What are the advantages of an NFA trust?

[Clay]

Ive had quotes on 'full blown' trusts as well. Still not that expensive, but a little more expensive than quotes I've had on NFA trusts, probably less language, but more specialized.

IMO, a trust is a trust is a trust. Its whats contained in the trust that matters. NFA trusts are just firearms specific with specific language to that effect.

 

[LouisvillePatriot]

Each state may have different rules and regulations regarding trusts. It would be a bad deal to do a trust from the internet or Quicken for $25, or from a lawyer not licensed in your state, only to find out later that it doesn't comply with the requirements of a trust in your state. Then, if it wasn't a valid trust would that make everyone in the trust an unlawful possessor and transferor of an NFA firearm? That might get bad.

Also, here in KY a trust should be filed with the County Clerk's office after being executed. I wonder if Quicken tells people to do that?

I know prices for lawyers vary greatly so keep calling around till you find someone who knows what they're talking about and has a decent price. Just because a lawyer deals with wills and trusts doesn't mean he knows anything about silencers, machineguns, and SBRs. In fact, I'd say most don't know anything about them and that's why they quote $2,000. They are probably thinking about all the reading and research they are going to have to do to figure out what all those things are and that's why they quote so much.

Just my $0.02.

 

[2tonic]

David Goldman is NFA Gun Trust Lawyer Blog :: Published by Florida Gun Trust Lawyer David Goldman
He is a lawyer down in Florida who has done extensive research on NFA trusts. His site is a great starting place to learn about trusts and their advantages. He acts as a broker for lawyers all over the country, hooking you up with one in your own state who is familiar with the peculiarities of trust law in that state. Dave does the heavy lifting, the local lawyer cuts the paperwork, they split the fee (about $600) and you get an ironclad trust. Pre-filled forms for adding trustees, or your children as they come of age, can be included in the package. This way you just date, sign, and notarize the form and send a copy to the lawyer when it's time. No additional fees, time, or correspondence are necessary.
I used Dave for my trust and am very pleased with the results. I know my NFA firearms will be legally distributed without causing any burden to my survivors, and it cut my BATFE approval times by at least 1/3.

FWIW: The lawyer Dave hooked me up with is Tim Kalamaros from Mishawaka.
You can contact him directly at (574) 257-4802. I don't know if this would save you any money, or if he would direct you to Dave, but it can't hurt to try.