Trusts...

[KBScobravert]

I am pretty ignorant when it comes to trusts, so please bare with me. I pay a lawyer 9300 dollars to set up a trust, and that allows me to transfer NFA regulated stuff once I purchase it and pay the tax stamp. Here is where my ignorance comes in. I have to pay the tax stamp regardless, so what are the advantages of a gun trust?

Thanks in advance for the info.

The Trust needs to contain specific verbiage regarding the purchasing and possessing of NFA items. There are lawyers that specialize in Trusts designed for just that but if they set it up right, it can cover a whole lot more. My Trust and the one that a lot of folks from the board have used, is roughly 21 pages with the Schedule A. There is a solid page plus devoted to the handling of NFA by the Trust and Trustees, etc.

Advantage of Trust is the Trust now owns the NFA item, not you personally. You as the Settler are the primary beneficiary but you can list Trustees who benefit also in that they can be in possession of NFA items that the Trust owns.

Technically, I personally do not own any NFA items. But my Trust does.

Thanks guys. I have it all taken care of now! As far as payment for the tax stamp, do you guys just send in a personal check for the $200? I saw some people on another site talking about opening an account for the trust and paying from it. I don't get why the atf wouldd give two shits who pays the tax stamp.

All my stamps fees were paid out of my personal checking with a personal check. One of these days I am going to open a checking account for the Trust but just have never got around to it.

If you can figure out the online Form application process that will cut down on the wait time considerably based on other folks results here so far.

[CJ]

eforms are a great tool, however they are a double edged sword. You really need to make sure the forms are filled out perfectly. One error and you get kicked and have to start the wait process all over. It isn't like how paper forms work where you keep your place in line.

[Pokulski-Blatz]

eforms are a great tool, however they are a double edged sword. You really need to make sure the forms are filled out perfectly. One error and you get kicked and have to start the wait process all over. It isn't like paper works where you keep your place in line.

I hope to hell I filled mine out ok ....

[Semper299]

Thanks for the responses. The CLEO thing has never been a problem, so I guess that is why I did not understand the trust. I understand more about it now. Thanks!

[01yz2nv]

I'm just hoping the damn Efile sight starts working right again, so we can get mine filed 😕

[motoman]

I'm just hoping the damn Efile sight starts working right again, so we can get mine filed 😕

Did we get you setup with everything?

[01yz2nv]

Did we get you setup with everything?

Yea everything is good to go. Chris scanned it for me the other night and has been trying to Efile it, but the sight has been acting up.
Thanks for your help.

[BlackGT]

The advantage to having a checking account in the name of the trust to pay for NFA items, is no worry, if the ATF wants to get down and dirty, that there is a co-mingling of funds and they try to say that the trust is not the one paying for the items...

[Machx2]

The advantage to having a checking account in the name of the trust to pay for NFA items, is no worry, if the ATF wants to get down and dirty, that there is a co-mingling of funds and they try to say that the trust is not the one paying for the items...

I ended up buying a suppressor from Silencer shop out of austin, you can actually pay the tax stamp through them and they will send a check for the stamp. Seems good to me.

Has anyone read the ATF 41P. I have just read comments on it but not the actual meat. I figured some of you guys may be versed in it since i know a lot of you guys have been doing this a while.

[spederman]

Here is a link to $99 trust that i get an email every week from. Legit place for gun stuff, i buy magazines from them all the time, not sure whats all involved in this, but seems like a good deal

http://www.westforkarmory.com/99-nfa-gun-trusts/2002-99.html

[Probie]

At the Allen gun show. $200 cash for a single or multi generation trust. We can print it off today as well as notarize it.

[Pokulski-Blatz]

At the Allen gun show. $200 cash for a single or multi generation trust. We can print it off today as well as notarize it.

We? Who is offering the trust?

[inline 6]

Or you can get one right here on the forum for under a hundo.

[Chili]

Digging up this thread for a related question. If I am on a family member's trust (set up for NFA purposes) I can purchase NFA items under, and covered by that trust, correct? I am on it in case he passes, so that I can take possession of whatever he has.

Assuming so, just a tax stamp and update the schedule?

Not looking for anything big, just a suppressor. Being in Tarrant County, I understand that I can probably get a CLEO signoff anyways (eliminating the need for a trust), but would want it for the same reason I am on his.. So that my shit isn't forfeited if I die.

[Chili]

We? Who is offering the trust?

His employer I am assuming.