I searched extensively on this topic but haven’t been able to find an answer.
I currently have an SBR on a Form 1 and a Suppressor on a Form 4 on a trust I created using Quicken Willmaker. At the time I wrote it, I was married without children and my wife wasn’t interested in firearms at all. Because of this, I listed my best friend as the Beneficiary, and left my wife off as a Trustee.
Since that time, my wife has gotten into shooting so I’d like to add her as a trustee. In addition, I now have a son and would like to list him as the beneficiary in lieu of my friend (sorry bud!).
I’m about to purchase an Silencerco Osprey 45 and have decided to have an NFA trust created for the purchase since I’m not 100% confident in the quality of my Willmaker trust. Would it be possible to basically have my current trust rewritten by an attorney using the current trust name or should I simply create an additional trust for any additional items I add in the future? Ideally I think it would be a lot cleaner to have them all on one professionally written trust, but if that’s not an option, I’ll just create a new one.
I did the same thing as far as adding people, they (at least in Florida) didn’t need to re-write it, he just did an amendment. The ATF was happy with it, I’ve gotten 4 more stamps since the amendment. IIRC it cost me $125 to do the amendment.
You can amend it anytime and sign/notarize, but you’d be well advised to get a attorney specialized in these matters to do it. Just because the NFA will accept the trust, doesn’t mean it will hold water in front of a judge when it comes time to exercise it…
It’s actually pretty simple. I had my attorney draft an amendment. I removed a trustee and changed out the beneficiaries. After reading what he sent me I could have done it myself.
Here’s what it said… Don’t take this as legal advice but it goes to show you how simple it’s written. You can change the wording remove to add.
First Amendment to the XXX Trust
John Doe, as the Settlor of the XXX Trust, does hereby amend the Declaration of Trust to remove Joe Bob as a Trustee and to remove Santa Claus as the Beneficiary and Tooth Fairy as the Alternative Beneficiary to the XXX Trust.
The new Beneficiary shall be Pancho Villa. The new Alternative Beneficiary shall be Mary Poppins. In the event that the Beneficiary and the Alternative Beneficiary are incapacitated or deceased at the time of the Settlor’s death, the assets shall be distributed to Easter Bunny, known hereinafter as the Secondary-Alternative Beneficiary, as the sole second-alternative beneficiary.
These changes shall be effective immediately.
John Doe, Settlor
Dated
ACKNOWLEDGMENT
STATE OF WHEREVER
COUNTY OF ______________
On ________________________, 2013, before me personally appeared John Doe, personally known to me and subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacities, and that by his signature on the instrument executed the instrument.
Given under my hand and seal of office this ________ day of ___________________, 2013.
[seal]
______________________________________________
Notary Public
Just don’t dissolve the trust you have now. That would mean a transfer and you will have to pay for all those stamps again… and wait. Just have him alter what you have into one the way you want it. That’s why it’s called revocable. It can be altered as needed. You can revoke certain aspects and add, replace, whatever… just don’t dissolve it or your weapons will be in a state of transfer… which you don’t want.