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I do not know anyone who has purchased NFA items as a resident of Denver using a trust. However, there is no reason it shouldn't work. Denver city/county gov't doesn't know the trust exists, state law allows NFA items. So an NFA purchase on a trust in Denver should be approved.Quote:
It was kind of vague, but I'm wondering if anyone has gone the trust route in Denver and been successful.
Who exactly told you this information?Quote:
Originally Posted by DeusExMachina
I wouldn't place any faith in it.
$10 says it was a cop.
I know someone that lives in the city of Denver and has 2 each Form 1s and 2 each Form 4s. The Form 4s were through Denver Bullits. Give Greg a call, he's always been friendly to me.
Someone I bought an AK from, off of Armslist. He lived in Douglas and just bought an SBR.Quote:
Originally Posted by agent-smith
Just spotted this thread. I can tell you from my years in estate planning that legally speaking, a revocable living trust is no different than you during your lifetime. It is not a separate entity, that's for sure. My guess would be that a Quicken document could potentially expose you to NFA violations, even if the ATF approved the purchase. Off the top of my head I suspect an NFA trust should be irrevocable, or you will have taken possession of items for which you did not personally pass a background check.
(Could the ATF be approving these knowing that they're flawed? Scary...)
I'm not an attorney, but I know a lot about estate/trust law and asset protection. I'd guess an NFA trust would have to be rather specialized to survive scrutiny. Sounds like some bad- or disinformation is floating around.
I have another idea for holding NFA items that hasn't even been mentioned yet. In fact, this would fit right in with a business I'm starting. I'll look into all this and report back...
(If anyone has an NFA trust or corporation they'd let me read, that would help. I'd meet you, buy the coffee, and return all documents before we parted ways. PM me.)
Many people use the Quicken program to make their trusts, and the ATF DOES approve them; but every attorney I've ever heard speak on the issue says that there is specific wording that Quicken won't have and you are better off to pay the $600 to have an attorney write it.
I think it depends on what you are putting in there. If your life long dream is to buy a $200 870 and make it an SBS for another $200, then it is not financially sound to spend $600 to make a $400 gun. However, like most other gun stuff, NFA is probably pretty addictive and your one SBS could quickly turn into SBS, SBR, several suppressors, and later some MGs. Something to keep in mind.
So this begs the question - Which attorney(s) have you guys used (in the Denver/Aurora area)? Who would you recommend?
When I get my first stamp I plan on using Jeremy Cave.
Cave Law does NFA Trusts. You do have to have the NFA language in the trust. Call him he is great