Go Back   Maryland Shooters > The Arsenal > NFA/Class 3/Title II

Reply
 
Thread Tools Display Modes
Old February 6th, 2009, 08:19 AM   #1
Maryland_Shooter
Banned
 
Join Date: Feb 2008
Location: Glen Arm
Posts: 888
Sample NFA Trust

[Your Name]/Address of Trust





[Your Name]Revocable Living Trust
)
)
)
)
)
)
)
)
)
)
)
)
)
)
Declaration of Trust

Your Name, grantor, declares that he has transferred and delivered to the trust all his interest in the property described in Schedule A attached to this Declaration of Trust and included by reference.

All property is hereby the "trust property." The trustee, [Your Name], hereby acknowledges receipt of the trust property and agrees to hold said property in accordance with this Declaration of Trust.

The grantor may add property to the trust by adding said property to Schedule A, attached, and included by reference, thereby any additions become property of the [Your Name] Revocable Living Trust.

This Declaration of Trust may from time to time and as the need arises, be amended only by the grantor, [Your Name].

I Amendment and Revocation
A. Amendment or Revocation by Grantor

The grantor may amend or revoke this trust at any time, without notifying any beneficiary. An amendment must be made in writing, signed and notarized by the grantor.


B. No Amendment or Revocation by Other Person

The power to revoke or amend this trust is personal to the grantor, [Your Name]. No conservator, guardian or other person(s) shall exercise it on behalf of the grantor, unless grantor expressly grants power to revoke or amend this trust in writing or by Power of Attorney specifically naming the trust.

C. Payments From Trust During Grantor's Lifetime

The trustee shall, at his sole discretion, pay to or use for the benefit of the grantor and or beneficiaries, as much of any net income and principal of the trust property as he deems reasonable.

II Trustees
[Your Name] shall be the Trustee.

A. Trustee's Responsibilities
[Your Name] (hereinafter “trustee”) shall serve as trustee and has sole and absolute discretion, pursuant to the laws of the State of Maryland and the United States of America.

B. Terminology
The term "trustee" includes successor trustees or alternate successor trustees serving as trustee of this trust. The singular "trustee" also includes the plural where applicable.

C. Successor Trustee
Each successor trustee has full, independent and absolute discretion in acting for and representing the trust.

Upon the death or incapacity of [Your Name], the trustee shall be my wife [Spouse Name].

If [Spouse Name] is unable or unwilling to serve as successor trustee, my children [Child’s Name] and [Child’s Name] shall serve as co-trustees.

In the event [Child’s Name] or [Child’s Name], are not 21 years of age, [Custodian/Alternate Trustee] shall serve as trustee.
In the event of death or incapacity of both [Your Name] and [Spouse Name], my daughter, [Child’s Name], shall become the sole trustee upon reaching the age of twenty-one (21).

Upon reaching the age of twenty-one (21) [Child’s Name], both [Child’s Name] and [Child’s Name] shall serve as co-trustees.

D. Resignation of Trustee
Any trustee in office may resign at any time by signing a notice of resignation, which shall be effective when delivered to the person whom is named as a successor trustee or appointed by the trustee under § II C.

E. Power to Appoint Successor Trustee
If no one named in this Declaration of Trust as a successor trustee or alternate successor trustee is willing or able to serve as trustee, the last acting trustee may appoint a successor trustee. The appointment must be made in writing, signed by the trustee and notarized.

F. Bond
No bond shall be required for any trustee named in this Declaration of Trust.
G. Compensation
No trustee shall receive any compensation for serving as trustee.

H. Liability of Trustee
With respect to the exercise or non-exercise of discretionary powers granted by this Declaration of Trust, the trustee shall not be liable for actions taken in good faith. Such actions shall be binding on all persons interested in the trust property.

