How much did you pay to start your trust? - Page 2
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How much did you pay to start your trust?


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Old 08-08-2012, 11:07 AM   #11
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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.
I'm not about to say that your Trust is any less legal or worse than one drawn up by an attorney. But considering the penalties that come from an illegal act when NFA weapons are involved, I went with an attorney that specializes in these trusts. If and when mine is ever questioned, I have someone that is licensed on my side of the table and when dealing with other attorneys and a judge, you definitely want that.

The fact that the BATFE has accepted yours in the past means nothing about what they may do in the future. Case in point, I just sold my FA Steyr AUG. I received it with erroneous dimensional data that was caught by the BATFE when I tried to transfer it. It made it through 2 Form 3's and a Form 4 with the incorrect barrel length before the BATFE called me on it. They accepted my explanation and supporting data and approved the transfer, with corrected barrel length, but it just goes to show that there can always be mistakes that are caught at a later date. And if I ever end up in front of a judge, with a BATFE agent and US attorney at the other table, I don't want to bring a canned legal program as my defense.

Again, there is probably a zero chance that a non-attorney produced trust will cause problems. But I have way too much to lose to run the risk over $450. Especially when I am investing $20K+ just to play the field.
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Old 08-08-2012, 01:07 PM   #12
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The BATFE has a legal department look over trusts for validity. If there is a problem, they will kick it back and it can be fixed.

I'm no attorney but I've never seen the BATFE prosecute anyone over these transfers or try to collect an NFA item after a transfer has been approved. Some lawyers will link a single case but by reading into it showed no confiscation and no criminal prosecution. It just had some paperwork issues that were fixed.

I also can guess that any attorney who draws up a trust and then later it has issues that involve criminal or civil issues is probably not going to defend the trust in court for free. So no matter how a trust was drawn, it will cost to have it defended in court.

An attorney might be better for making sure the trust is done right the first time or if there is some specific non standard requests needed for it. It may be better if a trust is kicked back because an attorney would likely re draft it to fix those issues for low or no cost.
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Old 08-08-2012, 01:11 PM   #13
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As you will see. I am out of the loop here. I know what's a trust. But as it concerns strictly firearms and suppressors, as posted above by several members, I'm afraid I don't know what it means. Am I missing something?
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Old 08-08-2012, 02:03 PM   #14
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A trust can own an NFA item amongst many other things. It has many advantages over transferring NFA items to a specific individual.
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Old 08-08-2012, 02:29 PM   #15
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The BATFE has a legal department look over trusts for validity. If there is a problem, they will kick it back and it can be fixed.

I'm no attorney but I've never seen the BATFE prosecute anyone over these transfers or try to collect an NFA item after a transfer has been approved. Some lawyers will link a single case but by reading into it showed no confiscation and no criminal prosecution. It just had some paperwork issues that were fixed.

I also can guess that any attorney who draws up a trust and then later it has issues that involve criminal or civil issues is probably not going to defend the trust in court for free. So no matter how a trust was drawn, it will cost to have it defended in court.

An attorney might be better for making sure the trust is done right the first time or if there is some specific non standard requests needed for it. It may be better if a trust is kicked back because an attorney would likely re draft it to fix those issues for low or no cost.
Not disagreeing, but having been in court (civil thankfully) more than a couple of times, playing as an individual is a no win situation. Courts are the domain of attorneys and I have even been better served in traffic court by having an attorney with me (dismissed 100% of the time to date). Of course they don't work for free, but I can almost guarantee you one will never show up for you in a case where you did a Quicken document. And the fact the BATFE hasn't done something yet, certainly doesn't preclude them in the future. And with numbnuts and his crew in Washington, nothing would surprise me less than to have them come hunting amongst us NFA'ers.
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Old 08-09-2012, 07:23 PM   #16
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I'm currently single, but have heard your wife can be on a trust so you both can possess the NFA items. If I start a trust and then get married would I be able to add her to the trust?
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Old 08-13-2012, 10:53 AM   #17
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I'm currently single, but have heard your wife can be on a trust so you both can possess the NFA items. If I start a trust and then get married would I be able to add her to the trust?
Yes you can, and should unless NFA items are locked in a safe she has no access to.
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Old 08-13-2012, 11:17 PM   #18
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Thanks, I was debating going the trust route. Seems like a better option. Anyone know of any downsides to going the trust route?
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