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PhillySVT 07-06-2011 11:18 PM

We have an LLC
Benefits:
No cleo sign off on every purchase (huge if you live in a place that refuses to do it like I do)
All of the members in the trust can take any weapon out to the range. I can't take any of my bro's sbr's or FA out with out him if they weren't part of the LLC
Disadvantages.....none so far.

We payed a lawyer $200 bucks?

Yes, I wish we got into NFA stuff before the prices sky-rocketed


Quote:

Originally Posted by Munky (Post 2013082)
For those of you with trusts I have a few questions. I know it was discussed here once before but I can't find it and don't feel like sifting through a few thousand posts. :o

What are the major benefits of having a trust?

What are the disadvantages (if any)?

What do you think is a reasonable price to pay to set one up for 2-3 people?

Would you do it again if you had to?

Thanks for any & all responses in advance. :mrgreen:


drifty240 07-06-2011 11:41 PM

Quote:

Originally Posted by PhillySVT (Post 2014251)
We have an LLC
Benefits:
No cleo sign off on every purchase (huge if you live in a place that refuses to do it like I do)
All of the members in the trust can take any weapon out to the range. I can't take any of my bro's sbr's or FA out with out him if they weren't part of the LLC
Disadvantages.....none so far.

We payed a lawyer $200 bucks?

Yes, I wish we got into NFA stuff before the prices sky-rocketed

Who actually owns the guns in the trust ? What happens if 1 member of the trust becomes a prohibited person?

Some of my toys that i am packing up to hit the range in the morning

http://i73.photobucket.com/albums/i2...240/3gunar.jpg

http://i73.photobucket.com/albums/i2...0/Parafal1.jpg

http://i73.photobucket.com/albums/i2...0/dsa1crop.jpg

http://i73.photobucket.com/albums/i2...fieldlw1-2.jpg

Munky 07-07-2011 04:09 AM

Quote:

Originally Posted by PhillySVT (Post 2014251)
We have an LLC
Benefits:
No cleo sign off on every purchase (huge if you live in a place that refuses to do it like I do)
All of the members in the trust can take any weapon out to the range. I can't take any of my bro's sbr's or FA out with out him if they weren't part of the LLC
Disadvantages.....none so far.

We payed a lawyer $200 bucks?

Yes, I wish we got into NFA stuff before the prices sky-rocketed


Thank you for the response. My next questions were going to be the ones drifty asked (he's who I'm starting the trust with).


Quote:

Originally Posted by drifty240 (Post 2014268)
Who actually owns the guns in the trust ?

What happens if 1 member of the trust becomes a prohibited person?

My other question would be do all the guns have to stay at one location, or could we each keep our guns at our own homes?

99corvette 07-07-2011 09:52 AM

Quote:

Originally Posted by drifty240 (Post 2014268)
Who actually owns the guns in the trust ? What happens if 1 member of the trust becomes a prohibited person?

Some of my toys that i am packing up to hit the range in the morning

http://i73.photobucket.com/albums/i2...240/3gunar.jpg

http://i73.photobucket.com/albums/i2...0/Parafal1.jpg

http://i73.photobucket.com/albums/i2...0/dsa1crop.jpg

http://i73.photobucket.com/albums/i2...fieldlw1-2.jpg

Quote:

Originally Posted by Munky (Post 2014311)
Thank you for the response. My next questions were going to be the ones drifty asked (he's who I'm starting the trust with).




My other question would be do all the guns have to stay at one location, or could we each keep our guns at our own homes?

My father owns the LLC at this time, but we are in the process of switching it so me and my brother own it. im pretty sure the firearms have to stay at the address of the LLC, ares due anyway so we never really looked into that, only time they are not there is when we go shooting or take them out to show friends. as far as someone becoming prohibited i dont see it being a problem unless its the owner of the LLC, since your can add or take people away from it at anytime.

Munky 07-07-2011 02:17 PM

Thanks for your responses! We'll keep ya informed on how it goes.


As for actual gun stuff...this will be boring for you NFA guys but for us still waiting it's all we have to hold on to :rofl:

Jay (drifty240) took me & my buddy from work to the range today (at 7am) so he could check out my GSG-5 that he's buying and so that we could play with Jay's new rifle. This is what ensued...

All video & pics shot with my Motorola Atrix...photobucket compressed the **** out of them tho.

