22_Shooter 1,560 Posted January 26, 2012 Report Share Posted January 26, 2012 People talk about forming trusts all the time, when it comes to NFA items. I can see the benefit, in that it bypasses the CLEO sign-off requirement. But for retarded folk like me, what other plusses are there to a trust? I'm talking about plusses relating to NFA items, and relating to non-gun areas. What else can you do with a trust? (I realize we have an NFA section, but this isn't an NFA-specific question) Quote Link to post Share on other sites
theorangeplanet 968 Posted January 27, 2012 Report Share Posted January 27, 2012 I believe multiple people can be involved in it... so if you're married you can have your wife on the trust be legallly able to access your safe. Quote Link to post Share on other sites
armalite_ar50 86 Posted January 27, 2012 Report Share Posted January 27, 2012 Yer shit is straightened out by LAW. If you can't figure it out then see a lawyer. BY ALL MEANS if you have anything worth losing to the state or unwanted relatives get a trust... Don't want to be long term on life support? get a trust. IE: Tubes shoved up yer ass, and cock, and down yer nose and throat? @ least get a advanced directive then a living trust. I will admit I got my trust for the MG's and silencers but it's the one thing I can say where the Gov. helped, since Barney Fife wouldn't sign for a NFA I got all my affairs straight. Right down to who gets what, when, and where. As far as the tube thing shoved here and there goes...... take it from me I'm a nursing office float. if you even think about dieing without a living trust DNR or advanced directive. YOU WILL more than likely spend the next X amount of years with us "keeping you alive" feeding you though a tube, wiping your ass, putting you on a vent, and flip'n you like a pancake, so you don't get bed sores. Your X and everyone else will claim a piece of the pie and leave your kids or the one you want to have it broke after legal costs....... PLAIN and SIMPLE If you have something worth losing and you know where you want it to go. Or you don't want to spend X amount of time on life support with NO QUALITY of life.... GET a TRUST. 1 Quote Link to post Share on other sites
frz1197 128 Posted January 27, 2012 Report Share Posted January 27, 2012 Probably a couple dumb questiond, but can people in multiple states be, on an nfa, trust, and can the nfa trust also do the standard will stuff? Quote Link to post Share on other sites
22_Shooter 1,560 Posted January 27, 2012 Author Report Share Posted January 27, 2012 Good info, guys. Thanks. No doubt I'll talk to a lawyer if the time comes that I do form a trust. Just looking for other perks of having one, besides gun-related. The whole CLEO sign-off thing isn't an issue for me (I work for the guy, lol). Keep 'em coming if you got anymore perks. Quote Link to post Share on other sites
Scott Kenny 144 Posted January 27, 2012 Report Share Posted January 27, 2012 The big one is multiple people being able to legally access the NFA items without you being there to oversee their use. A secondary one is that the Trust will spell out how the NFA items are supposed to be 'disposed of' (ie, who gets what) in the event of your death. Quote Link to post Share on other sites
22_Shooter 1,560 Posted January 27, 2012 Author Report Share Posted January 27, 2012 The big one is multiple people being able to legally access the NFA items without you being there to oversee their use. A secondary one is that the Trust will spell out how the NFA items are supposed to be 'disposed of' (ie, who gets what) in the event of your death. I've heard about the "other people can use your NFA toys without you present" thing. But with the trust spelling out who gets the NFA items after my death........would that mean that the people named in my trust can take possession of said NFA items without the initial process of obtaining them? Such as paying the tax and all that. Because with a trust, a person doesn't technically own the items, correct? They "belong" to the trust, right? Quote Link to post Share on other sites
Scott Kenny 144 Posted January 27, 2012 Report Share Posted January 27, 2012 That's my understanding, that firearms belong to the trust, but I am not a lawyer. I only know enough legalese to know when to go find a lawyer, and ask them the right questions. If the trust is set up to dissolve after your death, then someone would need to pay the transfer fees when they took custody of the NFA items. But if the trust doesn't dissolve at your death, then no-one would have to pay transfers because the NFA items are still property of the trust. It depends on the nature of the trust. Quote Link to post Share on other sites
marine_mike 8 Posted January 28, 2012 Report Share Posted January 28, 2012 The big one is multiple people being able to legally access the NFA items without you being there to oversee their use. This was one of the reasons for me getting the ball rolling on my trust yesterday. My girlfriend is a beneficiary, with my stepfather as the successor trustee. When I leave, she can legally have the items in her house (where I live). She can't sell them, and if I die, my stepfather gets them. Quote Link to post Share on other sites
kevin.rose0@gmail.com 62 Posted January 29, 2012 Report Share Posted January 29, 2012 There are ways to structure a trust so that the contents of the trust are protected from judgements against you and other legal cliams. I have no idea of the details, but I'm told it is possible. Quote Link to post Share on other sites
Fallschirmjager667 729 Posted January 29, 2012 Report Share Posted January 29, 2012 there are no transfer fees for inherited NFA items, there is a special form you fill out and it does not require the tax Quote Link to post Share on other sites
TapeWorm3 104 Posted January 29, 2012 Report Share Posted January 29, 2012 One great thing about a trust is you can put all your property in a family name. So no deadbeat can marry into the family and quickly divorce thinking they can get half of property. The get nothing. it keeps your children from losing things you work hard for. Quote Link to post Share on other sites
22_Shooter 1,560 Posted January 29, 2012 Author Report Share Posted January 29, 2012 Thanks for all the info, fellas. Much appreciated. Sounds like a trust is more valuable than I realized. Quote Link to post Share on other sites
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.