How do you set up an Estate?????

Discussion in 'Class III / NFA' started by Papa Glock, Mar 18, 2008.

  1. Papa Glock

    Papa Glock New Member

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    Mar 18, 2008
    Mesquite
    I was told that the best way to get class III items was to set up and estate. it was less paper work.
    If this is true, how do you do that.
    Thanks
    :confused:
     


  2. David

    David Member

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    Feb 29, 2008
    North Texas
    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.
     
  3. Papa Glock

    Papa Glock New Member

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    Mar 18, 2008
    Mesquite
    thanks David
     
  4. SIG_Fiend

    SIG_Fiend Administrator TGT Supporter Admin

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    Feb 21, 2008
    Austin, TX
    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".
     
  5. Madhouse

    Madhouse Active Member

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    Mar 17, 2008
    Houston, TX
    This is how I intend to proceed with my NFA purchases.
     
  6. 300shooter

    300shooter Active Member

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    Mar 6, 2008
    Fargo,ND
    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
     
  7. ducksps

    ducksps Active Member

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    Mar 3, 2008
    Austin, Houston
    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
     
  8. Joat

    Joat Active Member

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    Apr 28, 2008
    Kenefick, TX
    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
     
  9. ducksps

    ducksps Active Member

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    Mar 3, 2008
    Austin, Houston
    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
     
  10. htxred

    htxred Active Member

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    Apr 6, 2008
    inner loop houston
    sean cody can help ya Chris.. i think his website is houstonattorney.org or net or something like that. sorry its been a while. lol
     

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