New guy NFA gun trust question

[saguaroarms]

Alright, so if I wanted to pool money together with other azgunbuy.com members to form an NFA gun trust (say the minimum individual investment in order to be included in the trust was $3,000) and the objective was to have enough to aquire an M16, an Uzi, a 9mm suppressor, a .45acp suppressor and a 5.56mm suppressor would that be illegal or not allowed? Am I totally missing the point of a gun trust here?

[Zooks23]

Not something i would try unless i personally knew the person or they are family.. depends how the trust is written but anybody can sell an item out of the trust. You can get a trust for like 300 or 400 bucks on the high end

[azgunlaw]

Saguaroarms - something like that is possible, however, a trust is probably not the right vehicle to us. A trust is really about a personal relationship where the trustee holds assets on behalf of the grantor (trust creator) for the benefit of the beneficiary, who will ultimately receive the assets. For example, parents often set up trusts (grantors) and name themselves the trustees and their children are the beneficiaries. Such a concept is possible with multiple non-family members in theory, but it would be fraught with risks. Plus, that trust would absolutely require some serious custom drafting from a knowledgeable attorney - lots of issues there. I would never recommend such a scenario. There are ways to accomplish what you want but you NEED an attorney that knows what they are doing to help.

[LizaDoupT]

Im confused as to how you can be granted a certificate with the priviso you only rent a gun.

[Ira G.Scelm]

I have NFA stuff as an individual. I have gotten a trust completed and would like to transfer the existing NFA stuff into the trust, I know it is another 200.00 per item and that is about all I know. What goes in the various Form 4 or Form 1 boxes? Thanks