Found this article about the EasyTrust available from SilencerCo, "SilencerCo Now Sells NFA Trusts for $129".
Further evidence of the race to the bottom in NFA trust pricing.
Further evidence of the race to the bottom in NFA trust pricing.
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I think what you're seeing is a natural (and healthy) function of competition, but also microeconomics: with online "fill-in the blanks" NFA trusts, it's all about start-up costs. Once you've covered your initial investment in developing a suite of forms, and both a back end and a front end for your site (all of which can be pretty costly), it's going to be nearly 100% profit, as the marginal cost of providing each additional form is close to $0.00.
That being said, a colleague of mine and I are working on launching our own online form service (with the option of add-on legal services). We're going to be pricing very competitively.
How cheap is too cheap? Link to that deal
Looks like 199trust has been as low as $49 in the past, and there's another company offering a $39.95 NFA trust kit.
If down the road you want to start spending big money on firearms there is nothing stopping you from paying a lawyer to set up a new trust that will meet your needs.
If someone wants to upgrade their DIY NFA trust there's no need to form a new trust. You can contact an attorney that specializes in NFA trusts and they'll be able to amend and restate your trust in a form designed for holding title to NFA items. I've done this for a few clients and it's relatively affordable.
I got you all beat. Willmaker pro off ebay for $19.99 back in 2007...ATF accepts it everytime...
Reputation (e.g. reviews by other customers), and how long they've been in the NFA trust business.A question for those of you that purchased your NFA trust online from a form vendor (such as 199trust, Easytrust, Coyote, etc.): why did you chose that particular vendor? Were there other considerations other than just price?
Perfectly happy with my $85 Coyote Rifleworks trust. It's not for planning a $2 million estate, it's for a lousy $600 SBR...and primarily the convenience of E filing. I think people are WAY overthinking this.
Perfectly happy with my $85 Coyote Rifleworks trust. It's not for planning a $2 million estate, it's for a lousy $600 SBR...and primarily the convenience of E filing. I think people are WAY overthinking this.
Producing a brief but effective document requires more skill and effort than throwing together a long and overly complex one by cutting and pasting from various sources.
For example, their standard trust incorporates the entire wording of the current Federal Law definition of "Prohibited Person", ending with "Any person who is otherwise prohibited from possessing a firearm". Given that final clause, incorporating the existing Federal Law as part of the trust paperwork is pointless, just adding bulk but no value.
Reputation (e.g. reviews by other customers), and how long they've been in the NFA trust business.
i may one day want to spruce mine up as things have changed since i originally established it, change up minor details and i had some questions about beneficiaries. what's your rate for that?
won't be for some time, but it's on my to do list.
GunTrustLawyer said:One of the worst examples of an online trust we have seen is the Easytrust being promoted by Silencerco. According to them, there may be as many as 1000 people who have already received this trust which contains numerous problems. For a trust that is only 4.5 pages long, it appears to have even more problems than a Gun Trust drafted from Quicken. The list of problems is huge, but the biggest problems include:
The trust permits NFA violations throughout the document.
The trust permits any trustee to sell your guns without your consent.
The Trust permits trustees to take away your gun rights if in their opinion you can’t handle your own affairs.
The trust directs distribution to beneficiaries upon your death without any written permission (a violation of the NFA)
The instructions incorrectly state that the trust needs to be registered in many states where it does not (seems to be similar to the problem we reported with the quicken trust)
Directs you to obtain an EIN number for their trust when it is not necessary.
I guess you get what you pay for...