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Armory Sponsor
3/22/2010 11:09:54 AM EDT
Not being totally familiar with Trusts, I'm wondering how many have a trust for personal stuff and a seperate for NFA?  Is it even legal to have 2 trusts?  
3/22/2010 11:13:48 AM EDT
[#1]
Have as many trusts as you want.  Just keep track of which owns what.
3/22/2010 1:45:05 PM EDT
[#2]
You could have one for each NFA firearm if you wanted, but as mentioned, you need to be able to keep them straight etc. I can see where a bunch of different trusts could get confusing or easily mixed up, which could result in a huge messed up ordeal if the wrong circumstances are present.
3/22/2010 3:17:34 PM EDT
[#3]
I was just considering (not too hard) about using my current trust for NFA only stuff, then another trust for non-firearms related stuff.  Thanks for the clarification.
3/22/2010 6:17:48 PM EDT
[#4]
There is no reason to put non-NFA stuff in a trust.  Just use a will.  But you could if you wanted.  I start a new trust for each separate NFA item.  I name them things like "Smith Family Trust",  "Smith Family Trust 2", 'Smith Family Trust 3"
3/23/2010 7:11:37 PM EDT
[#5]
Quoted:
There is no reason to put non-NFA stuff in a trust.  Just use a will.  But you could if you wanted.  I start a new trust for each separate NFA item.  I name them things like "Smith Family Trust",  "Smith Family Trust 2", 'Smith Family Trust 3"


What is your reasoning for doing this?
3/24/2010 3:48:25 AM EDT
[#6]
He wants to get his money's worth out of Quicken Willmaker.
3/24/2010 10:55:33 AM EDT
[#7]
Quoted:
Quoted:
There is no reason to put non-NFA stuff in a trust.  Just use a will.  But you could if you wanted.  I start a new trust for each separate NFA item.  I name them things like "Smith Family Trust",  "Smith Family Trust 2", 'Smith Family Trust 3"


What is your reasoning for doing this?


Ditto to the above......
3/24/2010 7:25:42 PM EDT
[#8]
You can have different trustees for different items.
3/25/2010 5:00:06 AM EDT
[#9]
Quoted:
You can have different trustees for different items.


Yes, but why?
3/25/2010 12:40:40 PM EDT
[#10]
Quoted:
There is no reason to put non-NFA stuff in a trust.  Just use a will.  But you could if you wanted.  I start a new trust for each separate NFA item.  I name them things like "Smith Family Trust",  "Smith Family Trust 2", 'Smith Family Trust 3"


There are plenty of things to put in trust, from heirlooms to vacation property to firearms; also anything you don't want going through the courts for dispensation.
Armory Sponsor