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-   -   How much did you pay to start your trust? (http://www.firearmstalk.com/forums/f47/how-much-did-you-pay-start-your-trust-69667/)

jordan89 08-05-2012 10:26 AM

How much did you pay to start your trust?
 
My LGS is now a class 3 dealer. They have gotten an order of suppressors in stock and I was planning on buying one. The sheriff in my county will not sign off on it though. My local shop has partnered up with their lawyer to set up trusts, the cost is $350 for the trust. It seems a little expensive to me seeing as the suppressor is $200 and another $200 for the tax stamp. For those of you that have set up a trust before how much did you pay?

Also, this might be a question for a lawyer but can you put multiple NFA items on the same trust? Say I wanted to buy 2 suppressors could I put them together?

purehavoc 08-05-2012 11:08 AM

Jordan, what kind d of suppressor is it I have never see A suppressor for $200. My guess is ur not getting much for ur money most decent suppressors start at $400 and go up to $1200 plus the $200 tax. Just make sure you can disassemble it to clean it

msup752 08-05-2012 11:49 AM

There are a lot of good $200 cans. Many will disassemble and most are made of aluminum.
I just sent in my trust with a form 4 for my .22 can. I did a lot of research and opted to use Quicken and exported the documents to Word to edit them. It allowed me to shorten the trust name from the very long "John Matthew Smith and Jane Michele Smith Revocable living trust" to something shorter like "Smith revocable living trust".
A friend already had the software ($19 or less online as 2009 is the last year it was made) so there was no cost to me. Notary cost me nothing at my bank so just ink and paper expenses.
$350 sounds like a good price for an attorney drawn Trust but not good compared to almost free.
Attorneys say they offer NFA specific language and peace of mind. In all of my searching, I have never found out what the specific language is that they add, it must be a well kept attorney secret. The worst I have found happening is the BATFE will send the paperwork back for corrections.
The best thing about a trust is you only have to do it once. When you get a stamp and take a can home, add it to the schedule of property so it belongs to the trust. Want more cans? Just take a copy of your trust and updated schedules for any further form 4's! No more running around for photos, fingerprints, chiefs signature, etc!

jordan89 08-06-2012 06:01 AM

I can't remember the name of the company. I know they are located in Evansville, IN. But can't recall who made it....i'll update once I find out. I'll also search some reviews on that company before I buy.

Msup752, thanks for the info! I think I might see if I can get a copy of that software. Even, if I can't find it I plan on buying multiple suppressors and a SBR in the future so $350 as a one time fee still isn't bad.

okdonk 08-06-2012 07:40 AM

I got my trust setup for $200. He does most of Nevada gun owners' trusts.

NativH 08-06-2012 12:48 PM

I paid $450 to have a local attorney, who is basically a NFA attorney (that is a core part of his business and he owns machineguns), write up my trust. Other local "NFA attorneys" wanted upwards of $600. Considering what is at risk and the cost of my first two machineguns ($25K), the $450 didn't bother me at all. Never had one hickup from the BATFE either so it seems to work for them also. Have a silencer for my M4 on approval and sold both of my machineguns, delivered them just last week.

Had some paperwork/weapon description discrepancies that I had to work out with the BATFE and they were most helpful and professional. Robin, in Martinsburg,WV seemed to be a very kind and helpful BATFE agent in my book.

JonM 08-06-2012 04:17 PM

Mine was 350 through a local nfa attourney. You can put as many nfa items on a trust as you have ink and paper to fillout the schedule of assets.

jordan89 08-07-2012 03:28 AM

Here is the company and suppressor I am looking at.

http://www.huntertownarms.com/g22micro.php

okdonk 08-07-2012 08:01 AM

Quote:

Originally Posted by jordan89
Here is the company and suppressor I am looking at.

http://www.huntertownarms.com/g22micro.php

Add a lil bit more.. u will get a well known Gemtech Outback 2D. Which i just ordered from my LGS. Costed me $246

KingTiger 08-07-2012 12:49 PM

My local SOT used Quicken Willmaker to make me a Revocable Living Trust for free. Took about 20 minutes. I've bought 4 suppressors & a SMG thru him. Other dealers in my area will do the same. Competition is a good thing.


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