Author Topic: What's the deal with these "trusts" that I hear about ?  (Read 21086 times)

alfsauve

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #10 on: February 03, 2013, 04:40:16 PM »


I contacted Mauler and have received, just yesterday, the Trust from him.  Mine is simple.  My wife, kids and I.  Nothing complicated as far as line of succession goes.  The trust takes 36 pages.   While I haven't had time to read it from beginning to end, the parts I have examined are professionally crafted.    I'd be very leery of anything shorter as it may not cover near enough.

I talked to my personal attorney (and friend) about this.   He knows little about NFA, but said that trusts in general are a good way to go for protecting assets.  The caveat is that the costs of establishing and maintaining a trust have generally only favored those with millions of dollars in their estate.   Given my explanation of the NFA complications he gave me the go-ahead to invest in Roy's work.   I think he will be pleased with the product. (I need him to make sure the NFA trust and my will don't give rise to conflict upon my departure.) (My NFA trust covers "incapacity" as well as death.)

Typical, even simple, estate trusts cost into the thousands to prepare.  Roy's is a bargain. $400, $500 or even $1,000 for a properly executed trust is well worth the gain in dealing with Title 3 assets.   





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PegLeg45

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #11 on: February 04, 2013, 12:29:39 PM »
Thanks for the update info, Alf.
I've been thinking about a trust, even though I currently do not have any Class III items, as I understand it, with the trust in place, several steps are allowed to be omitted in the red tape process. I also think that while currently there are no advantages to a trust for non Class III guns (they can be done in a will), the future may change and it may be beneficial there also.

I have looked at mauler's page and think his prices are great for what he offers. Since he is basically a neighbor (less than 20 miles from me) I could handle it FTF.
"I expect perdition, I always have. I keep this building at my back, and several guns handy, in case perdition arrives in a form that's susceptible to bullets. I expect it will come in the disease form, though. I'm susceptible to diseases, and you can't shoot a damned disease." ~ Judge Roy Bean, Streets of Laredo

For the Patriots of this country, the Constitution is second only to the Bible for most. For those who love this country, but do not share my personal beliefs, it is their Bible. To them nothing comes before the Constitution of these United States of America. For this we are all labeled potential terrorists. ~ Dean Garrison

"When it comes to the enemy, just because they ain't pullin' a trigger, doesn't mean they ain't totin' ammo for those that are."~PegLeg

alfsauve

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #12 on: February 04, 2013, 04:11:36 PM »
As Roy said previously, a properly executed trust has at a minimum the following advantages:

Quote

The Trust does not submit fingerprint cards with a form 1 or form 4.

The Trust does not submit a photograph with a form 1 or a form 4.

The Trust does not have to ask a chief law enforcement officer to approve the form with his signature.
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Paraguy

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #13 on: February 18, 2013, 02:34:48 PM »
I am in the first stages of setting up an NFA Trust.  Looking at $6-700 so am confident that this will be a strong document.  I saw all of the pluses of the NFA trust, are there any downsides aside from cost and paperwork?
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6mtraining

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #14 on: March 19, 2013, 01:41:53 PM »
When purchasing a firearm and you have a trust in place, do you show the weapon being purchased by the trust or to the individual.
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Re: What's the deal with these "trusts" that I hear about ?
« Reply #15 on: Today at 01:58:08 PM »

PegLeg45

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #15 on: March 19, 2013, 03:10:42 PM »
When purchasing a firearm and you have a trust in place, do you show the weapon being purchased by the trust or to the individual.

I believe the actual purchase is by the trust..... and then anyone named as a 'trustee' or 'designee' within the trust has legal access.
"I expect perdition, I always have. I keep this building at my back, and several guns handy, in case perdition arrives in a form that's susceptible to bullets. I expect it will come in the disease form, though. I'm susceptible to diseases, and you can't shoot a damned disease." ~ Judge Roy Bean, Streets of Laredo

For the Patriots of this country, the Constitution is second only to the Bible for most. For those who love this country, but do not share my personal beliefs, it is their Bible. To them nothing comes before the Constitution of these United States of America. For this we are all labeled potential terrorists. ~ Dean Garrison

"When it comes to the enemy, just because they ain't pullin' a trigger, doesn't mean they ain't totin' ammo for those that are."~PegLeg

Paraguy

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #16 on: March 19, 2013, 04:09:08 PM »
I am in the process of establishing one right now.  One of my first questions will be if I have to pay an FFl to transfer my current collection into the trust.  At $35 each, that is another cost to consider. 
Regardless, I will likely open a bank account in the name fo the trust so all purchases will be from the trust.
Guns don't kill people, bullets kill people.

DanPatWork

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #17 on: March 20, 2013, 06:11:27 AM »
 I would be interested to see if your trust will protect your non-NFA (tax stamped)  regulated  firearms.  I've  received numerous opinions regarding this with zero consensus,  and no definitive answers.
"The laws that forbid the carrying of arms are laws of such a nature. They disarm only those who are neither inclined nor determined to commit crimes.... Such laws make things worse for the assaulted and better for the assailants; they serve rather to encourage than to prevent homicides, for an unarmed man may be attacked with greater confidence than an armed man."
- Thomas Jefferson, Commonplace Book (quoting 18th century criminologist Cesare Beccaria), 1774-1776

Paraguy

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #18 on: March 20, 2013, 02:04:47 PM »
I would be interested to see if your trust will protect your non-NFA (tax stamped)  regulated  firearms.  I've  received numerous opinions regarding this with zero consensus,  and no definitive answers.
That is surely going to be discussed with the attorney on a call scheduled to take place in a couple of weeks.  If Feinstein had her way my AR-15 would go to the State if I died, and I am hoping that this trust would protect from a law like that.  I am spending the money to do this right because of what i don't know.  This administration and possibly ones to follow may use a tragic event to implement anti-Second Ammendment orders and I want to make sure that I am positioned in the best way possible not to have my promised rights infringed.
I will post on what I learn.
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Paraguy

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Re: What's the deal with these "trusts" that I hear about ?
« Reply #19 on: April 30, 2013, 11:06:19 AM »
Firearms trust now in hand, ready to be read through (several times) and finally notarized.  More to come....
Guns don't kill people, bullets kill people.

 

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