Will NFA items affected by "assault weapons" ban?

[cfl4rat]

Will NFA items be affected by "assault weapons" ban?

Not sure if this has been discussed here or not, a search didn't yield anything. But if they somehow get a "assault weapons" ban passed will NFA items also be affected/restricted? I ask because I was planning on having a NFA trust made up but if it would be obsolete I may hold off and see how this **** plays out..
Thanks and sorry if this has already been discussed.

 

[fullauto 45]

Last time it had no effect, other then magazine prices went up. Prices shot up at first, but then dropped back down.

 

[jrainw]

Last time around NFA stuff was outside of the ban.

 

[cfl4rat]

Ok very good thanks!

 

[xryan.jacksonx]

Except this time the NFA registry is being used as a tool for enforcement. Machine guns, suppressors, and AOWs might squeak by but I'd be surprised if SBRs and SBSs are not included. It may not be overly clear and it will be up to BATFE's discretion as with so many other things. If the regulation does end up banning transfers, all NFA stuff may or may not be included. If the transfer ban does go into efffect and some or all current NFA items are not affected by the ban, I would expect prices on machine guns or SBRs if they aren't affected to triple.

The other thing is, this is 1994. The internet is alive and well. I'm sure the lawyers drafting the legislation are being paid quite well. I'm guessing part of their job is to take a peak at message boards such as this one and find any loop holes the people are dreaming of and write the appropriate legislation to seal them up.

 

[cfl4rat]

So is it safe to say it may be in my best interest to get a trust done ASAP?

 

[xryan.jacksonx]

So is it safe to say it may be in my best interest to get a trust done ASAP?

I'm not a lawyer, but I would almost guess a corporation would be a better option if you plan to pass on the firearms. I've spoken to someone I know who does practice law (although he isn't versed in NFA stuff) and he told me trusts have a potentially finite lifespan due to what is known as rule against perpetuities.

Rule against perpetuities - Wikipedia, the free encyclopedia

Also be prepared for the posability that if an AWB does pass that you won't be allowed to register anything except as an individual at that point.

Something that I was thinking about. If SBRs do slip by some how, I would expect to start seeing handguns coming with stocks and registered as SBRs. Another potential loop hole is AOW handguns with foregrips. Even though the ATF is dead wrong about the fact that adding a foregrip to handgun makes it an AOW, it may work to our advantage. Although since that is more of an ATF regulation than a law, they could and probably would change their mind relatively quickly if this became popular.

 

[citycreek]

Dynasty trusts vs. revocable trusts

There are 18 states that have abolished the rule against perpetuities, so trusts in those states can go on forever; and there are two states that allow trusts to exist for 1,000 years.

Just make a revocable trust now, but make sure it has language allowing you to modify it by changing trust situs (switch states) and to make it an irrevocable trust. Spend a few hundred $ now on a revocable firearms trust and put your NFA items and all other guns in it. If it becomes necessary, spend more money later (probably few thousand) on making it more comprehensive for perpetual existence. Talk with a qualified attorney about this. I'm not an attorney.

I've got more to say on this, but it's too long for a forum post.

As far as changes to an AWB go, if implemented, it may affect making new SBRs/SBSs with a form 1, because you are "manufacturing". But maybe not. Wait and see may be the best way to tell.