Im about to start a trust, my first, for a couple of SBRs and one .22 can. With the upcoming NFA trust legislation about to go into effect, I just wanted to get some clarification.
Is the best wrought for me to take now would be to start a trust for each item instead of having all the items within the same trust? Also going forward vs the law how it stands now, If I decide to purchase another NFA item, I could simply create one trust for the item, remove all trustees before submitting my stamp application, and then add them back again correct w/o the trustees or beneficiaries needing to be photoghraphed and fingerprinted? In that event, he only thing the new law would have changed is the fact that I'd have to notify the CLEO correct?
Is the best wrought for me to take now would be to start a trust for each item instead of having all the items within the same trust? Also going forward vs the law how it stands now, If I decide to purchase another NFA item, I could simply create one trust for the item, remove all trustees before submitting my stamp application, and then add them back again correct w/o the trustees or beneficiaries needing to be photoghraphed and fingerprinted? In that event, he only thing the new law would have changed is the fact that I'd have to notify the CLEO correct?