III Trustee's Management Powers and Duties
A. Powers Under State Law
The trustee shall have all authority and powers allowed or conferred on a trustee under Maryland law, subject to the trustee's fiduciary duty to the grantors and the beneficiaries.
B. Specified Powers

The trustee's powers are discretionary. They include, but are not limited to:

1. The power to sell trust property, to borrow money and to encumber trust property, including trust real estate, by mortgage, deed of trust or other method.

2. The power to manage trust real estate as if the trustee were the absolute owner of it, including the power to lease (even if the lease term may extend beyond the period of any trust) or grant options to lease the property, to make repairs or alterations and to insure against loss.

3. The power to sell or grant options for the sale or exchange of any trust property, including stocks, bonds, debentures and any other form of security or security account, at public or private sale for cash or on credit.

4. The power to invest trust property in every kind of property and every kind of investment, including but not limited to bonds, debentures, notes, mortgages, stock options, futures and stocks, but expressly excludes buying on margin.

5. The power to receive additional property from any source and add it to any trust created by this Declaration of Trust.

6. The power to employ and pay reasonable fees to accountants, lawyers or investment experts for information or advice relating to the trust.

7. The power to deposit and hold trust funds in both interest-bearing and non-interest bearing accounts.

8. The power to deposit funds in bank or other accounts, insured by the FDIC.

9. The power to enter into electronic fund transfers or safe deposit arrangements with financial institutions.

10. The power to institute or defend legal actions concerning this trust or the grantor's affairs.

11. The power to execute any documents necessary to administer any trust created by this Declaration of Trust.

12. The power to diversify investments, including authority to decide that some or all of the trust property need not produce income.
C. Incapacity of Grantor

1. If the grantor becomes physically or mentally incapacitated, whether or not a court has declared the grantor incompetent or in need of a conservator or guardian, the successor trustee named in § II C shall be trustee.

D. Method of Determination

1. The determination of the grantor's physical capacity to manage this trust shall be made by no less than two (2) licensed physicians if a successor trustee requests their opinion.

2. The determination of the grantor's psychological capacity this trust shall be made by no less than two (2) licensed psychiatrists if a successor trustee requests their opinion.

3. In that event, the trustee shall manage the trust property and shall use any amount of trust income or trust property necessary for the grantor's proper health care, support, maintenance, comfort and welfare, in accordance with the grantor's accustomed manner of living.

4. Any income not spent for the benefit of the grantor shall be accumulated and added to the trust property. Income shall be paid to the grantor at least annually.

5. Income accruing in or paid to trust accounts shall be deemed to have been paid to the grantor.
6. The successor trustee shall manage the trust until the grantor is again able to manage his affairs. The determination of the grantor's capacity to again manage this trust shall be made in the manner specified just above.

E. Death of a Grantor
1. When the grantor dies, this trust shall become irrevocable. It may not be amended or altered except as provided for by this Declaration of Trust. It may be terminated only by the distributions authorized by this Declaration of Trust.

F. Beneficiaries
1. Upon death of the grantor, the trustee shall distribute the trust property as follows:

2. All interest shall pass to [Spouse Name].

3. In the event that [Spouse Name] is incapacitated or deceased, [Child’s Name] and [Child’s Name], shall divide all trust property per stirpes.

4. All distributions are subject to any provision in this Declaration of Trust that creates a child's subtrust or a custodianship under the Uniform Transfers to Minors Act.

5. A beneficiary must survive the grantor for 7 days to receive property under this Declaration of Trust. All personal and real property left through this trust shall pass subject to any encumbrances or liens placed on the property as security for the repayment of a loan or debt.

IV. Custodianships Under the Uniform Transfers to Minors Act
Any property to which any minor beneficiary is entitled, shall be held by a custodian under the Maryland Uniform Transfers to Minors Act.

The custodial chain shall be the same as the chain of Trustees in § II C
(Successor Trustee).

V. Grantor's Right to Homestead Tax Exemption
If the grantor's principal residence is held in trust, the grantor has the right to possess and occupy it for life, rent-free and without charge except for taxes, insurance, maintenance and related costs and expenses. This right is intended to give the grantor a beneficial interest in the property and to ensure that the grantor does not lose eligibility for a state homestead tax exemption for which he otherwise qualifies.

