Setting up gun trust

Discussion in 'NFA/Class 3 & FFL Discussion' started by hockeyjr1, Sep 17, 2017.

  1. hockeyjr1

    hockeyjr1 Member

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    Hey y'all,

    I've been looking to set up a gun trust down here in Florida. I'd like to start a SBR build next year.

    I've searched the forums but nothing has any specific help. I've read about how to go about it yourself but is that really a good idea? Also there's a ton on online places that do the paperwork for you for a fee. Are these just scams/waste of money or actually a good way to go.

    Trying to keep the cost down by not going to a gun lawyer but I will if I need to.

    Also how long does it take to get the trust going before putting in the build papers? Thanks
     
  2. c3shooter

    c3shooter Administrator Staff Member

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    There are certain areas where do-it-yourself may be a bad idea. Surgery, dentistry and law are high on that list.

    There ARE a bunch of on-line resources, and some of those will guide you to trust procedures that are NOT valid in your state. Ask your state bar for a referral to three attorneys that can draw up a simple trust in your state, contact them and ask their price. If you have a local Class III dealer, they will also have recommendations.
     

  3. Greg_r

    Greg_r Well-Known Member

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    Is a trust as much benefit as it used to be? Seems to me that they are not. I know there was a rush to get trusts established when the law changed so as to be grandfathered.
     
  4. Daoust_Nat

    Daoust_Nat Well-Known Member Supporter

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    I looked into it in Florida, and the gun shop gave me a list of attorneys to potentially use. They recommended using an attorney, but since they had no dog in the hunt, were very open with who had done them for their customers, and did not push me to a specific one.

    I was going to do it mostly for a suppressor as at the time the Sheriff in my county would not sign the paperwork for suppressors. I stopped the process before I really got started because of the "Hearing Protection Act" before realizing that the RINOs were not going to support it. Since I see no future in that bill I am thinking of re-starting the process.
     
  5. partdeux

    partdeux Well-Known Member

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    Are they a good idea, probably. I'm still planning to start one, someday.
     
  6. hockeyjr1

    hockeyjr1 Member

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    Biggest thing is you can leave the gun to someone else that's on the trust. Also other people on the trust can go and use the gun without you being present. And after it is set up you don't need all the local PD signatures that you would going on your own with less paperwork.

    Going to see if my local gun shop has any names they deal with. Will also look into Florida bar for their listings.

    Another question, an SBR lower needs to be engraved as a SBR correct? Can this be any lower unlike pistol lowers that are already marked?
     
  7. Txhillbilly

    Txhillbilly Well-Known Member

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    While the enactment of 41F put some restrictions and some would say hardships of having a NFA Trust,it still has many advantages over an Individual purchase of Class 3 items.
    I've had a trust for years,and since one of my best friends was on my trust,when he passed away back in April nothing had to be done with the legalities of his suppressor. The trust owns everything in it,not the person that paid for it.
    With a trust,you never have to worry about the future dealings with something happening to you and leaving your family having to deal with the BATFE having an item that they can't possess legally until more paperwork has been completed. It doesn't cost anything to transfer an Item to your family upon your death,but it's just something else that has to be done.

    I know guy's that have done the cheap or DIY trust,but do you want to bet your freedom and others freedom and fines if the trust is deemed not legal,or having mistakes that make it illegal?
    Would you defend yourself on a major felony charge in court,or would you hire a lawyer that has complete knowledge of the case law to protect your freedom and financial future?

    I look at it this way. There are several people listed on my trust,and we have many thousand's of $$$$ worth of items listed on my Trust. I wouldn't want to risk the chance of loosing those items,and also burden the other people on the trust with whatever legal issues and fees it would involve trying to fix it.
    It is a no brainer to me of paying an attorney that is familiar in writing NFA Trust,so the Trust will be 100% legal for me and everyone listed as a Trustee or Beneficiary on it.
    It's money well spent!

    I used Sean Cody in Houston,TX when I did my Trust,he's one of the best known NFA Trust Lawyer's. He can also help people outside of Texas with getting a Trust set up. If he can't write it,he can point you towards someone in your area that can.

    http://www.texasnfatrust.com/
     
  8. Greg_r

    Greg_r Well-Known Member

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    The 4 advantages to a trust were
    1, no CLEO had to sign off
    2, no fingerprints or photographs needed.
    3, estate planning
    4, sharing among members of the trust.

    Three of these really no longer apply as the new rules eliminate the need to get CLEO approval, you only have to notify them.

    The new rules now require than any member of the trust who can legally possess the NFA item must now submit a photograph and fingerprints.

    And the new rules allow the executor of the estate to possess the NFA item without being considered a transfer and that the NFA item may be transferred to any beneficiary of the estate, not just heirs, tax free.

    Seems to me that the only advantage remaining with a trust is the sharing benefit.

    One of the perceived advantages of a trust, estate planning, could possibly also be a disadvantage. As was pointed out, even though you paid for the NFA item, you do not own it, the trust does.