What the Pro’s and Con’s of the Trust. My plan is to use a trust. Is there less paperwork, or fingerprinting etc with Trust?
Also, I want my two boys to be able to take the OLD MANS guns and have at it- in 35 years or so! Can you pass it onto your kids before you die…
My friend registered his lowers at the same time he did he trust with his lawyer, who is a gun enthusiast. Make sense?
I use a trust all the time. IMO that is the way to go.
IG, check your email.
I have found using a Trust to be more simple and flexible than registering your NFA items as an individual, trusts can/may be amended.
Agreed.
My first NFA item I did without a trust. Then I had an attorney draft prepare a trust for NFA items (I didn’t want to use forms off the internet but I know alot of guys do–I’m an attorney and I wanted it done correctly) because the trust provides more flexibility and ease. Plus it is an instrument to pass on NFA items and can be amended easily. If you are planning on owning a number of NFA items, the trust is the way to go in my opinion.
In my limited experience, the ONLY downsides to a Trust, are increased probability of ATF rejection (due to the ATF not having known standards for Trusts), and the cost to set up the trust (if you use a lawyer, like I did).
I don’t believe that is correct. There is obviously some type of standard since they are advising their examiners to check them more closely. My trust was done using Quicken so it would seem to reason that if you followed that format and they are legal in your state you shouldn’t have a problem. I have 4 entries thus far on mine.
I guess I should have explained what I meant better. I’m referring to this post on the blog of the lawyer who created my trust:
http://www.guntrustlawyer.com/2010/10/atf-inconsistency--to-assign-o.html
I used a trust for both of my SBR’S I liked the ability to add people to the trust my wife, son and I are trustees and can use the guns. That is a huge difference and plus for me.
You don’t need a lawyer just some common sense. I looked into using a lawyer. I would have for $2-300 but hell no for $600-$1,100 I don’t have that mind of money.
Why not use a practice series form from your state?
Not my specialty and frankly I didn’t want to take the time to make sure there wasn’t something that I would miss from a tutorial.
Peace of mind is well worth the price (although the cost for the trust was less than I anticipated).
How expensive was your trust?
I paid $200 for a local lawyer to do one. Peace of mind is a great thing.
$200 is well worth it. The quote I was given were crazy expensive.
I thought so. Fireman1291 pointed me their way. They did his trust and he has 8 suppressors now I think. So they put together a legit package.
My Form 1 was just approved on a trust done by them.