Gun Trust guys....have questions?

[ARCHIVED THREAD] - Gun Trust guys....have questions?

Posted: 11/19/2014 11:52:20 PM EDT

Ok, so I am started to gain more and more interest in NFA items, and I think it might be something that I add to the collection once a year, so Im starting to think having a Trust set up might be worth it. I have lots of questions though...

How much does it cost to set this thing up? What all is involved? Who do you reccomend locally (I live in st charles)?

Have you ever had issues with trusts getting approval for NFA items?

I already own a registered NFA SBR, after setting up a trust, would I need to pay another $200 to have that transferred from personal to the Trust, or can I just request a transfer?

I have a silencer on the way, and I am trying to decide if I want to get a trust set up and register with that before sending my Form4 off?

Thanks guys, I look forward to the information!

Posted: 11/20/2014 12:16:31 AM EDT

[#1]

Quoted:
Ok, so I am started to gain more and more interest in NFA items, and I think it might be something that I add to the collection once a year, so Im starting to think having a Trust set up might be worth it. I have lots of questions though...

How much does it cost to set this thing up? What all is involved? Who do you reccomend locally (I live in st charles)?

Have you ever had issues with trusts getting approval for NFA items?

I already own a registered NFA SBR, after setting up a trust, would I need to pay another $200 to have that transferred from personal to the Trust, or can I just request a transfer?

I have a silencer on the way, and I am trying to decide if I want to get a trust set up and register with that before sending my Form4 off?

Thanks guys, I look forward to the information!

View Quote

I didn't use anyone local, I went through Do It Yourself Documents and it was painless. You get everything you need. http://www.doityourselfdocuments.com/Estateplanning/Trust/nfaTrust.aspx

I e-filed using the trust and had a form 1 approved in 32 days with zero issue.
Others here have used the same trust with no issue as well.

If you want to transfer your existing item to the trust, that will require another $200 tax.

There are currently several benefits for using a trust. No sign off, prints, picture, easy to deal with transfer on death, you can assign co trustees etc. Many will tell you the less expensive online option is too much of a gamble but hundreds have gone that route with no issue. Ymmv

Posted: 11/20/2014 10:39:44 AM EDT

[#2]

Quote History

Quoted:

I didn't use anyone local, I went through Do It Yourself Documents and it was painless. You get everything you need. http://www.doityourselfdocuments.com/Estateplanning/Trust/nfaTrust.aspx

I e-filed using the trust and had a form 1 approved in 32 days with zero issue.
Others here have used the same trust with no issue as well.

If you want to transfer your existing item to the trust, that will require another $200 tax.

There are currently several benefits for using a trust. No sign off, prints, picture, easy to deal with transfer on death, you can assign co trustees etc. Many will tell you the less expensive online option is too much of a gamble but hundreds have gone that route with no issue. Ymmv

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Quote History

Quoted:

Quoted:
Ok, so I am started to gain more and more interest in NFA items, and I think it might be something that I add to the collection once a year, so Im starting to think having a Trust set up might be worth it. I have lots of questions though...

How much does it cost to set this thing up? What all is involved? Who do you reccomend locally (I live in st charles)?

Have you ever had issues with trusts getting approval for NFA items?

I already own a registered NFA SBR, after setting up a trust, would I need to pay another $200 to have that transferred from personal to the Trust, or can I just request a transfer?

I have a silencer on the way, and I am trying to decide if I want to get a trust set up and register with that before sending my Form4 off?

Thanks guys, I look forward to the information!

I didn't use anyone local, I went through Do It Yourself Documents and it was painless. You get everything you need. http://www.doityourselfdocuments.com/Estateplanning/Trust/nfaTrust.aspx

I e-filed using the trust and had a form 1 approved in 32 days with zero issue.
Others here have used the same trust with no issue as well.

If you want to transfer your existing item to the trust, that will require another $200 tax.

There are currently several benefits for using a trust. No sign off, prints, picture, easy to deal with transfer on death, you can assign co trustees etc. Many will tell you the less expensive online option is too much of a gamble but hundreds have gone that route with no issue. Ymmv

Also went with Do it yourself Documents.com, spent $43. I didnt need anything special. Just a simple trust with me and a few friends/wife on it. I have 5 items on it now.

I would do the trust. Makes things simpler, and if you have friends/family you want to be able to use your stuff without you being there, you are set.

Posted: 11/20/2014 1:10:01 PM EDT

[#3]

i am not a lawyer so I wanted someone that was do it and went through guntrustlawyers.com. for the mo trust, my was done by a guy in springfield. one thing that GTL will do that the documents site won't is that if something changes in the future and you need to change your trust then they are suppose to tell you about it and help you with it (fee might be involved depending on change).

another advantage of a trust is the ability to add trustees to the trust. without this, this means that you are the only person that can have possession of the NFA items. There is a president saying that if your GF/wife/brother/etc is in your house, knows the combo to your safe, and you are not there they can be in "possession" of the NFA item. now how often this has been used I am not sure but I doubt very much.

