Armory Sponsor
Posted: 1/16/2013 11:50:29 AM EDT
| If i need to edit the trust (add/change trustee) can i do that in pen or do i need a new document drafted |
|
Depends on how your trust is worded. Does it prohibit you from making changes? Are you as Grantor allowed to make changes? Does it require you to make changes in a certain way? Some trusts may require a complete restatement when you make major changes like adding a Trustee. These are generally state requirements on how your trust should be formed. Check for things like this within the wording.
I just made a couple of changes on my trust, and I had a lawyer type up and notarize a one page document which I attached as an addendum on my existing trust. |
| from what i was told ATF doesn't keep a copy of the trust. im not sure, but if you change anything they wouldn't know the difference. they dont go back to see what you put on the first, second or whatever trust when we send them in. as long as the item is listed on the trust if the important part. |
| Just be cautious, on my last Form 1 I had it kicked back because the name of my trust as written on the Form 1 was "XXXX Family Living Trust". They wanted "The XXXX Family Living Trust, Dated 1 October 2009". So even if they don't retain any copies of the trust, changing the trust in its entireity may not fly. |
|
Quoted:
Just be cautious, on my last Form 1 I had it kicked back because the name of my trust as written on the Form 1 was "XXXX Family Living Trust". They wanted "The XXXX Family Living Trust, Dated 1 October 2009". So even if they don't retain any copies of the trust, changing the trust in its entireity may not fly. When was that? My most recent stamp came through Dec 5th and was just XXXXXX Trust |
|
Quoted:
Quoted:
Just be cautious, on my last Form 1 I had it kicked back because the name of my trust as written on the Form 1 was "XXXX Family Living Trust". They wanted "The XXXX Family Living Trust, Dated 1 October 2009". So even if they don't retain any copies of the trust, changing the trust in its entireity may not fly. When was that? My most recent stamp came through Dec 5th and was just XXXXXX Trust I believe it depends how the Trust is named in the trust itself. My trust is legally named bwideman Trust, so that is what I list, and have had no problem including approvals within the last month. If your trust is named one thing, and you shorten it, that will probably cause problems for you. IANAL, which is why I used one for my trust. |
| My stamp was approved 3 Jan after being kicked back with the aforementioned issue. What is strange is that I have 6 stamps previously approved with the verbiage I originally put. Even if my particular situation isn't applicable to you guys, just realize that there seems to be increasing scrutiny on the use of trusts for NFA items. |
|
Quoted:
Quoted:
Quoted:
Just be cautious, on my last Form 1 I had it kicked back because the name of my trust as written on the Form 1 was "XXXX Family Living Trust". They wanted "The XXXX Family Living Trust, Dated 1 October 2009". So even if they don't retain any copies of the trust, changing the trust in its entireity may not fly. When was that? My most recent stamp came through Dec 5th and was just XXXXXX Trust I believe it depends how the Trust is named in the trust itself. My trust is legally named bwideman Trust, so that is what I list, and have had no problem including approvals within the last month. If your trust is named one thing, and you shorten it, that will probably cause problems for you. IANAL, which is why I used one for my trust. The issue isn't abbreviating that is a known issue, it's the dating on the Form 1 that you will notice is the difference in the post I referenced. |
|
Quoted:
My stamp was approved 3 Jan after being kicked back with the aforementioned issue. What is strange is that I have 6 stamps previously approved with the verbiage I originally put. Even if my particular situation isn't applicable to you guys, just realize that there seems to be increasing scrutiny on the use of trusts for NFA items. Are you supposed to engrave the trust date also then since it is part of the name now? The date on the Form 1 makes no sense (not that making sense is a prerequisite or even normal when dealing with the ATF) |
Armory Sponsor