you have some other business purpose for the llc. An llc requires that you file an annual report with MS Secretary of State. If you fail to file, the SOS can revoke your llc and then you are illegally in possession of the gun. Not a good way to go about it.
One clarification: filing the annual report is done on-line and is free of charge. It takes about 5 seconds.

Re: trust, llc, or outright ownership?

Posted: Mon May 19, 2014 8:30 pm
by Wildfowler
hntrpat1 wrote: They've been made
Got a link by chance?

Re: trust, llc, or outright ownership?

Posted: Mon May 19, 2014 10:43 pm
by 4dawgma
Wildfowler wrote:
hntrpat1 wrote: They've been made
Got a link by chance?
Image

Re: trust, llc, or outright ownership?

Posted: Tue May 20, 2014 7:04 am
by Wildfowler
4dawgma wrote:
Wildfowler wrote:
hntrpat1 wrote: They've been made
Got a link by chance?
Image
Great movie!!