Page 1 of 9 123 ... LastLast
Results 1 to 10 of 81

Thread: I am still a little confused about trusts...

  1. #1
    Join Date
    Oct 2012
    Location
    Arizona
    Posts
    516
    Feedback Score
    7 (100%)

    I am still a little confused about trusts...

    Ive been trying to do my research but it seems there is a lot of conflicting information about trusts...

    What benefit do I have say going the NFA lawyer route for $600 vs say Silencer shops online trust (which apparently a lawyer put together)?

    I am sure its all in the language...but I want a valid trust that includes everything necessary and actually functions in the future, but I also don't want to spend a ridiculous about for a trust...

    Can someone explain this to me? Some other lawyer based nfa trust sites only charge a $100 as well....

    I mean does lawyer = quality?

    Also, with trusts do you include the Schedule A or whatever each time you submit stamps? What if you are applying for your first stamp?

    Thanks

  2. #2
    Join Date
    Sep 2012
    Posts
    191
    Feedback Score
    54 (100%)
    .......
    Last edited by South; 02-14-15 at 12:20.

  3. #3
    Join Date
    Oct 2010
    Posts
    1,193
    Feedback Score
    2 (100%)
    Has anyone used Quicken Wills to do a trust? I am getting ready to get an AR pistol, and then get the lower engraved, but I'd like to File Form 1 using a trust.

  4. #4
    Join Date
    Dec 2011
    Posts
    3,839
    Feedback Score
    10 (100%)
    Quote Originally Posted by Pilot1 View Post
    Has anyone used Quicken Wills to do a trust? I am getting ready to get an AR pistol, and then get the lower engraved, but I'd like to File Form 1 using a trust.
    I have a quicken trust, that I got from a buddy who got it from a buddy and is used by about 50 people.

    You can spend the $$ on lawyer to get a trust or you can cheap out like I did and get one. At the end of the day if the ATF wants to demolish trusts they will and how much you paid will mean nothing.

  5. #5
    Join Date
    Nov 2013
    Posts
    94
    Feedback Score
    0
    Food for thought on schedule A's

    http://www.myguntrust.com/schedule-a-question.html

    YMMV

  6. #6
    Join Date
    Mar 2007
    Posts
    1,164
    Feedback Score
    4 (100%)
    I originally did my trust with Quicken Will Maker Pro and always had nagging doubts about if it was done correctly. I accepted the default name it gave the trust, Xxxxx X Xxxx Revocable Living Trust, because I didn't know any better. Now I have a lengthy name to engrave when I Form 1.

    I recently ammended my trust and I used an in-state lawer who is familiar with our state trust laws. Got him off Silencer Shops recommended lawyers, although they don't list one in each state. The lawyer is very thorough, knows NFA trusts, and his process is seamless for getting it done correctly and quickly. He answered all my questions by e-mail very promptly and made the process very clear. It cost $225 and I had it by e-mail the next day. It was worth every penny to me to know for sure that it was all done right. I am also his client now and can contact him if I have an issue.

    My version of Will Maker erroneously states that the trust must be filed in court and I learned that information is incorrect.

    Different states have different requirements for trusts. I think it is worth finding a lawyer in your state but $600 is a little high IMO. $225 was worth my piece of mind.

    PS Keep your trust name short and DON'T include Revocable Living Trust in the name.
    Last edited by DWood; 01-31-15 at 09:13.
    Go in peace, but be prepared for violence.

  7. #7
    Join Date
    Jan 2010
    Location
    New Orleans, LA
    Posts
    597
    Feedback Score
    7 (100%)
    Quote Originally Posted by DWood View Post
    Different states have different requirements for trusts. I think it is worth finding a lawyer in your state but $600 is a little high IMO. $225 was worth my piece of mind.
    This. There is NFA-specific language that needs to be in your trust, and different states have different requirements in general regarding trusts. I've never been a fan of/comfortable with one-size-fits-all trusts. Find someone in your state with specific knowledge of NFA trusts. It shouldn't cost you anywhere near $600 and it's worth the investment. If you end up getting several stamps (and you will) that initial investment seems smaller when you look at the big picture.
    Director of Business Development - Unity Tactical, LLC - Design and Validation for the tactical community.
    www.unitytactical.com / www.facebook.com/unitytacticalllc

  8. #8
    Join Date
    Dec 2013
    Location
    Charlotte, NC
    Posts
    1,591
    Feedback Score
    0
    Quote Originally Posted by SpeedRacer View Post
    There is NFA-specific language that needs to be in your trust...
    I don't know if I agree with that. I paid a lawyer for mine. In looking through it, there's all kinds of NFA/BATFE verbiage. However, there's not one single bit of it that isn't already covered by ATF/NFA regulations.

    There's a whole bunch of "must follow all ATF, federal, state and local laws" statements. Several mentions of not transferring or being in possession without ATF approval. Mention of 5320.20 forms for out of state travel. All kinds of that stuff over and over...every bit which is still true with a "regular" trust.

  9. #9
    Join Date
    Jan 2007
    Posts
    48
    Feedback Score
    0
    199trust.com had a Black Friday sale I took advantage of, $60. This after searching and finding plenty of guys who used them successfully, including a local guy I know personally.

    Your location is not listed. I've heard some states have specific requirements for trusts. Turns out 199trust is in MI as am I.

    My 1st form 1, with only a lower receiver listed on Schedule A, was submitted through eforms late Dec. and approved 31 days later.

    Current price at 199trust is $79.

  10. #10
    Join Date
    Jul 2006
    Location
    Texas
    Posts
    2,827
    Feedback Score
    1 (100%)
    Quote Originally Posted by SpeedRacer View Post
    This. There is NFA-specific language that needs to be in your trust,
    No, it does not "need to be". It "may be", or "it can be helpful" but legally it does not need to be.

Page 1 of 9 123 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •