Posted: 9/9/2015 9:55:19 PM EDT
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I've searched and haven't found a strait answer.
I want to set up a trust for NFA stuff and was going to go the quick and easy truss route. The only thing I'm worried about is that my wife has access to the safe and I probably need to list her as a trustee. Seems like doing that bumps the trust into the 'silver' category on the NW law groups services, which is considerably more. I've also been reading up in the class three section and a few other places around the interwebs. It really doesn't seem that complicated to just do it myself. I managed to set up an LLC for my business when I started it. This doesn't seem that much different. So what have you guys done? Am I overthinking the part about my wife having access? |
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The silver gives you "other trustee" benefits, and a lot more. And you have local legal counsel, for the future should you need it. For the price of a shitty ar you can have your legal stuff done right the first time. I sleep a lot easier knowing it's done right. |
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I did my own, myself back in 2011, before SilencerCo and SilencerShop started offering them with their products.
I have two friends, who each have a SilencerCo and SilencerShop trust. Both processes are similar, can list additional trustees and are fairly straight-forward. Do you have kids now/planning to in the future? Do you have a big firearm collection, real estate, complicated finances? If all you're looking for is an NFA trust for you, but want to list your wife because she can get into the safe, then I think a SilencerCo/SilencerShop trust would work fine. If you want to use the trust for more than just NFA items, you should probably seek out a legal professional. |
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And what if, heaven forbid, you end up"that guy" with something bullshit that pops up from an overzealous deputy or any other nightmare scenario we read about in gd? I've got my trust lawyers card in my wallet, and in my range bag right with my stamps. Either way works, but the older I get the more risk averse I've become. |
| For me personally, my current situation is fairly straight-forward. When that situation changes, my trust may change as well. As I said, if all you want is a trust for ease in acquiring NFA items, I see no issues with pre-packaged options. If you want a face-to-face for a more tailored trust, then a NFA-savvy lawyer is the way to go. |
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I get what you are saying CavVet, but I've set up and managed an LLC with multiple partners and assets for over 10 years now. I set all that up myself and it's been working fine, even with challenges from L&I.
After our first year of business I went to an accountant. He charged me around $500 and after looking the forms over and learning how everything worked I felt ripped off. Ever since then I've done my own taxes (it takes about half an hour). The silver trust seems way overkill for what I want. It's just going to be for NFA items. My wife and I don't have kids. The only thing I'm concerned about is her access to the safe (she doesn't care about shooting). If she is only listed as a successor trustee would that be ok? My dad is judge executive in my hometown, in Kentucky. I'm going to have him look it over but I don't know what differences there are between states. |
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I have to recommend my guy, Dean. He is a good guy, is always willing to answer NFA questions, posts on a lot of forums.. and his trusts are inexpensive and they work. Check him out. $99 NFA Trust
He'll have the trust in your inbox in about 24 hours. |
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Quoted:
I have to recommend my guy, Dean. He is a good guy, is always willing to answer NFA questions, posts on a lot of forums.. and his trusts are inexpensive and they work. Check him out. $99 NFA Trust He'll have the trust in your inbox in about 24 hours. I sent a message to your guy a couple of days ago on the contact off his site. Haven't heard back yet. 
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Thanks for the info in this thread so far guys.
I was looking into the silver trust with NWGunlawgroup. I am a complete newb on this stuff, but I'm assuming there will need to be signatures involved. I am in Eastern WA. Can this be handled electronically in anyway, or will I need to travel to Woodinville to make this happen? Thanks guys. |
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NWGunlawgroup will have you fill out an intake form. From there they will complete the trust for you. They can then send it to you electronically for review (they did for me), and then once everything is okay they can mail you the binder for the trust (they did for me), and then you take the trust to a notary and you are done.
I set up my Silver trust and never set foot in their office. Your physical location, other than residing in Washington, shouldn't matter. |
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What about filing the trust with the county/state?
I saw a post awhile back, somewhere in the Class 3 section of this site, can't remember exactly where, that said that WA state law requires you to file your trust with the county clerks office or something like that. Does anyone know anything about this? I don't recall it ever being mentioned before. ETA: found the post I mentioned HERE Fourth reply by scottr who also happens to be the OP of this thread. |
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I haven't found anything specifically that says it must be filed to be valid in WA.
I think it's not a bad idea as a form of insurance though. You don't have to worry about the trust getting lost or modified. Of all the trusts I looked at on the pierce co recorders website none of them had a schedule A You won't be revealing what's in the trust by recording it. |
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You only need to engrave your info on things you build on a form 1. Your trust name is only on the forms if you buy stuff.
You probably already knew that, just wanted to make sure I wasn't confusing anyone. There can be a lot of information to wade through when you first start in stamp collecting. |
Nope, I didn't know that either 
My plan for my first go at it is a pre-built, out of state, off the shelf SBR (9mm AR). I would prefer to assemble myself, but based on what I've been reading, that is a bit tricky for now until WA gets things straightened out. I think the route I'm looking at is a form 4? So my trust name wouldn't be engraved in that? Am I also correct in assuming that my first course of action is to get my trust set up? Then locate a dealer capable and willing to handle the transfer and form 4 stuff, then purchase the rifle and swap dealer info like normal... Then wait for approval. Am I anywhere close on the process? 
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Quoted:
Nope, I didn't know that either
My plan for my first go at it is a pre-built, out of state, off the shelf SBR (9mm AR). I would prefer to assemble myself, but based on what I've been reading, that is a bit tricky for now until WA gets things straightened out. I think the route I'm looking at is a form 4? So my trust name wouldn't be engraved in that? Am I also correct in assuming that my first course of action is to get my trust set up? Then locate a dealer capable and willing to handle the transfer and form 4 stuff, then purchase the rifle and swap dealer info like normal... Then wait for approval. Am I anywhere close on the process? Yes, your looking at the Form 4 route since the ATF has been rejecting Form 1's. Since it's already built by another company, you do not have to engrave it since your not the manufacturer. If a Form 1 you are manufacturing it so you do need to engrave it.. but it's a moot point for SBR. Ever bought a NFA item? Sound like that's a no. it's simple. You buy from a out of state dealer, you have them send the NFA item to your local FFL dealer who has a SOT (takes about a month). Then you work on a Form 4 with your local dealer. You fill out paperwork (duplex, double sided print). atf-f-5320-4 (NFA Application for Tax Paid Transfer) and atf-f-5330-20 (Certification of Compliance). You send the forms in along with your notarized living trust. Wait 6-9 months and voila.. you can pick up your NFA item from your dealer. |