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Author Topic: NFA trusts  (Read 3124 times)

Offline RobertH

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NFA trusts
« on: September 30, 2009, 08:47:58 PM »
anyone know anything about them?  i know a little, but would like to know more.

i know exeter arms is a class III dealer and they make trusts.  ive heard those trusts are (or could be) illegal.

any opinions?  im shopping for an NFA gun soon.



Offline Dan W

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NFA trusts
« Reply #1 on: September 30, 2009, 08:49:52 PM »
I know this, IF you live in Lincoln, it is the only way you can get an NFA firearm. Chief Casady will not sign off on the paperwork. 
« Last Edit: September 30, 2009, 08:51:19 PM by Dan W »
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Offline RobertH

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NFA trusts
« Reply #2 on: September 30, 2009, 09:26:51 PM »
I know this, IF you live in Lincoln, it is the only way you can get an NFA firearm. Chief Casady will not sign off on the paperwork. 

yea, Rob from exeter arms said our county sheriff was the same way.  im hesitant to start a trust because ive heard so many of them have been declared invalid.  and i hate to break the NFA laws.

exeter arms makes trusts and ive read on a few law websites that that practice is illegal.  anyone know for sure?  but they do so many silencers, SBR/SBS and other class 3 firearms.  i just don't want to get screwed in the end.

Offline SBarry

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NFA trusts
« Reply #3 on: September 30, 2009, 09:45:46 PM »
Rob and Hope did not make the trust, they just have the correct paperwork for you to fill out, get notarized and send in. You can get the paperwork from them and take it to an attorney if you want to be cautious.
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Offline RobertH

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NFA trusts
« Reply #4 on: September 30, 2009, 09:53:14 PM »
Rob and Hope did not make the trust, they just have the correct paperwork for you to fill out, get notarized and send in. You can get the paperwork from them and take it to an attorney if you want to be cautious.

ok litlrat, i just want to clarify this..... so basically they copied a trust from a lawyer and they use it for their own use.  is that correct?  i remember rob saying something close to that, but im not smart in the courts/lawyer realm of things.

ill most likely take it to a lawyer just to be safe.  better safe than sorry.

Offline Dan W

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NFA trusts
« Reply #5 on: September 30, 2009, 09:55:43 PM »
Do you get the trust first and submit the paperwork before you purchase an NFA item?
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Offline Jesse T

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NFA trusts
« Reply #6 on: September 30, 2009, 10:12:29 PM »
I think you pay for/layaway the item first, because you need the SN of the item on the paperwork.  The item waits at the dealer until your stamp goes through.  I'm sure someone will correct me if I'm way off base here.
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Offline SBarry

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NFA trusts
« Reply #7 on: September 30, 2009, 10:31:32 PM »
Rob and Hope did not make the trust, they just have the correct paperwork for you to fill out, get notarized and send in. You can get the paperwork from them and take it to an attorney if you want to be cautious.

ok litlrat, i just want to clarify this..... so basically they copied a trust from a lawyer and they use it for their own use.  is that correct?  i remember rob saying something close to that, but im not smart in the courts/lawyer realm of things.

ill most likely take it to a lawyer just to be safe.  better safe than sorry.

Hope helped me with this, and they have done a ton of them with no problems. By all means, cover your ace if you feel uneasy.

You pay for the item first, because you need a serial number to include on the paperwork, and they can't afford to have it sit there waiting on your paperwork to get approved. Only buy from a dealer with the item in stock, as back orders without a serial number will only delay the eventual possession of your NFA item.
The sheep don't like this sheepdog until the wolves start working the flock.

Offline Toster

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NFA trusts
« Reply #8 on: October 01, 2009, 12:50:29 PM »
Can any one scan one in with thier info blotted out?

Offline David Hineline

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NFA trusts
« Reply #9 on: October 03, 2009, 10:13:03 PM »
I would recommend any customer see a lawyer.  Some info.  http://www.guntrustlawyer.com/

Your trust or corporation would need to be in effect and remain in effect as long as the NFA item was to be owned by the trust.  If you at a later date want to own the item as an individual it will transfer from the trust/corporation to you on tax paid form 4.

Machinegun owners blow thier load with one pull of the trigger

Offline David Hineline

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« Reply #10 on: October 03, 2009, 10:15:33 PM »
One can also get an individual transfer at any second temp. residence that they have using the CLEO in that jurisdiction.
Machinegun owners blow thier load with one pull of the trigger

Offline Toster

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NFA trusts
« Reply #11 on: October 06, 2009, 11:57:25 AM »
So doing a little more research on this topic I found a great link.

http://arizonagunlist.com/How_to_buy_NFA_class3_weapons_with_a_revocable_living_trust_without_a_CLEO_signoff.html

It has lots of info on this topic.

Offline Toster

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NFA trusts
« Reply #12 on: October 07, 2009, 11:09:25 AM »
Well, just found out THE HARD way, that you can't do a trust in Quicken Willmaker 2010!

here is their email back:


Hi Chad,

Thanks for contacting us and sorry for the inconvenience.

