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Post by NamelessStain on Mar 17, 2015 18:54:21 GMT
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Post by omegaman on Mar 19, 2015 0:50:18 GMT
I actually have a gun trust. Myself and some fellow veterans I met in college came across a gun trust lawyer who hooked us up for $100 apiece. So I jumped on that. Still haven't been able to afford any nice nfa toys...er. But, I think it all depends on the person. If you have a dick chief leo who won't sign off or family you want to leave your coveted firearms with, then yeah, I think they are worth it.
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Post by LowKey on Mar 19, 2015 4:47:19 GMT
I have one.
There's another benefit; any of the trustees can be in possesion of the item.
If the tax stamp is in your name then you must be present when the item is out of the safe and being used. Your wife/offspring/parent/cousin/best friend CAN NOT be in possesion of the item. If they want to use it/fire it you would have to be physically present or you and they could be considered to have unlawfully transfered the item.
With a trust, anyone who is a trustee or co-trustee may lawfully be in possesion of the item. Thus, you can add your spouse, ect to the trust document as trustees and avoid the above issue.
*edited to add*
Gun Trusts aren't that difficult to draw up. As much as some of them will scream otherwise, there isn't much difference between a "gun" trust and any other trust.
To be blunt, if the trustee(s) understand the laws pertaining to firearms, the GCA and NFA items you wouldn't need any special language(unless your state has some very funky laws). Almost all of the addtional verbage is to prevent possible trustees who haven't a clue from commiting a felony. I'll happily pass along mine to anyone here who wants one (with my personal data removed, of course).
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Post by MrEMonkey on Apr 13, 2015 9:36:22 GMT
I'm interested...my e-mail is tisoy47 at yahoo.com
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Post by Browning35 on Apr 13, 2015 17:08:47 GMT
At LowKey
So you can retroactively add the names of family later on and they can be in possession of the NFA item outside of your presence?
If so that's cool. I thought for some reason they all had to be on the firearms trust at the time of purchase and that you had to submit a list of those names to the ATF as part of the pre-purchase paperwork.
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Post by LowKey on Apr 13, 2015 17:48:20 GMT
At LowKey So you can retroactively add the names of family later on and they can be in possession of the NFA item outside of your presence? If so that's cool. I thought for some reason they all had to be on the firearms trust at the time of purchase and that you had to submit a list of those names to the ATF as part of the pre-purchase paperwork. Well, it's not "retroactively", it's just an update of who is appointed as a trustee/co-trustee...but essentially yes. And no, they don't have to be on there when you submit to the ATF. Do keep in mind, you shouldn't ever be adding a prohibited possessor to the list of trustees...making someone a trustee wont magically make them legal to posses if they're a felon, addict, ect. Also keep in mind, anyone you add as a trustee could sell the item(s) without your permission (okay, you could structure the trust to prevent that by requiring more than one trustee to approve the sale of trust property, but still....choose wisely). The more I read about trusts (not just for NFA stuff) , the more I like trusts. |
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