List of questions or amendments to make for NFA trust

[buddy17]

I know I'm new to the INGO forums, but I'm looking to get my NFA trust created soon. I'm sure something like this is out there, but I've yet to find a good summary. I imagine something like this being a sticky but not asking for that at this point.

Basically, I've started a list of things to ensure are written into my trust when created. Some things are just questions for a lawyer, other things are specifics I'd like to have written in. I don't have my list with me right now, but may edit the original post if this becomes useful. Im not wanting answers, just looking for general questions to ask a lawyer and ensure its built in. Some things I'm referring to:

-How amendments are to be made to the trust
-What items can be held in the trust, and how can the list be updated with future purchases.
-If someone becomes intelligible to use the items or be a beneficiary (such as a felony) how are they automatically removed from being eligible in the event I pass and the trust is not ammendeded to remove that person.
-Should a section be created for non-NFA items, even if it is not used or recommended at this time.
-Should a separate checking account be created in the name of the trust to purchase items

Again, this is just a start. Not looking for answers, I'd rather just create a list of things to consider whensetting up the trust rather than simply giving a lawyer my info and having them send me a canned trust they've used for everyone else.

Thanks.

 

[Bfish]

Contact Marc Halata

Home Page

 

[tatic05]

Contact Marc Halata

Home Page

+1

 

[17 squirrel]

It's time to spend money my friend. Find yourself a great Attorney that does Estates, Wills and Trusts and they will answer all your questions, without the internet BS.

 

[hmaverick]

Correct. I'm always here to answer questions. Just call. Theres a thread where some have posted my info.

Marc

 

[buddy17]

As I stated in my post, I am already planning to hire a lawyer for the trust. Marc Halata and Grant Liston both seem to be the most recommended and I plan to talk with both. My goal was to simply have others weigh in on specific things they've had written into the trusts because I know I won't think of everything to check once I contact the lawyer. I have a good list of questions to ask, just trying to get an opinion to add to my own list and thought a comprehensive post of everything to consider would be helpful.

 

[chef1231]

You need to just contact a NFA lawyer. Here is a link to my guy, he owns and shoots NFA items and is very good. He will be happy to get on the phone with you when you call his office and his trust turn around time should be about 3-4 days before its in your mailbox.

Grant A. Liston | Carson Boxberger LLP | Fort Wayne, Indiana

It might just be me but you might be overthinking this a bit. The trust itself is pretty straight forward, I just needed to decide who was going to be the beneficiary and who I wanted for trustees, where the items will be staying, thats about it.

-How amendments are to be made to the trust (CALL THE ATTORNEY AND ADD OR REMOVE PEOPLE)

-What items can be held in the trust, and how can the list be updated with future purchases.( THERE IS A PAGE FOR ADDING ITEMS AND DATES OF TRANSFER)

-If someone becomes intelligible to use the items or be a beneficiary (such as a felony) how are they automatically removed from being eligible in the event I pass and the trust is not ammendeded to remove that person. (MIGHT WANT TO THINK ABOUT WHO YOU ARE ADDING IF THIS IS A CONCERN)

-Should a section be created for non-NFA items, even if it is not used or recommended at this time.( I WOULD NOT WANT A LIST OF ALL MY GUNS AVAILABLE IF THERE WAS NOT A GOOD REASON FOR IT, NON NFA ITEMS DONT NEED TO GO ON THERE BUT TO EACH THEIR OWN)

-Should a separate checking account be created in the name of the trust to purchase items ( I SEE NO REASON TO MAKE A SEPARATE CHECKING ACCOUNT FOR THE $200 FEE, EITHER WAY YOU ARE OPENING THE ACCOUNT AND PUTTING YOUR MONEY IN THERE AND YOUR NAME WILL BE SOME PLACE ON THAT OPENING ACCOUNT PAPERWORK. IF YOU ARE OVER PARANOID THEN ITS OKAY TO DO. I SPOKE WITH GRANT AND HE SAID IT WAS NOT SOMETHING I NEEDED TO DO.)

 

[2tonic]

It is easiest to open a checking account in the trust's name for purposes of further NFA purchases. This establishes a firm " chain of custody ". It's not necessary, however. If you purchase an NFA item for the trust with personal funds you should note that you have " gifted " the trust with x$ for the purchase and include it with your trust paperwork for your personal file. It's a slightly sketchy area concerning personal property being " transferred " to the trust (triggers a call for another transfer and stamp). Also makes it easier when the purchase receipt is in the trust's name.

 

[buddy17]

It might just be me but you might be overthinking this a bit. The trust itself is pretty straight forward, I just needed to decide who was going to be the beneficiary and who I wanted for trustees, where the items will be staying, thats about it.

Although this was not intended to have everyone answer the original questions I posted, I do appreciate the answers from you all.

Chef, you may be right in that I'm overthinking it. To me, I think it's something that is okay to overthink. Purchasing NFA items with a trust is a hot topic (Google is proof), and NFA items in general are a relatively hot topic. There is a lot of confusion and talk about laws changing and what would happen in the event the laws change. I'm trying to protect myself and learn everything I can before having the trust created. I don't see anything wrong with that.

 

[tom1025]

I would recommend Marc Halata for your trust lawyer. He just did our trust a few weeks ago.

 

[hmaverick]

You need to just contact a NFA lawyer. Here is a link to my guy, he owns and shoots NFA items and is very good. He will be happy to get on the phone with you when you call his office and his trust turn around time should be about 3-4 days before its in your mailbox.

Grant A. Liston | Carson Boxberger LLP | Fort Wayne, Indiana

It might just be me but you might be overthinking this a bit. The trust itself is pretty straight forward, I just needed to decide who was going to be the beneficiary and who I wanted for trustees, where the items will be staying, thats about it.

-How amendments are to be made to the trust (CALL THE ATTORNEY AND ADD OR REMOVE PEOPLE)

-What items can be held in the trust, and how can the list be updated with future purchases.( THERE IS A PAGE FOR ADDING ITEMS AND DATES OF TRANSFER)

-If someone becomes intelligible to use the items or be a beneficiary (such as a felony) how are they automatically removed from being eligible in the event I pass and the trust is not ammendeded to remove that person. (MIGHT WANT TO THINK ABOUT WHO YOU ARE ADDING IF THIS IS A CONCERN)

-Should a section be created for non-NFA items, even if it is not used or recommended at this time.( I WOULD NOT WANT A LIST OF ALL MY GUNS AVAILABLE IF THERE WAS NOT A GOOD REASON FOR IT, NON NFA ITEMS DONT NEED TO GO ON THERE BUT TO EACH THEIR OWN)

-Should a separate checking account be created in the name of the trust to purchase items ( I SEE NO REASON TO MAKE A SEPARATE CHECKING ACCOUNT FOR THE $200 FEE, EITHER WAY YOU ARE OPENING THE ACCOUNT AND PUTTING YOUR MONEY IN THERE AND YOUR NAME WILL BE SOME PLACE ON THAT OPENING ACCOUNT PAPERWORK. IF YOU ARE OVER PARANOID THEN ITS OKAY TO DO. I SPOKE WITH GRANT AND HE SAID IT WAS NOT SOMETHING I NEEDED TO DO.)

all great questions. I'll answer them all when you call. Day or night. 7 days a week. And I'm the most affordable in Indiana.

 

[STFU]

+1 on Marc Halata.
Very friendly, very knowledgeable, answered all my noob questions, responded quickly, reasonably priced, and my Trusts (Title 1 and Title 2) were completed in less than 24 hours!