Forming a Trust for NFA items

I'm not saying you cant successfully create a solid trust with Quicken, I'm just saying its in your best interest you know exactly what you're doing - I don't so I'll fork over a little coin to somebody who does.

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Originally Posted by Stuart

That's a good question, but when dealing with the ATF, one can never know.

Graves, I don't understand how editing your trust later would make it less likely to be legal. However, I don't know anything about trusts.

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Well I imagine when one goes off of what he/she heard or seen on the interweb to form an NFA trust, the odds of f$&#ing it up would be greater than having it made up by a lawyer who specializes in nfa trusts. I could see how $600 to cya on a $400 item sounds crazy but if your trust isn't bulletproof, you face a hell of a lot more than losing the $400 you put into your SBS.

ETA - Some good info in this thread: http://www.texasguntalk.com/forums/c...html#post14136

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Originally Posted by DeusExMachina

I'm still up in the air, though. Last time I was at Machineguntours, the guy there (who I forget his name) said Alan (the owner) knew a gun enthusiast lawyer who will form trusts for $250. I keep forgetting to call when Alan is there and get the number. For that it might be worth the peace of mind.

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You can PM Alan directly: http://www.co-ar15.com/forums/member.php?u=54
If you get anywhere with that quote please PM me.

Or just post it here for the masses! [Beer]

Alan replied to me today,

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We have a lawyer that does does them for our customers for $750.

alan

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Either I mis-heard or someone mis-spoke. :(

I've never heard of an attorney/lawyer doing one for less than $600.

From what I've been told, the trust must be set up correctly for the transfer of the weapons to the trustee. I.E. must contain some sort of wordage that states 'The trustee is legally allowed to own a firearm' or 'The state the trustee resides in allows the legal possession of said firearms' etc etc.

If you leave a son as a trustee, and 6 years from now he is a felon living in California, obviously he cannot take possession of the weapons. NFA Trusts need a little better cover your ass policy than a trust for a house , car, bank accout, etc.

With that being said, I am not a lawyer, nor do I play one on TV.
I was told this by an Estate Lawyer who helped my Grandfather make a will. And in his exact words "I Know nothing, and I mean nothing about NFA Trusts, take all that with a grain of salt"

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Originally Posted by DeusExMachina

Alan replied to me today,



Either I mis-heard or someone mis-spoke. :(

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Dayum.
That's a little on the high end.

FYI - I heard quotes from $750 to $1200 from the attorneys I spoke to.

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Originally Posted by mrfish83

FYI - I heard quotes from $750 to $1200 from the attorneys I spoke to.

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I looked around last year and I found a couple closer to $400 but of course I can't remember where that was.

Having a LLC allows you to have NFA items, correct? If so, my question is, my dad owns a company which is a LLC and I'm the only employee...can he use his LLC to obtain NFA items and also can I take possesion of them as an employee?