I realize this is an old post, but in the future if anyone here is looking for a customized NFA trust drafted by a licensed attorney, I am currently offering customized NFA trusts along with counseling and guidance on the execution and ATF submission process for a flat fee of $300. I am licensed in Maine and Massachusetts and have co-counsel for clients in New Hampshire. Please contact me directly on my website or Facebook page (links listed below).
http://www.reddoglegal.com/
https://www.facebook.com/MaineGunTrusts
I used mine for a number of reasons:
1) Quicker Form 1 Approval electronically and future form 4 approvals one day electronic.
2) Family is on the trust during my lifetime and I can add temporary trustees to shoot with me or shoot my guns as I see fit (remove as well).
3) As both the settlor and a trustee, any other trustee can act on my behalf and acquire/dispose/use NFA items.
4) Estate planning for disposing of trust items should it be required. Settlor becomes another legal party designated to sell assets and split proceeds according to wishes. If remaining trustees was NFA items their value would be figured into the split and other assets would be sold to cover split for other trustees.
5) Upon death all firearms and or legally challenging assets automatically are transferred into the NFA trust for estate planning above.
For example my wife and I pass, leaving minor children and legally challenging items. Trust specifies other legal party to be trustees to handle trust until minors come of age and #4 gets executed. Without a trust, legally owned NFA items individually become an issue in probate with courts, ATF, everybody, so legal protection is necessary...the trust.
Noah
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