Bellco refused to open checking account in the name of my trust.

[th3w01f]

Last week I finally had my NFA trust drafted and today I went to have the paperwork notarized and open an account in the name of the trust (I've seen several recomendations to have a checking account in the name of the trust for purchases and paying the tax).

The person at Bellco happily notarized the trust but when he tried to create the checking account their 'special services' denied it due to the mention of NFA in the trust.

I contacted their 'SS' for more details and I was told that they have made the decision to not allow any accounts for trusts that can own firearms. Correct me if I'm wrong but can't any living trust have firearms? I know many people use quicken for their trusts.

Please let me know if you have a more firearms friendly bank that I can use and if you can make a better argument than me or just feel like beating your head against the wall the number for Bellcos 'SS' is 303-689-8188..... And they are there on Sat. ;)

[mrfish83]

I used 1st Bank...

[Wiggity]

Colorado community bank will work

[ColoWyo]

They were great when we started a business account with our FFL/SOT.

[Fentonite]

I used Wells Fargo, and they were happy to help. They required either a minimum balance or an automatic direct deposit every month, so they're probably not the cheapest, but the direct deposit works to help me save up for my next prize.

[Circuits]

Your trust doesn't have to have an account.

It doesn't help or speed anything up. Any trust can own firearms already, and have always been able to. Your trust is being singled out because it mentions firearms in its name or something.

But, major bank FAIL for being PC idiots about legal firearms-related entities. Take your business elsewhere, and let them know why.

[th3w01f]

Thanks for all the feedback. I'm planning on talking to someone else there on Monday and if that fails it looks like 1st Bank has a free checking account that will work or I may just bypass setting up an account for the trust.

It's not like the money wouldn't be going directly from my account to the trust account to pay anyway.

[HoneyBadger]

My trust doesn't have an account. I am a trustee, so a check with my name on it is valid for things like the tax stamps.

[JohnnyEgo]

I've always just written personal checks for my NFA items. An extra checking account seems like a lot of work, unless you are trying to hide gun purchase funds from the little woman...

[th3w01f]

I have another question; I’m a trustee and my wife is a co-trustee. Do you think there’s any issues with using checks from our joint account (with both our names) or should I play it safe and just use my checking account?

[HoneyBadger]

I have another question; I’m a trustee and my wife is a co-trustee. Do you think there’s any issues with using checks from our joint account (with both our names) or should I play it safe and just use my checking account?

Nope. My check from our joint account cashed just fine a few weeks back. it has both of our names on it. The check just needs to have the name of a trustee on it at a minimum.

[brutal]

Nope. My check from our joint account cashed just fine a few weeks back. it has both of our names on it. The check just needs to have the name of a trustee on it at a minimum.

Who/how did you establish the trust? I'm in the early stages of suppressor obsession and our asshat Sheriff Weaver in DC won't sign. Prefer to go in as cheaply as possible. Do you have a separate trust for your estate or can they be combined?

I know there's threads ad nauseam, but it's so much easier to be lazy and ask those who have done so in a current thread. :D

[ColoWyo]

Who/how did you establish the trust? I'm in the early stages of suppressor obsession and our asshat Sheriff Weaver in DC won't sign. Prefer to go in as cheaply as possible. Do you have a separate trust for your estate or can they be combined?

I know there's threads ad nauseam, but it's so much easier to be lazy and ask those who have done so in a current thread. :D

Send me a PM if you would like the contact of the attorney we use for our customers when they go the trust route. He's the cheapest I've seen.

[th3w01f]

Here is the info of the attorney I used (referred by another member). He has been great to work with and I checked with him before posting his info.

Very reasonable prices; just send an email and you'll get all the details from him.

Rod Woodard
Attorney at Law
Loveland, Colorado
NFATrust@WoodardLaw.com (NFATrust@WoodardLaw.com)

[ColoWyo]

Rod is the guy we always recommend to people.

[ssgenuine]

Another +1 for Rod. The way he sets it up it's easy to add and remove co-trustees. Makes it nice when you go hunting pigs with family members to be able to add them right then so they can use one of the suppressed guns when you split up.
I didn't open a new account either, PITA. Just make sure your reciepts for the suppressors are made out in the trusts name. You can't buy the suppressor and then transfer it to the trust, trust needs to be purchaser.
Got to shoot my Thunderbeast on my Keltec RFB a couple weeks ago, that is a sweet setup. I felt it was hearing safe, no louder than a 22. And it makes the bullpup feel more balanced. Nephew just bought a 30p1 also. Wait, wait wait wait.....

[th3w01f]

Just make sure your reciepts for the suppressors are made out in the trusts name. You can't buy the suppressor and then transfer it to the trust, trust needs to be purchaser.
..

This brings up another question related to my other thread. When I paid for the TB from MGT they just had me use a personal CC over the phone so I know it's not in the name of the trust since they didn't ask for the name.

Since they don't have it in stock is this something that can be taken care of when we do the paperwork or should things have been done differently up front?