garnaz 215 Posted July 5, 2013 Report Share Posted July 5, 2013 Just put in order for first NFA purchase. Now to generate trust. Quote Link to post Share on other sites
gunfun 3,931 Posted July 5, 2013 Report Share Posted July 5, 2013 Get a good trust that is designed for NFA. Quote Link to post Share on other sites
zaxon_182 44 Posted July 6, 2013 Report Share Posted July 6, 2013 I'd follow GunFun's advice and get an NFA specific trust. You could use legal software to make a valid trust, I'd personally prefer to have a reputable lawyer in my state write it to cover my ass. Congrats and enjoy! I hope the wait starts to decrease a little so you can have your stamp before next summer! Quote Link to post Share on other sites
gunfun 3,931 Posted July 8, 2013 Report Share Posted July 8, 2013 Not just your butt either. What about your wife and heirs? What happens to them if the Title II toys are at home and you aren't? What happens if you die or become ineligible for mental or death reasons? Do they become instant possessors without going through the NFA transfer process? Quicken trusts and the like do not answer that kind of question. They also don't give you a way to let your wife or friends or gun club borrow your can. Quote Link to post Share on other sites
zaxon_182 44 Posted July 8, 2013 Report Share Posted July 8, 2013 Excellent point! I hadn't put any thought into what would happen after becoming ineligible to possess title II items. Quote Link to post Share on other sites
gunfun 3,931 Posted July 9, 2013 Report Share Posted July 9, 2013 Multiple beneficiaries of a trust is a very nice thing. I am not sure how all of that works, but I would like to do something like "For the use of you, your wife, your best friend... The guy who runs the local IPSC matches..." NFA originally intended companies like banks or the Pinkertons to be able to have a title II arsenal for fending off Capone, Dillinger, etc. and allow all the employees access, while pricing we lowly individuals out of the market. I don't know if only the primary beneficiary has to do the background stuff and be present... But all of those things seem worth paying a lawyer a few hundred to find out, and lock down. 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.