How do you set up an Estate?????
- Thread starter Papa Glock
- Start date
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I believe you're referring to the trust route.
Im sure someone here who has done it will have more knowledge than I, but you create a revocable living trust and purchase the items through the trust instead as an individual. There's just as much paperwork; you just dont need the CLEO signature, fingerprints, and photos.
How to create the trust, Ive heard of people doing it suceesfully with Quicken Willmaker. Persoanlly, unless you're well versed in the area. Id find an attorney to write one up.
Im sure someone here who has done it will have more knowledge than I, but you create a revocable living trust and purchase the items through the trust instead as an individual. There's just as much paperwork; you just dont need the CLEO signature, fingerprints, and photos.
How to create the trust, Ive heard of people doing it suceesfully with Quicken Willmaker. Persoanlly, unless you're well versed in the area. Id find an attorney to write one up.
I did a little bit of research into this awhile back as I eventually want to own some class III stuff. I found various websites online that allow you to set one up on your own for much cheaper like $200-100 or less. From talking to a few people that have revocable living trusts (none of them were using it for the same purpose), it sounded like it would generally cost somewhere around $400-600 to have a lawyer set one up. Honestly, I think it would be a better idea to go with a lawyer on this one, so that you know for sure all your i's are dotted and T's crossed. You don't want to screw up anything with class III stuff because, judging by what I've seen and read online, the ATF tends to be very unforgiving even if something is an honest mistake.
The reason the trust route works and has worked is because in legal jargon a trust is considered an "individual".
The reason the trust route works and has worked is because in legal jargon a trust is considered an "individual".
When I re did my Will, I had the lawyer do a Trust and had the paperwork switched to it . and it only added a small amount to the bill to have it done. it also made it easier for my girls to sell or keep if they wanted to my Class 3 items.
So I would say do a Trust and not worry about it
So I would say do a Trust and not worry about it
We have seen folks use willmaker
All my NFA stuff is corporate but I believe future items will be revocable trust. I have seen customers purchase their cans with the trust route using Quicken or online sources and have no problems.
If in doubt see a lawyer,
Chris
All my NFA stuff is corporate but I believe future items will be revocable trust. I have seen customers purchase their cans with the trust route using Quicken or online sources and have no problems.
If in doubt see a lawyer,
Chris
There is a lawyer here in Houston, Mitsy Barajas, that sets up Texas trusts. I have been considering giving the office a call, but have just been too lazy to do so.
http://www.nfa-trusts.com/
Joat
http://www.nfa-trusts.com/
Joat
Left a message for Mitsy Yesterday
I left a message on the web form yesterday for Mitsy regarding setting up a trust. The phone number was a message and I will leave something there if i hear nothing today.I purchased a new can but want to set things up in trust instead of corporation for a change.
I'll keep ya'll posted.
Chris
I left a message on the web form yesterday for Mitsy regarding setting up a trust. The phone number was a message and I will leave something there if i hear nothing today.I purchased a new can but want to set things up in trust instead of corporation for a change.
I'll keep ya'll posted.
Chris
Sean Cody is a good guy
I know Sean and need to talk to him about toys anyway. Forgot he has a job and doesn't make once fired brass dusk till dawn. He'll get a ring tomorrow.
I recieved an e-mail from Mitsy this evening but have not yet made contact. Since I know Sean I'll call him first.
I know Sean and need to talk to him about toys anyway. Forgot he has a job and doesn't make once fired brass dusk till dawn. He'll get a ring tomorrow.
I recieved an e-mail from Mitsy this evening but have not yet made contact. Since I know Sean I'll call him first.
Quicken Willmaker for Gun Trust
Although quicken can be used to create a valid trust to purchase class 3 items there are many problems with the typical revocable trust and firearms. A NFA Gun Trust should deal with the firearms unique liabilities and risks. One of these is the concept of constructive possession. This may be your wife knowing the combination to your gun safe. This could land you both in jail for 10 years and subject you to 250,000 in penalties. A trust can be a very simple or complex document depending on how it is drafted. A Gun trust should deal with the many unique issues related to class 3 ownership, possession, and transfer.
Although quicken can be used to create a valid trust to purchase class 3 items there are many problems with the typical revocable trust and firearms. A NFA Gun Trust should deal with the firearms unique liabilities and risks. One of these is the concept of constructive possession. This may be your wife knowing the combination to your gun safe. This could land you both in jail for 10 years and subject you to 250,000 in penalties. A trust can be a very simple or complex document depending on how it is drafted. A Gun trust should deal with the many unique issues related to class 3 ownership, possession, and transfer.
