montanadave
12-19-12, 09:29
I realize I am getting the cart in front of the horse here, as none of us know what type of new regulations, EOs, and/or legislation may be coming down the pike, but I would like to educate myself on some of these subjects, as it seems they may be coming to the fore in the near future.
I have read some of the information in stickies on the NFA sub-forum here. I have a question regarding the revocable trust used by some as the legal entity through which to obtain NFA items.
Is this generally a separate and specific trust created solely for that purpose or can NFA items be included within an existing trust? I ask because my wife and I did our estate planning several years ago and had an attorney draft wills, powers of attorney, and revocable trusts for each of us.
So what I want to know is IF the day should come that some of the rifles I own are designated as NFA items and require jumping through all the hoops to be legally held, should I "register" these rifles through a trust and can I utilize my existing trust?
And if my existing trust is a no-go, can someone direct me to a reputable source for information related to a specific firearms trust, which I could provide my attorney to expedite the process?
I hope all this is simply an exercise in mental masturbation on my part, but I don't want to get caught flat-footed and would rather be prepared than caught scrambling around when 5 million people all start trying to do the same thing.
I would appreciate any information members may have to offer in this area.
P.S. Beyond the ATF NFA handbook, are then any other primers floating around that provide sound information on the process for dummies like me that have never been through it?
I have read some of the information in stickies on the NFA sub-forum here. I have a question regarding the revocable trust used by some as the legal entity through which to obtain NFA items.
Is this generally a separate and specific trust created solely for that purpose or can NFA items be included within an existing trust? I ask because my wife and I did our estate planning several years ago and had an attorney draft wills, powers of attorney, and revocable trusts for each of us.
So what I want to know is IF the day should come that some of the rifles I own are designated as NFA items and require jumping through all the hoops to be legally held, should I "register" these rifles through a trust and can I utilize my existing trust?
And if my existing trust is a no-go, can someone direct me to a reputable source for information related to a specific firearms trust, which I could provide my attorney to expedite the process?
I hope all this is simply an exercise in mental masturbation on my part, but I don't want to get caught flat-footed and would rather be prepared than caught scrambling around when 5 million people all start trying to do the same thing.
I would appreciate any information members may have to offer in this area.
P.S. Beyond the ATF NFA handbook, are then any other primers floating around that provide sound information on the process for dummies like me that have never been through it?