NFA TRUST FAQ's

[Raitekk]

How much do you charge for trusts? I will be getting one soon. Also how much do future changes cost?

 

[hmaverick]

I shouldn't be giving any price quotes or anything here. There's a thread about me below I believe. Or you can contact me off site or PM.

Marc Halata

 

[mettle]

I paid $245. Marc only charges an additional $55 to make up a separate (second)trust for general firearms and other firearm valuables.
I plan to have another trust made for my firearms. I want this done so my wife wouldn't be inundated with questions and have to deal with all the stuff by herself; but also, so that another trustee (should I die or be unable to deal) could also weigh in on decisions and help her sell or keep... and my kids would have a chance to own the items eventually as well.

 

[bigo334]

So I'm new to nfa, and plan on building a sbr very soon. With a trust I would be able to have my wife, father, and brother can be on the trust? Also they would be able to have the firearm in their possession with out me? And is that all included in the basic price or is it extra to add people? I only ask because we are planning on us all splitting the cost of the trust.

 

[bcskypilot]

Out of my element so I appreciate the thread.
*My wife & I have 3 children all under the age of 18. I assume they would be listed as beneficiaries. The rest of our family all live out of State. How difficult would it be to add family or friends living in Ohio or Michigan as trustees should something happen to my wife & I?
*Are Ohio & Michigan NFA friendly states?
*Does an NFA Trust require any type filing, fees our tax once it is created assuming there are no future updates to the trust?
*Do the NFA Trusts you prepare come with a Certificate of Trust?

 

[Tactically Fat]

So I'm new to nfa, and plan on building a sbr very soon. With a trust I would be able to have my wife, father, and brother can be on the trust? Also they would be able to have the firearm in their possession with out me? And is that all included in the basic price or is it extra to add people? I only ask because we are planning on us all splitting the cost of the trust.

From my limited understanding, yes.

Trustees on the trust can be in possession as it is the trust that has ownership of the items. Provided, of course, the trustees are proper people to possess NFA items (of age, proper persons, etc etc)

 

[Markus]

I shouldn't be giving any price quotes or anything here. There's a thread about me below I believe. Or you can contact me off site or PM.

Marc Halata

Marc - I am wanting to set up an NFA trust. Frankly, I tried to contact another Lawyer who was mentioned in another thread but have never heard back from him. Sounds like you are the person who most on here trust. Something you seem to have earned and I appreciate that. I do not have enough posts to PM so if you could email me at marknewbie325 at that yahoo site, I will gladly provide my contact information or contact you for further discussion. Thank you.

 

[hmaverick]

So I'm new to nfa, and plan on building a sbr very soon. With a trust I would be able to have my wife, father, and brother can be on the trust? Also they would be able to have the firearm in their possession with out me? And is that all included in the basic price or is it extra to add people? I only ask because we are planning on us all splitting the cost of the trust.

bigo,

we should talk about splitting a trust, lots of potential issues when multiple people are purchasing items and one person is in control of all of the items.

There would be no extra charge to add as many trustees as you need to, no matter location or relation to you.

 

[hmaverick]

Out of my element so I appreciate the thread.
*My wife & I have 3 children all under the age of 18. I assume they would be listed as beneficiaries. The rest of our family all live out of State. How difficult would it be to add family or friends living in Ohio or Michigan as trustees should something happen to my wife & I?
*Are Ohio & Michigan NFA friendly states?
*Does an NFA Trust require any type filing, fees our tax once it is created assuming there are no future updates to the trust?
*Do the NFA Trusts you prepare come with a Certificate of Trust?

bcskypilot

1. The kids could be beneficiaries. eventually it could be amended to add them as trustees. Other family, including out of state can be added easily.
2. They are friendly states.
3. there are no filings or fees needed to create the trust.
4. My trust includes a certification of grantor. not familiar with that phrase, but I can assure you its not needed. The trust is created in the "declaration of trust"

 

[tsm]

What are the witnessing requirements for creation of an NFA trust in Indiana? For example: one or two witnesses? Does one of the witnesses have to be a Notary, or is a Notary required in addition to the witness(es)? Thanks.

 

[RA8]

I just came to say thank you. i don't have a specific question yet. it's nice to see what others' concerns are, with credible answers.

 

[chef1231]

I was talking with my Class 3 guy that about trusts and he is under the impression that the ATF has already committed to changing the way it handles trusts in December. 41P has been kicked around for sometime ( as I understand ) but my guy seems to think this is already a done deal and you will no longer be able to avoid the sign off by law enforcement and all the other items, including who ever is on the trust to be vetted as well, the whole 9 yards. Did a quick google just now and found a couple things but for those who might want to look. Just googel ATF 41P

Davis & Udoka PLLC. Attorneys at Law | 41P Update - No ATF Rule Change Until at Least December 2015

 

[hmaverick]

This has been floating around for several years. In my opinion it's spiraling down the toilet. You're welcome to all those I have helped!

 

[hmaverick]

What are the witnessing requirements for creation of an NFA trust in Indiana? For example: one or two witnesses? Does one of the witnesses have to be a Notary, or is a Notary required in addition to the witness(es)? Thanks.

A you simply need a notary and signature.

 

[tsm]

Thank you. Glad I was able to ask my question before the final flush!

 

[Johnk]

If I fill out an application for an SBR tax stamp and my CLEO signs off on it so I'm able to purchase a tax stamp for an SBR rifle but don't use a trust, what happens to the weapon when I die? Or is it even possible to get a tax stamp without a trust?

 

[Kirk Freeman]

I was talking with my Class 3 guy that about trusts and he is under the impression that the ATF has already committed to changing the way it handles trusts in December.

ATFE was most insistent in implementing 41P when I attended the CLE in Nashville in April. Yes, they are committed, however it remains to be seen if the modifications will be implemented.

I'd love to trade them off. But, that is politics.

 

[mk2ja]

I'm tagging this thread so I can continue to monitor it as I look into this! Thanks for all the input so far!

 

[iufan2010]

So I have a few questions for you. I've done a few items so far individually, but I just got into the trust game. First: I typically take a copy of my stamp with me, but do you suggest bringing any trust documentation as well? It's a lot of paperwork so if so, what would you suggest to bring along?

Second: I have the documents here and it has a spot for both a notary's signature and two witnesses. Do I need to bring 2 witness's with me when I go to the notary? I've read mixed things but want to get it clarified.

Thanks in advance!

 

[Bapak2ja]

Just want to ensure I understand the comments from maverick and Kirk Freeman.

Based on comments above, ATF may soon change its rules negating the benefits of having a gun trust. Did I understand that correctly?

If this is the case, it seems wise to delay forming the trust until we are sure the changes will not take place. Correct?