When I was active duty, and shipped overseas, I made up a "power of attorney" for a fellow class III owner to hold my guns in his safe till I returned. I did, however, have a will to cover the possibility of my NOT returning. If you leave your state (in this case Georgia) , and the holder you choose is in another state, you MUST get PRIOR permission/approval from ATF to cross state lines. I used to do this every year to attend the machinegun shoot at Knob Creek. NEVER got turned down. I live in Alabama and chose a Class III friend in Florida to hold mine. No problem with approval. ATF approval form and power of attorney legalized all seven weapons. Hope this helps. :machinegun:
Lets talk Trusts...pros and cons
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I'm headed the trust route soon...
You and your wife would be trustees (of your trust... not mine
), but my understanding is that you can add someone else as a co-trustee in the event you need to go oversea. Your Trust could be set up so that the co-trustee cannot sell items from the trust by acting alone, but as a co-trustee could legally possess the collection. This is probably getting into advanced NFA trust territory, so an attorney should be consulted.
The LEO sign off is not a big deal for me either, but the whole hassle of photo, prints, sign off for each item is a PITA. Then there is the whole wife grey area.
Another option is a corporation, where you can have any number of corporate officers. The problem here is that your state will probably have an annual fee to register your corporation. Virginia has something called a business trust that is similar to a Trust in how it is created and managed and yet allows for multiple people to share in business interests. However, it too has an annual fee in Va.
I don't know of any issues in moving once the trust is created. The laws of the state where the trust is created prevail.
Do we have a resident attorney here?
You and your wife would be trustees (of your trust... not mine
), but my understanding is that you can add someone else as a co-trustee in the event you need to go oversea. Your Trust could be set up so that the co-trustee cannot sell items from the trust by acting alone, but as a co-trustee could legally possess the collection. This is probably getting into advanced NFA trust territory, so an attorney should be consulted.The LEO sign off is not a big deal for me either, but the whole hassle of photo, prints, sign off for each item is a PITA. Then there is the whole wife grey area.
Another option is a corporation, where you can have any number of corporate officers. The problem here is that your state will probably have an annual fee to register your corporation. Virginia has something called a business trust that is similar to a Trust in how it is created and managed and yet allows for multiple people to share in business interests. However, it too has an annual fee in Va.
I don't know of any issues in moving once the trust is created. The laws of the state where the trust is created prevail.
Do we have a resident attorney here?
1 - 9 of 9 Posts