Brandon shooting the GSG-5:

http://i46.photobucket.com/albums/f1...SG-57-7-11.jpg

All the guns we brought to the range today.
From left to right we have
Rifles: MSAR STG-556, GSG-5 .22lr, DSA FAL 308 Paratrooper, DSA FAL 308 & Stag Arms AR-15 3gun setup
Handguns: Springfield Armory XD-9 Tactical, H&R model 905 .22lr revolver, Springfield Armory 1911 Loaded Lightweight, Springfield Armory XD-40 Tactical 3gun setup, Walther P99

http://i46.photobucket.com/albums/f1...roup7-7-11.jpg

Jay sighting in his new scope:

http://i46.photobucket.com/albums/f1...AL7-7-11-1.jpg

Paused to take a quick shot of the table while Jay & Brandon went down for pistols.

http://i46.photobucket.com/albums/f1...able7-7-11.jpg

Brandon shooting Jay's Paratrooper:

http://i46.photobucket.com/albums/f1...nFAL7-7-11.jpg

Brandon shooting his H&R model 905 .22lr revolver:

http://i46.photobucket.com/albums/f1...lver7-7-11.jpg

Jay sighting in his scope and knocking over my XD-9 case. Luckily the gun was sitting on the table next to him :lol::

http://i46.photobucket.com/albums/f1...Case7-7-11.jpg

Jay shooting his Paratrooper:

http://i46.photobucket.com/albums/f1...yFAL7-7-11.jpg

Me shooting Jay's paratrooper:

http://i46.photobucket.com/albums/f1...eFAL7-7-11.jpg

PhillySVT 07-07-2011 07:48 PM

I have to clarify something....The firearms are owned by the LLC and should mostly be kept at that address. You can of course Have firearms not at the address for short periods of time. If anyone on the LLC is prohibited from being around firearms they must be removed from the LLC. No way to circumvent the law....if your not legally able to own a firearm I was under the understanding you couldn't be on the LLC....I will assume the trust is the same way. This isn't a way for a felon to own a firearm.

cmr076 07-07-2011 08:43 PM

Quote:

Originally Posted by Munky (Post 2013082)
For those of you with trusts I have a few questions. I know it was discussed here once before but I can't find it and don't feel like sifting through a few thousand posts. :o

What are the major benefits of having a trust?

What are the disadvantages (if any)?

What do you think is a reasonable price to pay to set one up for 2-3 people?

Would you do it again if you had to?

Thanks for any & all responses in advance. :mrgreen:

be VERY careful.... anything you put INTO it becomes the property of those who are part of the trust for the most part. If i were you I would make my own trust and have my friends make their own trust as well, you can make them offficers and vice versa so they can still use your guns without the possibility of them screwing you if you get in a fight

PhillySVT 07-07-2011 11:25 PM

Quote:

Originally Posted by cmr076 (Post 2014662)
be VERY careful.... anything you put INTO it becomes the property of those who are part of the trust for the most part. If i were you I would make my own trust and have my friends make their own trust as well, you can make them offficers and vice versa so they can still use your guns without the possibility of them screwing you if you get in a fight

Exactly....I don't think I wrote it at clear as you did.

Munky 07-08-2011 12:23 AM

Yeah obviously by the pics & videos we're both fully able to own firearms. We're just trying to figure out if all the guns have to stay in the same location (meaning if say we set it up using my address would all of drifty's guns have to reside here at my house...not that I would be complaining :lol:). The question about what happens IF someone becomes prohibited was more or less just to see what could happen IF one of us got into trouble...since it's never a guarantee that someone would stay out of trouble forever...sh*t happens type of thing ya know.

cmr076 07-09-2011 09:57 AM

Quote:

Originally Posted by Munky (Post 2014744)
Yeah obviously by the pics & videos we're both fully able to own firearms. We're just trying to figure out if all the guns have to stay in the same location (meaning if say we set it up using my address would all of drifty's guns have to reside here at my house...not that I would be complaining :lol:). The question about what happens IF someone becomes prohibited was more or less just to see what could happen IF one of us got into trouble...since it's never a guarantee that someone would stay out of trouble forever...sh*t happens type of thing ya know.

its not about you both being able to own guns, its the potential for a falling out down the road. The guns are supposed to stay with the person in charge of the trust, if you are an officer then you have access to them and can take them to use but they are supposed to reside at the (executor iirc) house. there must be a named beneficiary that exists at the time you create your trust as well.

No drifty's guns do not have to stay at your house. When you have a gun trust or LLC ALL the guns you and he own do not automatically fall into the trust. If he was to SBR one of his non NFA AR's and you wanted it in the trust (so avoid prints and sign off) thats one thing and then it should stay at your house.

please keep in mind IANAL and it has been a while since we figured all this out so I may be off with some of my information. and PLEASE also, for you and driftys sake consider making your own trusts... its a little more money but has the same benefits as sharing one with the added security of nothing happening to your guns if you and he do get into an argument/ unresolvable fight.

Munky 07-09-2011 11:59 AM

Quote:

Originally Posted by cmr076 (Post 2015303)
its not about you both being able to own guns, its the potential for a falling out down the road. The guns are supposed to stay with the person in charge of the trust, if you are an officer then you have access to them and can take them to use but they are supposed to reside at the (executor iirc) house. there must be a named beneficiary that exists at the time you create your trust as well.

