NFA Trust Lawyers

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  • ekg98

    Plinker
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    0   0   0
    Jun 25, 2008
    93
    6
    I went and seen Jon Spurr today. He was very professional and very informative and clear about a trust. I would recommend him to anyone.
     

    hoosierdoc

    Freed prisoner
    Rating - 100%
    8   0   0
    Apr 27, 2011
    25,987
    149
    Galt's Gulch
    So when you die, who takes over the trust? Is that specified as well? And the concept is that any person named in the trust can possess the trust-owned NFA items, correct?
     

    OneBadV8

    Stay Picky my Friends
    Site Supporter
    Rating - 100%
    52   0   0
    Aug 7, 2008
    55,911
    101
    Ft Wayne
    So when you die, who takes over the trust? Is that specified as well? And the concept is that any person named in the trust can possess the trust-owned NFA items, correct?

    Yes, the person that takes over is named in the trust. Anyone in the trust can be in possession of the items. You can also specify if anyone else is allowed to add and remove items from the trust if you want more than just you to have that ability.
     
    Rating - 100%
    17   0   0
    Feb 16, 2010
    1,506
    38
    Youll be super pumped when you start filling the trust up.

    I can't wait! Got to figure out if I can get some checks printed from my checking account, only have a debit card now. Or I guess I could just get Money Orders but then I don't know when they are cashed, does that even really matter?
     

    downzero

    Master
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    0   0   0
    Jun 16, 2010
    2,965
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    So when you die, who takes over the trust? Is that specified as well? And the concept is that any person named in the trust can possess the trust-owned NFA items, correct?

    A trust doesn't die and has a separate existence from you.

    In that sense, your question is somewhat misleading. A trust will specify what happens when the parties pass. The trust itself can have (nearly) infinite life.
     

    downzero

    Master
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    0   0   0
    Jun 16, 2010
    2,965
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    I am really surprised that more lawyers in Indiana don't want to do NFA trusts. I do see emails on the bar association listserv occasionally.

    I wrote my own trust from a sample, and while there are probably some things to look out for, from what I understand, no particular form is necessary to create a trust, and there are only a few requirements. There is a common "form" that it seems everyone follows, but even that is not necessary.

    Perhaps the reason lawyers don't want to do it is that their client could end up in jail if it was improperly drafted, whereas for most trusts, the loss would be limited to money.

    I do notice that scare mongering lawyers on the internet talk about how people don't know what they're doing when drafting NFA trusts, try to convince you that courts will declare yours invalid, etc., but the vast majority of trusts never see the inside of a courtroom and so that just seems disingenuous to me. A trust is a document that is supposed to be inherently personal and avoid court as much as possible.

    Keep in mind that I'm not a lawyer, I have never written or participated in writing any trust that wasn't my own, and the law is admittedly complicated in ways that would encourage me to seek professional advice if I feared making a serious mistake.
     
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    17   0   0
    Feb 16, 2010
    1,506
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    I do notice that scare mongering lawyers on the internet talk about how people don't know what they're doing when drafting NFA trusts, try to convince you that courts will declare yours invalid, etc., but the vast majority of trusts never see the inside of a courtroom and so that just seems disingenuous to me. A trust is a document that is supposed to be inherently personal and avoid court as much as possible.

    Keep in mind that I'm not a lawyer, I have never written or participated in writing any trust that wasn't my own, and the law is admittedly complicated in ways that would encourage me to seek professional advice if I feared making a serious mistake.

    I did hours and hours of research and the main people on MANY different boards and sites stating to get a lawyer to draft your trust are 2 or 3 of the biggest trust providing lawyers. They routinely got called out on providing any proof that people got arrested or even anything confiscated from having a bad trust. They never provided ANYTHING.

    From my talk with a lawyer friend he said that if you have a trust and for some reason it is invalid, you just have to re-write it to be valid and the changes are retroactive to the creation date. But also said if you were to be in this kind of predicament you DEFINITELY need a lawyer at that time to ensure compliance. So if you draft your own, get called out on it, then just hire a lawyer and have them fix it...

    That being said I used Grant Liston and he currently only charges $275 but he said his price will probably be going up.
     

    HamsterStyle

    Master
    Rating - 100%
    33   0   0
    Jul 27, 2010
    2,387
    48
    Carthage
    So, if I decide to go the trust route, what do I need to have handy when I call the lawyer? Just the names of the people that are going to be on the trust? Do I need to have an nfa item Ready to transfer when I set it up?
     
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