gmorgan 2 Posted October 31, 2008 Report Share Posted October 31, 2008 Legal Question Trusts OK I'm finally sick and tired of going to local law enforcement and asking for permission to own a NFA weapon, and jumping thru all the hoops that entails. I have decided that a Trust is the way to go but I really have no idea how to go about it, living trust, revocable trust, LLC, boilerplate trust ??? Here are the things I would like the Trust to accomplish for me 1. Remove the need to get local law enforcement endorsement for NFA purchase 2. Provide a method for my heirs to inherit my NFA weapons 3. Provide a way for others in the Trust to use my NFA weapons 4. Be as maintenance free as possible i.e. no need for tax returns, no need for annual minutes and all the other corporate BS some of the trusts would require I'm sure I have seen posts on this matter here but my search fu is weak, can anyone here guide me to the relevant posts and possible provide me with a little personal advice and insight on this matter ? PS: I live in NW Ohio anyone know of a good lawyer who could set one up ? Quote Link to post Share on other sites
HarvKY 72 Posted October 31, 2008 Report Share Posted October 31, 2008 Hi there. I'd like to piggyback on your post with some related question/info (if considered off topic, etc just PM me and I'll delete this) Several folks have posted about buying/using a Will preparation software product (off Ebay, etc?) I looked at LegalZoom where the lowest price for the Living Trust setup is $219 http://www.legalzoom.com/living-trusts/liv...ts-pricing.html Just wondering about the DIY software programfolks have used ; what brand(s) is best, and are there additional legal or filing fees that or required beyond just creating the paperwork via the software? Thanx, HarvKY Quote Link to post Share on other sites
Racecar_Guy 0 Posted October 31, 2008 Report Share Posted October 31, 2008 (edited) I did my first SBR (10.5" AR-15) using a Trust. Quicken Willmaker is really inexpensive, less than $20 when I got it. When using Willmaker, I used a Living Trust - Basic Trust. It will pretty much walk you through everything. Please read your State Laws about Trusts, each state is a little different. In Texas, all I had to do was get it notarized to be legal, but every state is different. Edited October 31, 2008 by Racecar_Guy Quote Link to post Share on other sites
bigj480 203 Posted October 31, 2008 Report Share Posted October 31, 2008 Legal Question Trusts OK I'm finally sick and tired of going to local law enforcement and asking for permission to own a NFA weapon, and jumping thru all the hoops that entails. I have decided that a Trust is the way to go but I really have no idea how to go about it, living trust, revocable trust, LLC, boilerplate trust ??? A revocable living trust is the way to go if you are doing a trust, you can easily add property to it and there are not annual fees(at least in Texas). The downside is that you can only list one other person on it that can have access to the guns, only they can have the key or combination to the safe that holds the NFA Items. Typically, this is your spouse but I listed my brother. Using an LLC, you can list many more people but there is also an annual fee and tax complications, IIRC. You can google search "nfa trust" and come up with some information, you can also search ar15.com for info. In Texas, all I had to do was get it notarized to be legal, but every state is different. In Texas, you also must have property in it before it is a legal entity. My trust lists that property as one dollar. I had Mine done by a lawyer who I found through David Goldman, but it cost me $500 and I'm not sure it was worth it. That said, I didn't feel comfortable with the Quicken-WillMaker version, but it would probably work. Quote Link to post Share on other sites
jrance@iacwds.com 716 Posted October 31, 2008 Report Share Posted October 31, 2008 A little homework for the serious - http://www.ar15.com/forums/topic.html?b=6&...9942&page=3 http://www.arizonagunlist.com/How_to_buy_N...EO_signoff.html http://www.quarterbore.com/library/pdf_fil...ledriflefaq.pdf http://www.cs.cmu.edu/afs/cs.cmu.edu/user/...ist/nfa_faq.txt http://www.ar15.com/forums/topic.html?b=6&...942&page=31 1911 Quote Link to post Share on other sites
HarvKY 72 Posted November 1, 2008 Report Share Posted November 1, 2008 Thanx 1911 I'll read though those links to see if Ive missed anything. Kinda leaning towards using the LegalZoom site - much less than $500+ .......which does includes the leather chairs and a big smile as you hand them a check though . After all Shapiro helped get OJ off so it has to be rather legit Cheers, HarvKY Quote Link to post Share on other sites
bigj480 203 Posted November 1, 2008 Report Share Posted November 1, 2008 Kinda leaning towards using the LegalZoom site - much less than $500+ .......which does includes the leather chairs and a big smile as you hand them a check though .Cheers, HarvKY Yeah, there was some NFA specific language, but not enough to justify the cost IMO. They did have comfy leather chairs and the female lawyer was attractive, so at least I got something for my money. Quote Link to post Share on other sites
rocman 0 Posted November 1, 2008 Report Share Posted November 1, 2008 Sean Cody in Houston, Tx does NFA specific trusts for people in Tx but might be able to help out others also. He is 300.00 to get it done. I can not say that you will need anything more than the Quickens Will Maker, but for the diff in cost it might be well worth it to have someone versed in it that does it daily and can help you out with any specific questions. Sean sells plenty of suppressors and stuff so it would be well worth his while to make sure he is up to date on everything. RG Quote Link to post Share on other sites
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