A trust is not unlike a will. It has many uses, in this case it's used to buy NFA. I set mine up after my father died. Used inheritence money to buy a registered reciever H&K 51, YHM cobra .40 suppressor, H&K auto sear, SBR H&K MP-5K navy, KAC navy suppressor so far.
Thanks Baboon,I just thought that someone in this area would know who to talk to. I've heard of people using the computer based trust software,but I would rather pay a lawyer to make sure it is completely done right and legal. I'm wanting to get cans for 22,223,30 cal,and maybe for my 45's. I want to do the trust so that I can list family and friends that will be included to use them.
Yea, the link baboob posted was who I used. I don't recommen the software types as yes, it may get you far enough to purchase an NFA, but when it comes down to the nitty gritty details, I've heard they just weren't sufficient enough.
I used Quicken Willmaker Pro which was very easy and it was $50. The trust with a lawyer runs about $500-$600. I'm very confident that mine is correct and really the AFT cares more that your $200 check clears.
Just an FYI…… There will most likely be some changes to the Trust in 2009. I have also personally spoken to Mr. Howard at the N.F.A. about this. Mr. Howard is the Director of investigations (or something to this effect) at the N.F.A. I don’t know all the details…. And I’m not a lawyer or anything….. But Mr. Howard advised against the Trust.
It might be wise to purchase the NFA weapons thru a corporation. This is what I have done.
Anyways food for thought… I have an attorney dedicated to Corporations if you are interested.
Blackrifletexas i would like to know a little more details. if im not mistaken the use of trust is part of the NFA act . NFA in 27 CFR §479.11 specifically defines a Person (i.e. someone who is authorized to purchase NFA items) to include Trusts as well as Corporations. Therefore, absent a state law in your particular jurisdiction prohibiting same, you may purchase and own NFA items through a Revocable Trust.