Recommendations on setting up a Trust

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  • Maverick30

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    Feb 13, 2019
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    Hey guys, I'm looking for recommendations on how to go about setting up a trust. I'm teetering on the thought of finally buying a couple suppressors with tax return money and figured that a trust would be the best way to go about doing it. I know SilencerShop offers easy to setup trusts and so do other websites like nationalguntrusts.com but wasn't sure if paying the extra money and going through a lawyer is a better option. Any insight you guys can provide would be greatly appreciated!
     

    ACC

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    Mar 7, 2012
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    I chose to go the lawyer route and I am glad that I did. He made it easy to make changes to my trust and was helpful when the new ATF rules went into effect. Here is who I used.

    Grant Liston
    Carson Boxberger LLP
     

    MCgrease08

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    Mar 14, 2013
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    I almost started this same thread last night as I'm toying with the idea of putting together my first SBR.

    My question is more about registering NFA items as an individual or going the trust route. I already know if I do a trust it would be through an attorney and not a cookie cutter web form. There are too many estate planning issues involved to leave it up to a template.

    Here's a video I found that was helpful in making that part of the decision.

    [video=youtube_share;ghVK2VDwiLU]http://youtu.be/ghVK2VDwiLU[/video]
     

    chef1231

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    I highly recommend Grant Liston out of Fort Wayne. Super nice guy. He will do it all over the phone for you and is a huge NFA buff himself. I am sure there are cheaper ways to go but I am very happy with him and after Copper Customs saw my trust, they started recommending him as well.
     

    chef1231

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    I chose to go the lawyer route and I am glad that I did. He made it easy to make changes to my trust and was helpful when the new ATF rules went into effect. Here is who I used.

    Grant Liston
    Carson Boxberger LLP

    My bad.. I didn't see that someone already recommended him.
     

    Goodcat

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    I was talked out of a trust for my first (an only so far) suppressor. No real benefit versus filing as an individual.

    Estate planning. Your family or trustees can take it with them. You aren’t breaking laws if it’s sitting by your night stand while your wife is home alone, etc. Huge benefits.
     

    MCgrease08

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    The more I research the issue of individual vs trust, the more it's looking like there aren't many benefits in my particular case for going the trust route.

    I'm currently single. I have no family living in-state. My kids are too young to be in possession of firearms (ages 7 & 3). I don't have any good "shooting buddies" that I would want to add to the trust.

    Right now the benefits I see for going with a trust would be the ability to add my kids as trustees down the road (11 years from now at the earliest), or add a spouse in the future. (Working on finalizing a divorce and don't plan on getting remarried anytime soon). It would also be nice to add NFA firearms to a trust down the road w/o repaying the $200 should my life change significantly enough to warrant creating a trust.

    I'm going to give Guy Relford a call and talk through some of these issues, but has anyone else started their NFA journey as an individual and regretted not going the trust route right off the bat?

    It seems like the 41F ruling really negates many of the main advantages that a trust used to offer. At this point the main benefit of trusts is allowing others to be in possession, but in my case, that's not much of an issue.
     

    Goodcat

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    The more I research the issue of individual vs trust, the more it's looking like there aren't many benefits in my particular case for going the trust route.

    I'm currently single. I have no family living in-state. My kids are too young to be in possession of firearms (ages 7 & 3). I don't have any good "shooting buddies" that I would want to add to the trust.

    Right now the benefits I see for going with a trust would be the ability to add my kids as trustees down the road (11 years from now at the earliest), or add a spouse in the future. (Working on finalizing a divorce and don't plan on getting remarried anytime soon). It would also be nice to add NFA firearms to a trust down the road w/o repaying the $200 should my life change significantly enough to warrant creating a trust.

    I'm going to give Guy Relford a call and talk through some of these issues, but has anyone else started their NFA journey as an individual and regretted not going the trust route right off the bat?

    It seems like the 41F ruling really negates many of the main advantages that a trust used to offer. At this point the main benefit of trusts is allowing others to be in possession, but in my case, that's not much of an issue.

    Yes. I was 23, recently married and no kids when I got my first can. I went individual. I then got another and an SBR. I’m now 33 with a 5 YO and 4 YO twins with 2 more suppressors on the way and went with a trust this time while estate planning. Life moves fast. I’ll now be forking over $600 to transfer those first three items into our trust.
     

    STFU

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    Sep 30, 2015
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    What's your reasoning for you having two?

    Not sure what Rookie's reason is, but I have two also: 1) NON-NFA items, 2) NFA items
    I also used Marc Halata. Super fast, very reasonable pricing, very responsive, and just a nice guy to deal with as well!

    One more thing: I have yet another trust for large assets like the house, cars etc. If something happens to me (I travel a lot), my wife and kids are all set with no probate or other BS to deal with.
     

    Maverick30

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    Feb 13, 2019
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    Columbus area
    I used Grant Liston for my first trust. I used Marc Halata for my second trust at almost half the cost.

    I've been in contact with Marc, I plan on using him for my trust. I plan on going that route since my girlfriend, future spouse, lives with me so if she needs to use one in the house when I'm not around she can.
     

    MCgrease08

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    Not sure what Rookie's reason is, but I have two also: 1) NON-NFA items, 2) NFA items
    I also used Marc Halata. Super fast, very reasonable pricing, very responsive, and just a nice guy to deal with as well!

    One more thing: I have yet another trust for large assets like the house, cars etc. If something happens to me (I travel a lot), my wife and kids are all set with no probate or other BS to deal with.

    My first trust has nine people on it and three are out of state. Rather than collect finger prints and pictures, it was easier to start a new trust.

    Thanks for the input guys. Looks like I'll be giving Marc a call.
     

    ljk

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    May 21, 2013
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    I was talked out of a trust for my first (an only so far) suppressor. No real benefit versus filing as an individual.

    If your family is relocating to California for like few years, do you still keep a residency in Indiana?

    If your children wanted to borrow your suppressed SBR for hunting?

    Here is a real story:
    Friend of mine had a basement fire. His guns were ok, protected by the safe on the second floor. But the fire department removed the electric meter and kicked them out of the house.

    It took the insurance company and contractors 4 months before they could move back into their own house. They lived in a rental(without a gun safe) during that time.

    All their guns were spread out to few friends' safes for keep and the Class 3 items are not a problem, he just added a trustee, all legal.
     

    Hornett

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    15   0   0
    Sep 7, 2009
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    Bedford, Indiana
    If you have a dealer nearby with a Silencer Shop kiosk, then I recommend the Silencer Shop NFA Trust at $129.95.
    Fingerprints, pictures, everything, can be done locally.
    It was confusing at first, but the people at Silencer Shop have been great to deal with and very patient with my Noob questions.
    Oh, and my local dealer was right there when I was doing the fingerprints and pictures.
    Now I can just wander in with whoever I want to add to the trust and get them fingerprinted and added.
     
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