FromMyColdDeadHand
09-29-09, 21:27
Getting ready to pull the trigger on a trust. I've read all that I could online, but I think I'm getting close to wrapping my head around the concept of a trust. I just have a few comments and questions.
I have a better chance getting a CLEO sign off than I do having my wife sign a NFA trust . I've gotten to the point where she doesn't ask about the black rifles, and I don't talk to her about them.
- So if I am a single grantor with a single property Schedule, that seems to be kosher.
-In case something happens to me, the first trustee (after me?) could be a buddy who I shoot with and is a lawyer.
- The next trustees would be my kids, but they are pre-k. That is still OK, correct?
- All my relatives live out of state where they couldn't own an SBR or Suppressor.
- You can have more than one trust, correct? My wife and I are planning on doing our financial planning later this year, so I don't want to mess anything up, and after we get that all set-up I can introduce here to our new little bundle of joy ;)
I've read the example trusts online from the computer programs, and it seems that they are really geared towards estate-planning (duh). On the one hand all the mention of kids sub trusts, stocks, bonds, realestate, "Income shall be paid to the grantors at least annually" has nothing to do with the reason I'm setting up a trust (I want an SBR), and it starts to look messy to me. On the other hand, all those extra parts make it look like a normal trust, so that should make the ATF happy that I'm not just doing this to get around the CLEO thing.
So, in a nut shell, a single grantor trust to basically hold the NFA stuff till my kids get older, if I were to go to the Big Gun Store in the Sky early, would be OK?
I have a better chance getting a CLEO sign off than I do having my wife sign a NFA trust . I've gotten to the point where she doesn't ask about the black rifles, and I don't talk to her about them.
- So if I am a single grantor with a single property Schedule, that seems to be kosher.
-In case something happens to me, the first trustee (after me?) could be a buddy who I shoot with and is a lawyer.
- The next trustees would be my kids, but they are pre-k. That is still OK, correct?
- All my relatives live out of state where they couldn't own an SBR or Suppressor.
- You can have more than one trust, correct? My wife and I are planning on doing our financial planning later this year, so I don't want to mess anything up, and after we get that all set-up I can introduce here to our new little bundle of joy ;)
I've read the example trusts online from the computer programs, and it seems that they are really geared towards estate-planning (duh). On the one hand all the mention of kids sub trusts, stocks, bonds, realestate, "Income shall be paid to the grantors at least annually" has nothing to do with the reason I'm setting up a trust (I want an SBR), and it starts to look messy to me. On the other hand, all those extra parts make it look like a normal trust, so that should make the ATF happy that I'm not just doing this to get around the CLEO thing.
So, in a nut shell, a single grantor trust to basically hold the NFA stuff till my kids get older, if I were to go to the Big Gun Store in the Sky early, would be OK?