Please note, our Quicken Willmaker Plus 2010 software does not include a living trust document. The 2009 version is the last edition which supported a living trust. This was a decision made in anticipation of an exclusive living-trust making software that should be released sometime in early 2010.

If you intended to create a living trust with our 2010 Willmaker program, please feel free to contact our customer service department at 1-800-728-3555, or by e-mail at cs@nolo.com, concerning a refund.

Thank you.

Justin
Nolo Technical Support
950 Parker St, Berkeley, CA 94710
510.549.4660 (Monday - Friday, 9am-5pm PST)
Nolotec@Nolo.com
Nolo - Your Legal Companion
Check out our website at http://www.nolo.com for more in depth information.
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We publish legal information designed to help people safely cope with their own legal needs, and we go to great lengths to make sure that information is accurate and useful. We don't provide legal advice -- the application of law to a specific situation. If you want a professional opinion about how information in a Nolo product applies to your particular situation, please consult a lawyer in your state.

Nolo.com features an online Lawyer Directory as a free resource to our customers.  Take a look at one the many comprehensive attorney profiles located at[  http://referral.nolo.com/nc.cfm?t=LdirAd00139147 ] lawyers.nolo.com


"Chad " <> writes:

Hello,

I recently purchased a copy of Quicken WillMaker Plus 2010.  I was wanting to set up a revocable living trust.  I do not find this as an option when I go under ?Estate Planning? when choosing a category from the drop-down list.  I also looked under the ?All Documents? and did not see it there either.  Was this feature removed or am I just looking in the wrong spot?  It was in the previous version a friend had, Quicken WillMaker 2007. 

 

Thanks!

 

Offline Toster

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NFA trusts
« Reply #13 on: October 07, 2009, 11:14:43 AM »
I did have another question for people that have done the trusts.  What happens if you move to a non friendly NFA state?  Can you have someone included in the trust say your parents that still live here in NE so you can keep the NFA item at "home" in NE?

Offline Wildgoose

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NFA trusts
« Reply #14 on: October 07, 2009, 05:13:23 PM »
I would recommend any customer see a lawyer.  Some info.  http://www.guntrustlawyer.com/

Your trust or corporation would need to be in effect and remain in effect as long as the NFA item was to be owned by the trust.  If you at a later date want to own the item as an individual it will transfer from the trust/corporation to you on tax paid form 4.




David,
After some reflection I feel your advice may be well founded. Is there anyone in eastern Nebrasksa that you could recomend for a review of a trust involving NFA firearms?
Thanks

Offline Gunscribe

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NFA trusts
« Reply #15 on: October 07, 2009, 05:16:27 PM »
It is interesting to note that the Gun Lawyer website posted by Dave states that Nebraska has no Right to keep and bear arms language in its Constitution:



STATES WITHOUT CONSTITUTIONAL PROVISIONS:

Eleven (11) states do not have a constitutional provision dealing withe the right to bear arms: California, Delaware, Iowa, Maryland, Minnesota, Nebraska, New Jersey, New York, North Dakota, and West Virginia.
Sidearms Training Academy
La Luz, NM

Offline Toster

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NFA trusts
« Reply #16 on: October 08, 2009, 11:30:12 PM »
I would agree, if someone could recommend a lawyer that is up on NFA, and not going to charge an arm and leg.


I would recommend any customer see a lawyer.  Some info.  http://www.guntrustlawyer.com/

Your trust or corporation would need to be in effect and remain in effect as long as the NFA item was to be owned by the trust.  If you at a later date want to own the item as an individual it will transfer from the trust/corporation to you on tax paid form 4.




David,
After some reflection I feel your advice may be well founded. Is there anyone in eastern Nebrasksa that you could recomend for a review of a trust involving NFA firearms?
Thanks

Offline Rob Androyna

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NFA trusts
« Reply #17 on: October 12, 2009, 11:39:30 PM »
This seems to be a very fitting first thread for me to chime in on.
Exeter Arms sets up 30-40 trusts a month. Our trusts have been vetted by my attorneys. The conjecture about them being illegal is highly erroneous. Over the past 5 years we have generated approximately 2000 NFA RLTs for our customers, all of which were approved by the ATF. I have several customers with over 30 NFA items on their schedule A (you know who you are :) ) Many of our customers have had their own attorneys review them and give them their seal of approval. I have also set up NFA trusts for licensed attorneys across the state. So whether you live in Lancaster County or Hamilton & can't get a signature or you know you are going to be buying a lot of NFA weapons and you just don't want the hassle of going through the whole 9 yards every time, or you want to set up a joint trust so multiple parties can legally be in possession of the NFA item the trust is a safe and LEGAL method to do this. I hope this helps those of you with questions.
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Offline Jesse T

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« Reply #18 on: October 13, 2009, 09:47:30 AM »
Thanks for the post Rob!
N0ZXR

Offline Toster

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NFA trusts
« Reply #19 on: October 14, 2009, 09:18:15 AM »
Rob, with my new PS90.....I see a trust in my near future!  Can you say SBR with a can!!!

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NFA trusts
« Reply #19 on: October 14, 2009, 09:18:15 AM »

 

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