Forming a Trust for NFA items

[Graves]

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.

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.

[Hoopty]

Or just post it here for the masses!

[DeusExMachina]

Alan replied to me today,

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

alan

Either I mis-heard or someone mis-spoke.

[Irving]

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

[ThunderSquirrel]

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"

[Graves]

Alan replied to me today,



Either I mis-heard or someone mis-spoke.

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

[mrfish83]

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

[Graves]

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

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

[opie011]

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?

[TriggerHappy]

Most likely, but if your dads llc is ever in a legal battle...well we can all do the math on that one. I would advise against it. People have been known to be sue happy these days.