Yeah I know I should contact a lawyer and not listen to random strangers on the internet, but... If I have a friend who just paid XYZ law firm for their NFA Trust, would it be reasonable to think that I could change the names/addresses and more or less have my own 'lawyer' written trust? My friend and I live in the same state and he's actually buying the same suppressor I am. I haven't physically read through his trust, but I can't imagine much other than names/addresses would vary. Thanks for any opinions.
Suppressors Yet another NFA Trust question
- Thread starter hbus1300
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Re: Yet another NFA Trust question
Does the trust have a copyright ( http://www.guntrustlawyer.com/2010/02/our-copyrighted-trust-for-nfa.html )? If not, I don't see any legal reason why it would not work, but I am not a lawyer either.
Does the trust have a copyright ( http://www.guntrustlawyer.com/2010/02/our-copyrighted-trust-for-nfa.html )? If not, I don't see any legal reason why it would not work, but I am not a lawyer either.
Re: Yet another NFA Trust question
Yeah thats the one he got, so that won't work. Looks like I need to either pony up the $600 or roll the Quicken dice. Any reputable NFA lawyers that will do it for less than $600?
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 50APIT</div><div class="ubbcode-body">Does the trust have a copyright ( http://www.guntrustlawyer.com/2010/02/our-copyrighted-trust-for-nfa.html )? If not, I don't see any legal reason why it would not work, but I am not a lawyer either. </div></div>
Yeah thats the one he got, so that won't work. Looks like I need to either pony up the $600 or roll the Quicken dice. Any reputable NFA lawyers that will do it for less than $600?
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 50APIT</div><div class="ubbcode-body">Does the trust have a copyright ( http://www.guntrustlawyer.com/2010/02/our-copyrighted-trust-for-nfa.html )? If not, I don't see any legal reason why it would not work, but I am not a lawyer either. </div></div>
Re: Yet another NFA Trust question
My first 3 NFA items were purchased and approved using a quicken style trust while I lived in Arizona.
I had to sell them before moving home to Washington because at the time they were not legal here (SBR's are still not legal here).
Recently my father and I decided to jump into the NFA game again and I was quick to go the quicken way again as it worked in the past. My dad was not so apt for that so he paid for a joint trust via guntrustlawyer. We paid $600.
When talking with them over the phone they explained some of the differences in legaleze as to why they were worth the money. Some of it made sense, some seemed pretty far fetched but since dad was paying for it I didnt argue too much.
Maybe give them a call or shoot them an email and see if they will explain the same legal jargon to you, then you can decide if the $600 is worth it.
To add, we were able to obtain an EIN # for our trust and then with that opened a business bank account with the trust in the trust name. No SSN#'s were provided by my dad or myself on the account. We are signers, yet no SSN attached. Deposits are made into the account via cash and then the trust account funds the purchase of the NFA items AND the stamp fee. At some point the lawyers told us this was one additional step one "could" take to insure complete legality. Hell if I know, I'm a simple plumber but again it made dad happy so we went that route.
Good luck to you whichever way you go.
My first 3 NFA items were purchased and approved using a quicken style trust while I lived in Arizona.
I had to sell them before moving home to Washington because at the time they were not legal here (SBR's are still not legal here).
Recently my father and I decided to jump into the NFA game again and I was quick to go the quicken way again as it worked in the past. My dad was not so apt for that so he paid for a joint trust via guntrustlawyer. We paid $600.
When talking with them over the phone they explained some of the differences in legaleze as to why they were worth the money. Some of it made sense, some seemed pretty far fetched but since dad was paying for it I didnt argue too much.
Maybe give them a call or shoot them an email and see if they will explain the same legal jargon to you, then you can decide if the $600 is worth it.
To add, we were able to obtain an EIN # for our trust and then with that opened a business bank account with the trust in the trust name. No SSN#'s were provided by my dad or myself on the account. We are signers, yet no SSN attached. Deposits are made into the account via cash and then the trust account funds the purchase of the NFA items AND the stamp fee. At some point the lawyers told us this was one additional step one "could" take to insure complete legality. Hell if I know, I'm a simple plumber but again it made dad happy so we went that route.
Good luck to you whichever way you go.
Re: Yet another NFA Trust question
its probably fine, but then again you aren't going to an attorney for "probably" you want "definitely".
I used R Todd King in KS for mine, and it was $350. Its an NFA trust, not a generic one. Hes pretty well known in the KS area for NFA trusts.
R. Todd King - (316) 263-0505 - [email protected]
its probably fine, but then again you aren't going to an attorney for "probably" you want "definitely".
I used R Todd King in KS for mine, and it was $350. Its an NFA trust, not a generic one. Hes pretty well known in the KS area for NFA trusts.
R. Todd King - (316) 263-0505 - [email protected]
Re: Yet another NFA Trust question
If you can, and are comfortable with it, establish a co-trustee. This individual(s) can have the items in possession, and use them, should you need to move to a non-friendly NFA state. I'm active duty military and identified a family member as a co-trustee so that when/if I'm PCSed overseas or to a non-friendly NFA state I simply notify the BATFE via the 5300 series form that the items are moving over state lines and ship them to the co-trustee. This will prevent the situation described above where the individual was forced to sell the items. I paid $586 for my trust. But the confidence in having the identified co-trustee, language in the trust associated with my spouse, and resources spent (5 NFA items to date) it's worth it. The trust can be reviewed should you permenantly move (revocable trust) so that any state specific rules/regulations can apply.