No drifty's guns do not have to stay at your house. When you have a gun trust or LLC ALL the guns you and he own do not automatically fall into the trust. If he was to SBR one of his non NFA AR's and you wanted it in the trust (so avoid prints and sign off) thats one thing and then it should stay at your house.

please keep in mind IANAL and it has been a while since we figured all this out so I may be off with some of my information. and PLEASE also, for you and driftys sake consider making your own trusts... its a little more money but has the same benefits as sharing one with the added security of nothing happening to your guns if you and he do get into an argument/ unresolvable fight.

Yeah that's what we're planning on I believe (separate trusts). Waiting to hear back from a lawyer that our local gun shop/range put us in touch with. Especially if we have to keep the guns at one location that are a part of the trust. Cause it would be kinda pointless for either of us to keep our guns elsewhere since we work different schedules :lol:

Thanks for all the responses guys.

CleanNeon98 07-13-2011 10:06 AM

Ive come to realize my glock 19 is too big for me to concealcarry. Want to trade for something smaller. Its a gen 4, only 115 rounds fired through it, comes with all original stuff, 2 extra magazines, case, paperwork. Smaller glock or other compacts are what im after. Straight trade please, no cash on my end, and none needed from you, just want a comprable piece.

rodder 07-13-2011 12:39 PM

Quote:

Originally Posted by CleanNeon98 (Post 2016971)
Ive come to realize my glock 19 is too big for me to concealcarry.

Told you so.

neener neener :-p :)

Munky 07-14-2011 03:12 AM

Up your weight son! G19 is perfect for CC if you're not a lady. :wink:




Kidding...I find myself carrying my Bodyguard more than my G19 as of late but that's because I need deep concealment where I work so something the size of a smartphone is best.

blkZ06 07-14-2011 10:24 AM

g19 should be perfect, I've carried my g23 for years with no issues

99corvette 07-14-2011 11:55 AM

Quote:

Originally Posted by blkZ06 (Post 2017466)
g19 should be perfect, I've carried my g23 for years with no issues

+1, I carry a glock 23 daily

1988 Olds 07-14-2011 02:06 PM

Quote:

Originally Posted by CleanNeon98 (Post 2016971)
Ive come to realize my glock 19 is too big for me to concealcarry. Want to trade for something smaller. Its a gen 4, only 115 rounds fired through it, comes with all original stuff, 2 extra magazines, case, paperwork. Smaller glock or other compacts are what im after. Straight trade please, no cash on my end, and none needed from you, just want a comprable piece.

Alex,

I don't think a smaller glock would be that much better for you. I carry a Glock 26 most of the time and have carried my dad's 23 a few times as well and I don't notice to much difference except the length of the grip. That hits the seat in the car or if your sitting down somewhere. If thats your problem then you might benefit from the small gun. Thickness, weight and barrel length really don't come into play for me. If you'd like I'd be willing to let you try carrying/shooting my Glock 26 sometime. I think you'd be better off purchasing yourself a pocket pistol. I also have an Ruger LCP and I love it. Almost never leaves my pocket.

CleanNeon98 07-14-2011 02:13 PM

I have a thin waist so its too wide for me. Im not sure what to do yet, I may sell it outright and buy something else at a range.

1988 Olds 07-14-2011 04:11 PM

Quote:

Originally Posted by CleanNeon98 (Post 2017585)
I have a thin waist so its too wide for me. Im not sure what to do yet, I may sell it outright and buy something else at a range.

Are you carrying it IWB. If you are just say **** it carry OWB, if it prints it prints. So much more comfortable. If you want something IWB get something single stack. LCP or Kahr makes a lot of nice single stacks.

rodder 07-15-2011 11:39 AM

Quote:

Originally Posted by 1988 Olds (Post 2017582)
I also have an Ruger LCP and I love it. Almost never leaves my pocket.

THIS^

Quote:

Originally Posted by 1988 Olds (Post 2017650)
Are you carrying it IWB. If you are just say **** it carry OWB, if it prints it prints. So much more comfortable. If you want something IWB get something single stack. LCP or Kahr makes a lot of nice single stacks.

and THIS^

When I carry my XD45 I carry it in a galco concealable OWB. It's got a lot of forward cant and holds the pistol up nice and high and tight to the body.

For thin guys with small waists (I'm a 32") it's really the only way to comfortably carry a full size, double-stack auto, imo. You are using a proper gun belt, correct?

If you want to go IWB, go single stack. Kahr, Walther PPS, Ruger LC9, Kel Tec PF-9, etc.

If you want a pocket pistol, I'll 2nd the LCP recommendation. The nice thing about a pocket pistol is that there's really no reason to leave the house without it.


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