NFA Trust question

Posted: 4/29/2015 8:18:29 PM EDT

I just got my gun trust a couple of days ago and one of the trustees is also the beneficiary. Does anyone know if this is an issue? I am getting two different answers. And I just bought my first 2 supressors today and need to send in my forms. Any help would be great.

Posted: 4/29/2015 8:29:45 PM EDT

[#1]

Who did your trust? Ask them? Maybe your state is different but here it does not matter.

Posted: 4/29/2015 8:45:05 PM EDT

[#2]

It was done by NFA lawyers. Mr. Phillips said it was okay but then my dealer said that I may have issues. The only thing I can find under my states laws is that one person cannot be the sole trustee and beneficiary.

Posted: 4/29/2015 8:46:42 PM EDT

[#3]

Im not a lawyer, but based on everything Ive read, that is completely fine.
Im about to do my trust, my wife will be, co trustee, successor trustee and beneficiary.

Posted: 4/29/2015 8:51:39 PM EDT

[#4]

I honestly think it will be fine. Just wanted to get a few opinions before I sent it off. And I have it set up as my father and fiancé as my trustee's and my fiancé as my beneficiary. I will prob amend it later. To name my newborn daughter as my beneficiary and keep all else the same.

Posted: 4/29/2015 9:55:18 PM EDT

[#5]

Quote History

Quoted:
I honestly think it will be fine. Just wanted to get a few opinions before I sent it off. And I have it set up as my father and fiancé as my trustee's and my fiancé as my beneficiary. I will prob amend it later. To name my newborn daughter as my beneficiary and keep all else the same.

View Quote

Im in the exact same boat. My son will be born later this summer, and Ill amend my trust later on to add him as a beneficiary too.
(I just asked this question in the laws forum).

Good luck man!

Posted: 4/29/2015 10:13:51 PM EDT

[#6]

I have high hopes of a Annie Oakley wanna be. Lol. She just turned two weeks old. She's my first and it's definitely been a great experience. Best of luck with your son!!! Sorry to go off topic. I'm just proud.

Posted: 4/29/2015 11:24:19 PM EDT

[#7]

Totally okay and very common for trustee to also be beneficiary.

What cannot happen is the Grantor be the beneficiary. This creates a paradox and would make the trust invalid until corrected.

Posted: 4/30/2015 10:07:42 AM EDT

[#8]

Quote History

Quoted:

Im in the exact same boat. My son will be born later this summer, and Ill amend my trust later on to add him as a beneficiary too.
(I just asked this question in the laws forum).

Good luck man!

View Quote View All Quotes

View All Quotes

Quote History

Quoted:

Quoted:
I honestly think it will be fine. Just wanted to get a few opinions before I sent it off. And I have it set up as my father and fiancé as my trustee's and my fiancé as my beneficiary. I will prob amend it later. To name my newborn daughter as my beneficiary and keep all else the same.

Im in the exact same boat. My son will be born later this summer, and Ill amend my trust later on to add him as a beneficiary too.
(I just asked this question in the laws forum).

Good luck man!

Same here. My son is my beneficiary but have another boy on the way. Maybe wait till he's older to see if he's into boom booms (as my son calls them) first before I amend.

Posted: 5/1/2015 10:50:45 AM EDT

[#9]

I have a friend listed on my trust as a trustee and a beneficiary and it was not a issue. Got my approved form 1 in 46 days and he also signed as a witness on the trust.

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