NFA trust creation cost

[kpp80202]

I've been looking at the Silencer Shop site re potentially getting a can and/or an SBR, and noticed they have "single shot trusts" for $25 to set up a trust for one can or SBR. I'm sure it doesn't have the bells and whistles that a normal NFA trust would have regarding what happens to the NFA items when the trustee passes. Do any of you know how much a normal NFA trust costs (as prepared by a lawyer)?

Anyone have any advice on the whole trust process? I'm the only one in my family interested in shooting at the moment, though my minor kids are slightly interested (they have fun doing it, but never really think about it).

[Lurch]

IMO it really depends on how deeply you are going to get involved. If you are buying one can and building one sbr then I would go cheap. You can spend thousands on a trust which will guarantee that things will get handed down properly. If you aren't worried about handing them down they will have to be destroyed when you kick the bucket. You also can just go the individual route. Now if you plan on getting into mg's get a good trust.

[Irving]

Rodney (NFATrustGuy) on here does them for under $500 last I checked. Many, many people on here have used him. I used Rodney myself.

[ray1970]

I thought he quit doing those?

[ChickNorris]

ish

[00tec]

I thought he quit doing those?

He quit catering to window shoppers that buy elsewhere.

[kpp80202]

Now if you plan on getting into mg's get a good trust.

So why do you say this for MGs?

[Little Dutch]

IMO it really depends on how deeply you are going to get involved. If you are buying one can and building one sbr then I would go cheap. You can spend thousands on a trust which will guarantee that things will get handed down properly. If you aren't worried about handing them down they will have to be destroyed when you kick the bucket. You also can just go the individual route. Now if you plan on getting into mg's get a good trust.

The NFA items are transferred to your heir(s) with a Form 5, tax free transfer.

ETA - To clarify, there would be no reason to destroy them. Unless you have no legal heirs willing to take them.

[Hoser]

NFA purchases are pretty much a life long deal.

Do yourself a favor and have a real lawyer like Rodney prepare your trust. And you put him on retainer for a year for NFA related questions.

[Irving]

I thought he quit doing those?

He did for a while, then enough people asked for him so he offered up his services to us again. But I can't speak for him.

So why do you say this for MGs?

A can or an SBR doesn't have the value that a registered machine gun has. A can or SBR/SBS can just be made again, where as no more machine guns can be registered.