Posted: 11/20/2014 2:07:31 PM EDT

[#4]

Quoted:
Ok, so I am started to gain more and more interest in NFA items, and I think it might be something that I add to the collection once a year, so Im starting to think having a Trust set up might be worth it. I have lots of questions though...

How much does it cost to set this thing up? What all is involved? Who do you reccomend locally (I live in st charles)?

Have you ever had issues with trusts getting approval for NFA items?

I already own a registered NFA SBR, after setting up a trust, would I need to pay another $200 to have that transferred from personal to the Trust, or can I just request a transfer?

I have a silencer on the way, and I am trying to decide if I want to get a trust set up and register with that before sending my Form4 off?

Thanks guys, I look forward to the information!

View Quote

I had Shawn Estep make my trust. He's out of Fenton. LINK. Charged me $125 for the basic one. That's really all you need.

I efiled two SBRs through my trust and got one back in 22 days and the other in 33. Much faster than the paper route.

As for transferring your existing SBR to your trust, I am not sure. That is a good question though

Posted: 11/20/2014 6:54:30 PM EDT

[#5]

I worry about doing it myself or online, I want to make sure that I have the ability to add people to the trust (kids as I have them...etc...) and remove someone, God forbid I would ever need to.

I also want to make sure its done right, so I dont catch any snags with getting approved. I would love to find someone local and experienced to give me the piece of mind of having it set up correctly the way that I would like.

Keep the suggestions coming, thanks for the feed back!

Posted: 11/20/2014 8:01:32 PM EDT

[#6]

Quote History

Quoted:
I worry about doing it myself or online, I want to make sure that I have the ability to add people to the trust (kids as I have them...etc...) and remove someone, God forbid I would ever need to.

I also want to make sure its done right, so I don't catch any snags with getting approved. I would love to find someone local and experienced to give me the piece of mind of having it set up correctly the way that I would like.

Keep the suggestions coming, thanks for the feed back!

View Quote

What is your AO, that might help in finding someone local to you.

Posted: 11/20/2014 9:04:17 PM EDT

[#7]

Sorry for my ignorance, but

When does someone need to a trust and when not?

Is it only needed if I own a full auto? That seems like what everyone writes about.

What is/are the purpose[s] of a gun trust?

I am sorry if I'm highjacking the thread. If so I'll start another one.

Just thought it might be generally Germaine to the discussion.

Thanks,

Posted: 11/20/2014 9:15:09 PM EDT

[#8]

I found this webpage enlightening when deciding on using an attorney or a DIY trust like the one offered by Silencershop...

http://ncsilencer.blogspot.com/2011/09/truth-about-nfa-trusts.html

Posted: 11/20/2014 9:23:31 PM EDT

[#9]

Quote History

Quoted:

What is your AO, that might help in finding someone local to you.

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AO?

I'm in St. Charles County though.

Posted: 11/20/2014 10:22:42 PM EDT

[#10]

Quote History

Quoted:

Sorry for my ignorance, but

When does someone need to a trust and when not?

Is it only needed if I own a full auto? That seems like what everyone writes about.

What is/are the purpose[s] of a gun trust?

I am sorry if I'm highjacking the thread. If so I'll start another one.

Just thought it might be generally Germaine to the discussion.

Thanks,

View Quote

For me SBRs first, then a few Cans... Doubt I'll ever have the cash for a Full auto...

After month and months of reading and talking to many folks I went the trust route with Guntrustlaywer.com

took about 20+ mins, then the next day he emailed it too me...

I wanted a trust for two reasons... I wanted to put the Wife on there and a few of my closest shooting buds in-case something happened to me, they would inherit them or liquidate them for the wife... At the last minute I deciced not to add the now EX-Wife... Dodged a bullet on that one... Also, I wanted to avoid waiting for LEO signoff and Fingerprints, just to own something, I should not be prevented to own in the 1st place... Sounds like that could be changing in the future... Which if it does, I may just start doing individual...

Posted: 11/25/2014 9:57:22 PM EDT

[#11]

I live in St. Charles County, and am still looking for reccomendations on local lawyers to help me set this up.

Posted: 11/25/2014 11:17:03 PM EDT

[#12]

Email or call Shawn. He'll take care of everything for you.

Posted: 11/26/2014 10:39:34 AM EDT

[#13]

Im actually emailing him now, he seems to think the one that I need is the $250 one....

Posted: 11/26/2014 6:25:39 PM EDT

[#14]

Bummer, he wants 595 +250 to meet in person to set up the trust. I was pretty much only interested in using a local lawyer in order to have a face to face conversation. Otherwise I'll be looking into the DIY job, if he's just going to email me something anyways.

IDK, maybe I'm over thinking this, but because of how sensitive the documents are, I wanted to make sure that I understood everything completely, which I currently do not...