existing trust -- adding a sbr to it or should I jsut creat a new one just for NFA?

[Ba19]

I did some searching and did not find a suitable answer, If I missed it I do apologize in advance.

I am having an attorney do up a will for myself and wife, medical proxies for both and creating a trust for the house. My wife and I are both Class A holders and my son who is six obviously is not.

I am thinking of putting a SBR in the trusts name with myself and wife as trustees. Any risks in doing so and we will stipulate that in the event of both of us passing that NFA item will need to be sold, since there will be no properly licensed party responsible for that item.

Or do I pay to have an additional trust created just for the NFA item?

Thoughts are appreciated.
Bruce

 

[Acme.Armament]

You can put anything in a trust. Do you have other firearms and are the distribution or sale accounted for in your will and trust?
IMO you should put the NFA SBR into a NFA trust. Contact Joe Hickson, for more info.

 

[Ba19]

That was my thought but still had to ask. Thanks

 

[Arioch]

That was always one of my favorite sig lines Ba19.

 

[hicksonj]

I do not recommend (with emphasis) placing NFA items in standard trusts. You save money by doing so, but the benefits end there.

 

[J.L. Crown]

It's good to see so much interest in trusts.

I practice exclusively estate and trust law and have created hundreds of trusts. Trusts that are done for "estate planning" purposes should not be used to acquire and hold NFA items or, for that matter, any firearms.

Our NFA Trusts are customized to deal with the specific legal issues surrounding the transfer, possession and use of firearms and other items regulated by the National Firearms Act.

There have been occasions when BATFE has initially approved a transfer to a trust and then reversed their decision, claiming that the trust was not properly created. This should not happen with a well designed and implemented NFA Trust.

I have over 38 years of experience in all areas of trust law and have been a gun owner for over 50 years. We will walk you through the entire process of acquiring NFA items using an NFA Trust. We will explain all issues of federal and state law to you in plain English.

We will provide you with 11 pages of detailed instructions on how to purchase NFA items, who can possess them, how to travel with them and how to transfer them.

It is important to maintain a separate Trust bank account. We will provide you with the documentations that you will need to set the account up with no questions from the bank. They will not know the purpose of the Trust.

Who will receive your guns if you die or become disabled? Suppose that they are minors? Suppose that an intended beneficiary is disqualified from owning firearms? Our NFA Trusts deal with these issues.

For further information on our NFA Trusts and on estate planning and settlement for gun owners, please visit our website: CTGunLawyer.com For general estate and trust information, please visit www.TrustLawyer.com

Thanks for looking and stay safe.


Jeff Crown

 

[Rob Boudrie]

You need to get the NFA trust right the first time, as it may be too late to fix an error by the time it is tested. The last thing you need is your attorney telling you that accepting the feds offer to let you surrender the items in the trust and not being criminally charged is a "really good deal"

One of the things attorney Joe Hickson recommends is that the trustee of an NFA trust *NOT* be an individual who will be involved in devaluing the items in the trust (i.e., shooting them). The last I heard, Joe was charging $750 for his NFA trusts.