The truth about trusts???

Discussion in 'GATE NFA/Class III' started by COLOSHOOTR, Sep 25, 2011.


  1. COLOSHOOTR

    COLOSHOOTR
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    Joined:
    Sep 29, 2005
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    Location:
    Colorado
    I've decided to make the jump and get a can with my OT money from the last few weeks. I can get CLEO sign off in my county since he's tended to be pretty pro gun but I figured it would be better go go the trust route so my family can possess any NFA stuff I end up getting. I've been reading about NFA trusts for the last few hours and am more confused now then I was before I sat down to research them.

    1) I read the Gun Trust Lawyer stuff and found a post from him that said a solid trust could run you $600. Yet, many people have spent little to nothing creating a Revokable living trust online or with software like Quicken Will Maker and have been approved by the BATF without issues. Is it really worth $600 for an attorney to do it or does the cheaper option actually work just as well.

    2) I'd like to have a total of 3 other people (Wife, Father, Brother) allowed to have access/possess the can in case I am leaving or they use my rifle for the day. I have heard that can be done on a trust but I've only seen stuff for single parties online so far. Does that mean I'm going to have to spend the $$$ for a attorney to set it up then just have to wait for some more OT to afford the can or can I set it up myself and still have the extra cash to spend on the can?


    3) If I will have to get professional help is there anyone you know who deals with this stuff and won't totally deflate my wallet.

    Thanks in advance for any help.
     
  2. Zak Smith

    Zak Smith
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    3Gunner
    Millennium Member

    Joined:
    Aug 25, 1999
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    Location:
    Fort Collins, CO, USA
    re, #1. If anything is wrong with the trust documents, then you may be subject to loss of the NFA items and/or criminal charges. Some people would rather pay money upfront to ensure that doesn't happen. Many people would rather take the chance. There has been at least one guy who had a major legal problem stemming from the way his trust was set up. My take is that it is probably a good idea to pay the lawyer to do it right if you will have anything other than a one-person trust.

    #2. See #1 and lawyer.

    #3. Get a referral from guntrustlawyer.com
     


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