If you can, and are comfortable with it, establish a co-trustee. This individual(s) can have the items in possession, and use them, should you need to move to a non-friendly NFA state. I'm active duty military and identified a family member as a co-trustee so that when/if I'm PCSed overseas or to a non-friendly NFA state I simply notify the BATFE via the 5300 series form that the items are moving over state lines and ship them to the co-trustee. This will prevent the situation described above where the individual was forced to sell the items. I paid $586 for my trust. But the confidence in having the identified co-trustee, language in the trust associated with my spouse, and resources spent (5 NFA items to date) it's worth it. The trust can be reviewed should you permenantly move (revocable trust) so that any state specific rules/regulations can apply.
Re: Yet another NFA Trust question
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: BravoSector1</div><div class="ubbcode-body">If you can, and are comfortable with it, establish a co-trustee. This individual(s) can have the items in possession, and use them, should you need to move to a non-friendly NFA state. I'm active duty military and identified a family member as a co-trustee so that when/if I'm PCSed overseas or to a non-friendly NFA state I simply notify the BATFE via the 5300 series form that the items are moving over state lines and ship them to the co-trustee. This will prevent the situation described above where the individual was forced to sell the items. I paid $586 for my trust. But the confidence in having the identified co-trustee, language in the trust associated with my spouse, and resources spent (5 NFA items to date) it's worth it. The trust can be reviewed should you permenantly move (revocable trust) so that any state specific rules/regulations can apply. </div></div>
its not really a question of comfort. you need to have a beneficiary, so you might as well make them a co-trustee.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: BravoSector1</div><div class="ubbcode-body">If you can, and are comfortable with it, establish a co-trustee. This individual(s) can have the items in possession, and use them, should you need to move to a non-friendly NFA state. I'm active duty military and identified a family member as a co-trustee so that when/if I'm PCSed overseas or to a non-friendly NFA state I simply notify the BATFE via the 5300 series form that the items are moving over state lines and ship them to the co-trustee. This will prevent the situation described above where the individual was forced to sell the items. I paid $586 for my trust. But the confidence in having the identified co-trustee, language in the trust associated with my spouse, and resources spent (5 NFA items to date) it's worth it. The trust can be reviewed should you permenantly move (revocable trust) so that any state specific rules/regulations can apply. </div></div>
its not really a question of comfort. you need to have a beneficiary, so you might as well make them a co-trustee.
Re: Yet another NFA Trust question
Guys, can someone explain what the purpose of the NFA trust is? New at this suppressor stuff but would like to buy one.
Guys, can someone explain what the purpose of the NFA trust is? New at this suppressor stuff but would like to buy one.
Re: Yet another NFA Trust question
The ATF requires that an NFA item be transferred to one of three parties:
1. An individual who has gotten his local sheriff to approve the transfer. (Sometimes very difficult, depending on the sheriff.)
2. A corporation. (A viable alternative, but there are some complicating issues.)
3. A trust. (People like trusts because there is no need to file any sort of paperwork with one. You simply create the trust with a legal document, and transfer items to it.
I'm talking here about a Form 4 transfer to the 'end user,' if you will.
The ATF requires that an NFA item be transferred to one of three parties:
1. An individual who has gotten his local sheriff to approve the transfer. (Sometimes very difficult, depending on the sheriff.)
2. A corporation. (A viable alternative, but there are some complicating issues.)
3. A trust. (People like trusts because there is no need to file any sort of paperwork with one. You simply create the trust with a legal document, and transfer items to it.
I'm talking here about a Form 4 transfer to the 'end user,' if you will.
Re: Yet another NFA Trust question
I see, thank you. I'm in Colorado my dealer tells me I just need to fill out the form pay the money for the can and wait. He almost made it sound just like a gun purchase background check. Is it different in each state or are the three methods standard for all states?
I see, thank you. I'm in Colorado my dealer tells me I just need to fill out the form pay the money for the can and wait. He almost made it sound just like a gun purchase background check. Is it different in each state or are the three methods standard for all states?
Re: Yet another NFA Trust question
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Slipshot</div><div class="ubbcode-body">I see, thank you. I'm in Colorado my dealer tells me I just need to fill out the form pay the money for the can and wait. He almost made it sound just like a gun purchase background check. Is it different in each state or are the three methods standard for all states? </div></div>
hes correct. when you send in the form 4 for a trust, after the stamp clears and before you take possession, you will fill out the 4473, just like with a regular purchase. for a "normal' state thats the process. if the state has any other state or local laws on top of that, they would apply just like normal.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Slipshot</div><div class="ubbcode-body">I see, thank you. I'm in Colorado my dealer tells me I just need to fill out the form pay the money for the can and wait. He almost made it sound just like a gun purchase background check. Is it different in each state or are the three methods standard for all states? </div></div>
hes correct. when you send in the form 4 for a trust, after the stamp clears and before you take possession, you will fill out the 4473, just like with a regular purchase. for a "normal' state thats the process. if the state has any other state or local laws on top of that, they would apply just like normal.
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