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Trust for someone that moves alot

Discussion in 'Class III / NFA' started by TundraWookiee, Sep 29, 2013.

  1. TundraWookiee

    TundraWookiee Scruffy Nerf Herder TGT Supporter

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    Jan 9, 2012
    Cedar Park
    I really only know the basics of NFA trusts and have never dove into that world yet. I have a great time shooting everyone else's stuff but it didn't grab me enough to buy my own for the longest time. Recently I've become more interested in getting some suppressors and maybe an SBR but there is one big question I have regarding an NFA trust. Wouldn't you have to make a new trust and transfer all items anytime you changed residency to another state? Is there any other option for people that move alot such as a corporation? Or do the same rules still apply?

    I tend to move alot and will probably leaving the state (or country) again in less than a year and want to know what options I might have. If I were to form something here in the US and move overseas for awhile would I be able to keep those items in the US while abroad?
     


  2. Sugar Land

    Sugar Land TGT Addict TGT Supporter

    Apr 7, 2012
    Sugar Land Texas
    Good question Wook. Subscribed. I am thinking about moving to Fort Bend. Hope that someone in the know will chime in.
     
  3. locke_n_load

    locke_n_load Well-Known

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    Apr 9, 2013
    Houston, TX
    Yeah I'm also wondering if I move cities in Texas if I still put the original city on trust/SBR or if I have to update Trust. Subscribed.
     
  4. SC-Texas

    SC-Texas Moderator Moderator

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    Houston, TX
    You may move in and out of state. Not a problem. Need a 5320.29 if moving out of state
     
  5. cbigclarke

    cbigclarke TGT Addict

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    cypress
    your confusing me
     
  6. Sugar Land

    Sugar Land TGT Addict TGT Supporter

    Apr 7, 2012
    Sugar Land Texas
    How about moving in state?
     
  7. TSU45

    TSU45 Active Member

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    What about moving while you have an item pending?
     
  8. medalguy

    medalguy Active Member

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    New Mexico
    Moving instate only requires a letter to BATF with the new address. It's really a courtesy notification and not required by law, but.....Moving to another state is different. First, does the new state have any restrictions on NFA ownership? Many states won't allow them. Second, you must file a Form 5320.20 requesting permission BEFORE moving an NFA item across state lines. Third, a trust established in one state may or may not be valid in another state. It depends on each state law and how well the trust document is written. This is a very good reason to have your trust written by someone well versed in state laws for trusts. I recently moved from Texas to New Mexico. I contacted an attorney in New Mexico to determine if any changes needed to be made in my trust as a result of different state laws. The attorney said the trust was valid under New Mexico law because of several requirements in my trust and no changes were necessary. If your trust document doesn't meet the requirements of your new state, a completely new trust MIGHT have to be written, AND THIS WOULD REQUIRE EVERY NFA ITEM TO BE TRANSFERRED TO THE NEW TRUST. Very expensive to do when you own a lot of NFA items. If you move out of the US you could leave the weapons with a trustee, no problem.
     
    Last edited: Oct 8, 2013

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