DIY NFA Trusts

[pbwalker]

I've been looking to setup a trust and see that there seem to be two camps on this thought. DIY (Quicken, LegalZoom, etc.) or paying a lawyer a pretty penny (in the range of $400 to $500) to draw one up.

I'm always looking to save $$ where possible. One of the common complaints I saw were how the DIY kits don't contain anything specific to NFA items, such as conditions on NFA items at death and if someone doesn't meet the conditions to own as define by the ATF.

So, I'm asking the masses here. Has anyone done a DIY Revocable Trust for your NFA items? Are you able to add stipulations to specific items (such as your NFA items) where "upon condition A is met, then trustee B will be allowed to receive said item"?

I know about Sean Cody and some of the other players, but hey...times are tough and I want to use the savings to buy more ammo / guns.

[Middle Age Russ]

I can certainly understand wanting to save money, or use it for other purposes depending on how you look at things. That said, this is one area that I'd go with a tried and true solution, not something that is iffy. YMMV, of course.

[smoothoperator]

Hypothetically speaking, you could go the corporate route if CLEO sign off is the sticking point.

[Carry-a-Kimber]

http://marylandshooter.com/ar15/trust/trust.asp" onclick="window.open(this.href);return false;
Here is a nice example of what a trust for NFA items should look like. IANAL

[Thomas]

I heard there is a gun store in Houston that has a fill-in-the-blank trust form they give for free to people who purchase suppressors at their store (Collector's Firearms I think?). If someone is willing to go buy a suppressor there and make a copy of it and share it with us, that would be great

[alvins]

i had sean cody do mine.when it comes to nfa stuff their isnt any room to make mistakes.

i know some gun shops offer to do a trust for you but that is also called practicing law without a license.

[Sputz]

i had sean cody do mine.when it comes to nfa stuff their isnt any room to make mistakes.

i know some gun shops offer to do a trust for you but that is also called practicing law without a license.

I was told that is only if they charge you for it. Most shops like the one where I got mine had a lawyer draw one up and they just fill in the personal information.

It's not rocket science, I suggest you make sure if you are married make sure you are the grantor and add your spouse as a co-trustee so that they can also use your nfa items without you being around. As a grantor you can amend your trust to add and remove a co trustees.

ianal,
Sputz

[RSJ]

I do not trust legal zoom or any other sites. Period. I also would not want to do my own trust. 400-600 may sound like a lot, but for the guarantee of having someone there to assist you with any "issues" it is worth it.

[rentz]

i had sean cody do mine.when it comes to nfa stuff their isnt any room to make mistakes.

i know some gun shops offer to do a trust for you but that is also called practicing law without a license.

I was told that is only if they charge you for it. Most shops like the one where I got mine had a lawyer draw one up and they just fill in the personal information.

It's not rocket science, I suggest you make sure if you are married make sure you are the grantor and add your spouse as a co-trustee so that they can also use your nfa items without you being around. As a grantor you can amend your trust to add and remove a co trustees.

ianal,
Sputz

I think its a very grey area when saying practicing law without a license. I could see the argument either way.

I talked to one dealer who just had a generic template that you fill out for the trust, but i went the safe route of getting a lawyer to do it.
But, the cost of the trust delayed purchases a little.

[The Annoyed Man]

Pay a lawyer $500 now, versus pay him $50,000 later?

There is an outfit, whose name I don't remember but I have the card of one of their attorneys here in DFW. I spoke with him at the "Silencers are Legal" event at Elm Fork a few months ago. Their cost was $499, and the instrument they provide is multi-state legal.....which is to say that it is legal in ALL states which do not ban NFA items completely. If you want to travel with your suppressor or SBR, it would be nice to know that you can do so without fear of arrest.

[RSJ]

Pay a lawyer $500 now, versus pay him $50,000 later?

There is an outfit, whose name I don't remember but I have the card of one of their attorneys here in DFW. I spoke with him at the "Silencers are Legal" event at Elm Fork a few months ago. Their cost was $499, and the instrument they provide is multi-state legal.....which is to say that it is legal in ALL states which do not ban NFA items completely. If you want to travel with your suppressor or SBR, it would be nice to know that you can do so without fear of arrest.

Exactly!

[PUCKER]

i had sean cody do mine.when it comes to nfa stuff their isnt any room to make mistakes.

http://marylandshooter.com/ar15/trust/trust.asp
Here is a nice example of what a trust for NFA items should look like. IANAL

alvins - just curious, have you looked at the above sample/example trust? Does it appear fairly similar to what you had professionally prepared?

[alvins]

i had sean cody do mine.when it comes to nfa stuff their isnt any room to make mistakes.

http://marylandshooter.com/ar15/trust/trust.asp
Here is a nice example of what a trust for NFA items should look like. IANAL

alvins - just curious, have you looked at the above sample/example trust? Does it appear fairly similar to what you had professionally prepared?

mine is similar with a lot more stuff in it.that sample is 8 pages mine is 29. whos is better?im not a lawyer.but im not going to post mine.

[recaffeination]

Some people are comfortable doing their own IRS tax forms. Some people are not. The same for NFA tax forms.