Trusts

[croy]

See that's the problem - it's not "advice" - it's the Indiana code as its written and there are too many people on here spewing "facts" and legal "advice" that are not correct. You want to notarize your trust docs - go for it - but don't tell people on this forum that you have to do so in order for your trust to be legit and enforceable in court.

John Spurr did mine also. No place for a notary on mine as well.

 

[hoosierdoc]

Once you get the documents is there any signing or motorizing that needs to be done?.

Not the document, but when your NFA item is transferred to you it's customary to motorboat someone.

i had mine notorized for free, why would you not do so?

 

[liston1972]

I rarely chime in here. However, to clear-up any confusion, having a trust notarized is not required pursuant to Indiana law. However, it creates a presumption that the trust was in fact signed by the grantor. Moreover, a notary is verifying the signature pursuant to their authority. Also, the notary is most likely a disinterested party. When the trust is administered, the grantor will be dead and not be able to testify as to the authenticity of the signature. This makes it much more difficult for someone to contest the actual signing of the trust. If anyone has any questions, please feel free to email me at liston@carsonboxberger.com I hope all is well.

 

[MontereyC6]

I rarely chime in here. However, to clear-up any confusion, having a trust notarized is not required pursuant to Indiana law. However, it creates a presumption that the trust was in fact signed by the grantor. Moreover, a notary is verifying the signature pursuant to their authority. Also, the notary is most likely a disinterested party. When the trust is administered, the grantor will be dead and not be able to testify as to the authenticity of the signature. This makes it much more difficult for someone to contest the actual signing of the trust. If anyone has any questions, please feel free to email me at liston@carsonboxberger.com I hope all is well.

Thanks for stopping by and giving your advise! I'm sure I speak for quite a few when saying we'd love to have to you around!

 

[Jeremy1066]

I rarely chime in here. However, to clear-up any confusion, having a trust notarized is not required pursuant to Indiana law. However, it creates a presumption that the trust was in fact signed by the grantor. Moreover, a notary is verifying the signature pursuant to their authority. Also, the notary is most likely a disinterested party. When the trust is administered, the grantor will be dead and not be able to testify as to the authenticity of the signature. This makes it much more difficult for someone to contest the actual signing of the trust. If anyone has any questions, please feel free to email me at liston@carsonboxberger.com I hope all is well.

Welcome to INGO Mr. Liston! We hope that you can find time to visit more often.

 

[Dead Duck]

I rarely chime in here. However, to clear-up any confusion, having a trust notarized is not required pursuant to Indiana law. However, it creates a presumption that the trust was in fact signed by the grantor. Moreover, a notary is verifying the signature pursuant to their authority. Also, the notary is most likely a disinterested party. When the trust is administered, the grantor will be dead and not be able to testify as to the authenticity of the signature. This makes it much more difficult for someone to contest the actual signing of the trust. If anyone has any questions, please feel free to email me at liston@carsonboxberger.com I hope all is well.

Yep -

And here we have another one running to the classifieds...

 

[output]

Great info. Thanks everyone, I needed this information as well.

 

[cmr13]

With a trust do you still have to get the $200(???) tax stamp for NFA items?

 

[Rookie]

Yup.

 

[cmr13]

Yup.

Ok, thanks.

 

[Ruffnek]

Sounds like something worth looking into for the upcoming tax check.

 

[remauto1187]

I was just in Top Guns (gunshop) in Terre Haute yesterday and they have someone that the shop uses for customers, etc. to do NFA Trusts for $130 ! Im going to look more in to it and probably get one through their guy.

 

[Hop]

I got mine on sale through Gearhog for $69. 199trust

 

[Brian Ski]

Question about using a trust. If you personally purchase, say a $10,000 machinegun, and put it in your trust, then need money later can you sell it??? Or does the money have to stay in the trust?? I guess I am thinking more along a 401k (I know completely different) you can put money in it, but if you withdraw it there are restrictions and tax implications. I was thinking a trust puts a lock on its property. If your were to put cash in a trust you can't just take it out like a bank account, correct???

I guess here I have no problems with a signoff so I have never needed to try a trust or corp.

Thanks for any answers...

 

[output]

Just because it is placed in the trust does not mean it cannot be sold. When your place money or property in a trust the same can be done. Hope that helps. Your best bet is to contact a lawyer and throw all your questions at him/her.

 

[Hkindiana]

I think it would be safer to go through a lawyer vs a gun shop

 

[Brian Ski]

Just because it is placed in the trust does not mean it cannot be sold. When your place money or property in a trust the same can be done. Hope that helps. Your best bet is to contact a lawyer and throw all your questions at him/her.

Just a curious question. I know it could be sold but does the money have to stay in the trust??? I know you can add money to a trust, but is it a big problem to remove money from it???

 

[1911ly]

Not an issue. It's your trust & your property. Dispose of accordingly. Just make sure your sales follow the rules. You must handle sales the same way you bought it. Threw the appropriate FFL.

 

[Overwatch]

Trust ftw

Does an LLC enjoy all those same benefits? I would think it would?

 

[ryang]

I don't mean to hijack the thread but figured this could be best asked in here, with a trust how much does the wait for the stamp decrease generally. Also what is the process of adding a person to the trust?