Im sure someone here who has done it will have more knowledge than I, but you create a revocable living trust and purchase the items through the trust instead as an individual. There's just as much paperwork; you just dont need the CLEO signature, fingerprints, and photos.
How to create the trust, Ive heard of people doing it suceesfully with Quicken Willmaker. Persoanlly, unless you're well versed in the area. Id find an attorney to write one up.
I did a little bit of research into this awhile back as I eventually want to own some class III stuff. I found various websites online that allow you to set one up on your own for much cheaper like $200-100 or less. From talking to a few people that have revocable living trusts (none of them were using it for the same purpose), it sounded like it would generally cost somewhere around $400-600 to have a lawyer set one up. Honestly, I think it would be a better idea to go with a lawyer on this one, so that you know for sure all your i's are dotted and T's crossed. You don't want to screw up anything with class III stuff because, judging by what I've seen and read online, the ATF tends to be very unforgiving even if something is an honest mistake.
The reason the trust route works and has worked is because in legal jargon a trust is considered an "individual".
When I re did my Will, I had the lawyer do a Trust and had the paperwork switched to it . and it only added a small amount to the bill to have it done. it also made it easier for my girls to sell or keep if they wanted to my Class 3 items.
I left a message on the web form yesterday for Mitsy regarding setting up a trust. The phone number was a message and I will leave something there if i hear nothing today.I purchased a new can but want to set things up in trust instead of corporation for a change.