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After studying the boards/regs I have finally taken the plunge and my first Class3 rifle will be at my dealer next week. I have searched different ownership options, i.e. revocable trusts, LLC, or personal ownership.
I have a willing sheriff here in FL I am told by the dealer and my background is fine.
Still cannot decide which way to go as to complete aquisition, personal, trust or LLC. I already have an LLC. Pros/cons of each?? I have searched the webboards many times. I realize everyones personal situation differs.
Any thoughts or sage advice from you much more experienced members??
Thanks for your kind guidance to a newbie!:)
 

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My $0.02

I would go the "normal" route if the local law enforcement official will sign for you. That is the established way to do the transfers and the Gov't doesn't like change. Although the trust is a legal way to go, it does "avoid" the CLEO signature. I'm sure all it take one "screw-up" by someone with a trust owned gun and that option will be slammed shut by the BATF. If Schummer or Finstein heard that a convected felon got a MG by the trust route, legislation would be in Congress the next day closing that "loophole".

Just to hege your bets, I would go the CLEO sign-off route just to preclude any potential problems in the future. Once you have the sign-off, it is good for as long as you own that gun.

Bill
 

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many things should influence your decision. for ME, the individual option works best because i dont WANT anyone else messing with my guns without me present, and the guns transfer to my wife tax free on a form 5 if i die.

i have a CLEO who signs off without issue so it just makes sense for me to go that route.

there are benefits and disadvantages to corps, and trusts - you need to weigh all options and decide what makes sense for you


my opinions

Mike
 
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