NFOA MEMBERS FORUM
General Categories => The NFA Corner => Topic started by: m0par on February 15, 2012, 12:22:19 AM
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Has anyone in the Kearney/Central NE area used a local lawyer to set up their NFA trust?
Recommendations?
I'd rather not use whoever it was that ended Rob's providing information on setting up a Trust.
Might even be a good idea for a sticky to list any/all NE lawyers who've done NFA Trusts (assuming there's enough interest, which is a big assumption).
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you can pick any lawyer and set up a trust. from what i remember, there's nothing different. just make sure you name it short like Last Name Trust.... aka "m0par Trust".
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Yep, already have a name for it. At least I hope so, as the lower (the first item going into the trust) is already engraved and at the anodizer's. I loved the "In God We" Trust that I've read of elsewhere. Unfortunately, I'm not smart enough to come up with anything that good.
I realize that any lawyer can, but whether or not any lawyer should is debatable.
I casually asked one that came into my workplace a while back, and he asked what I wanted to do with the Trust. He looked down at his feet, thinking, then says "I suppose we could set one up for that."
Not confidence inspiring. I'd rather have one say "Sure, no problem."; ergo my original question.
Finally, with my luck, I'd end up picking the shyster that whined to the bar about the information Exeter used to provide.
So, still looking for recommendations if anyone has one.
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The wife and I had Trust's done up at a firm in Omaha. It's a standard, run of the mill Revocable Living Trust. There was no mention by me of NFA anything to the lawyer. There is no mention in the Trust of anything NFA. I used it when I bought my suppressor.
I think there is a lot of misconception about Trust's. You don't need some kind of specific Trust's to buy NFA items.
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The wife and I had Trust's done up at a firm in Omaha. It's a standard, run of the mill Revocable Living Trust. There was no mention by me of NFA anything to the lawyer. There is no mention in the Trust of anything NFA. I used it when I bought my suppressor.
I think there is a lot of misconception about Trust's. You don't need some kind of specific Trust's to buy NFA items.
You don't even need a valid trust to have NFA items transferred--the ATF is not in the business of providing legal advice on creating trusts. The ATF just looks to see that you have submitted everything they require--as long as your trust appears to be valid on its face, they aren't likely to dig deeper. If your trust is later found to be invalid you could be in possession of an unregistered NFA item. Not good.
Plus, the default terms of a revocable trust mean that your using the firearm is possibly a breach of the fiduciary duty that you owe to the beneficiaries (See http://en.wikipedia.org/wiki/Waste_(law) (http://en.wikipedia.org/wiki/Waste_(law))). That is why you want a trust instrument by which the trustee is specifically empowered to use the trust property before the beneficiaries take under the terms of the trust. Furthermore, a run-of-the-mill revocable trust may direct the trustee to dispose of the NFA items in a manner that is not consistent with relevant federal law. This may not be an issue if you are trustee, but what if you die and your successor trustee doesn't know anything about the National Firearms Act?
The question is whether you want to (a) get your hands on the NFA item in the quickest, cheapest way possible, or (b) follow a process that gives you peace of mind in knowing that you aren't going to lose your expensive firearms or face fines and prison time. You can cut all sorts of corners and choose (a). Good luck--I hope you are never found out by the federal thugs. I am too risk averse to follow that route.
(Disclaimer: I am an attorney and I have worked on a couple of trusts specifically designed for the purpose of registering NFA firearms.)
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Citizen Clark
How much does it cost.
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Late to this thread, but non the less, I met with a very nice and knowledgeable attorney to do my personal trust (non NFA) and Will the other day. In conversation she was asking about my personal assets, and I mentioned I had "some firearms". She asked for a value, and kind of left it at that. Later in the meeting, SHE asked if I had a NFA trust for those firearms. I was very shocked that a lawyer here in Nebraska would ask that question, let alone ask if I had one set up!
We visited quite a little about NFA trusts, and she is pretty familiar with them. I sent her a copy of my NFA trust (Exeter Arms NFA template) to review. She said that she is getting more and more familiar with the NFA trusts, and has done quiet a few in Nebraska and Colorado.
For anyone wanting her contact info it is:
Julie M Karavas
8540 Executive Woods Dr.
Ste 507
Lincoln, NE 68512
402-423-9455 (office)
402-430-8802 (cell)
I am willing to bet that for those of you in the west part of the state, she would be willing to meet some where out there as she travels back and forth from Colorado quite often.
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Dick Clark, one of our board members (CitizenClark) is probably the preeminent NFA trust attorney in the state. Virtually all of the work can be done by e-mail or mail.
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I would recommend that anyone that has a Trust from Exeter Arms should have it reviewed by someone familiar with NFA trusts, such as Mr. Clark.
I have not heard one good thing about the Trusts that Exeter set up.
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I had my taxes done at Exeter the last 3 years. Should I be concerned Farmer Rick? ;)
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I had my taxes done at Exeter the last 3 years. Should I be concerned Farmer Rick? ;)
Well, at least they did SOMEONE'S taxes... ;D