VI. Severability of Clauses
If any provision of this Declaration of Trust is ruled unenforceable, the remaining provisions shall have their full force and effect.

Certification of Grantor
I certify that I have read this Declaration of Trust and that it correctly states the terms and conditions under which the trust property is to be held, managed and disposed of by the trustee, and I approve the Declaration of Trust.

_____________________________________Dated: ______________
Your name, Grantor and Trustee



CERTIFICATE OF ACKNOWLEDGMENT OF NOTARY PUBLIC

(State of Maryland)
County of Baltimore)
On ___________________________, _______________________ before me, _____________________, a notary public in and for said state, personally appeared [Your Name], proved on the basis of satisfactory evidence (drivers License and Social Security Administration Identification) to be the person whose name is subscribed to the within instrument, and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

WITNESS my hand and official seal.

Notary Public for the State of Maryland







My commission expires:


____/___/______





[Your Name] Revocable Living Trust

SCHEDULE A

Assignment of Property

I, [Your Name], as Grantor of the [Your Name] Revocable Living Trust, dated ____/____/______, hereby assign and transfer all of my rights, title and interest in the following property:

1. NFA Item Description (TAC 65 Silencer/Suppressor) & Serial # XXXX



To [Your Name], as trustee of the Name [Your Name] Revocable Living Trust

dated ____/____/2009,

Executed at ____|____|____, on ____/____/2009.



___________________________________________
[Your Name], Grantor and Trustee






Copies in MS Word available - email me.
Maryland_Shooter is offline   Reply With Quote
Old February 6th, 2009, 08:25 AM   #2
Boondock Saint
Returnedish Member
 
Boondock Saint's Avatar
 
Join Date: Dec 2008
Location: White Marsh
Posts: 13,155
"We were just outside of Barstow when the drugs began to kick in..."

A completely irrelevant response, but I love your avatar. The document looks solid to me, though. Thanks for posting this.
Boondock Saint is offline   Reply With Quote
Old February 6th, 2009, 09:08 AM   #3
FIREHAWK
SPEAK ENGLISH
 
FIREHAWK's Avatar
 
Join Date: Oct 2008
Location: TOWSON
Posts: 4,799
Images: 13
good post

this is bat country


__________________
FIREHAWK is offline   Reply With Quote
Old February 6th, 2009, 05:18 PM   #4
JeepDriver
Self confessed gun snob
 
Join Date: Aug 2006
Location: White Marsh
Posts: 5,169
Looks good.

I got your email, sorry I haven't responded yet.

You'll need the Decleration & Certification of Trust as well as the Schedule of Property. Make copies of all of it and send in the copies. ATF will not return the Trust documents to you with the approved Form 4.

I'll be at hte range tomorrow if you want to stop by and I'll get it all sorted out for you and ready to got to the ATF.


__________________
Quote:
Originally Posted by h2u View Post
Plus, she's a shooter....and this used to be a gun board-but that's a topic for another day.
JeepDriver is offline   Reply With Quote
Old February 6th, 2009, 06:42 PM   #5
Maryland_Shooter
Banned
 
Join Date: Feb 2008
Location: Glen Arm
Posts: 888
Quote:
Originally Posted by JeepDriver View Post
Looks good.

I got your email, sorry I haven't responded yet.

You'll need the Decleration & Certification of Trust as well as the Schedule of Property. Make copies of all of it and send in the copies. ATF will not return the Trust documents to you with the approved Form 4.

I'll be at hte range tomorrow if you want to stop by and I'll get it all sorted out for you and ready to got to the ATF.
I am hitting the gun show at 9:30 and then will stop by to try out the pistol. I'll have to put on the adapter.

I have everything copied, notarized and filled out. Just give it the once over. I should be GTG.

I'll see you there.

I'll be wearing a LaRue Tactical hat.

Thanks!
Maryland_Shooter is offline   Reply With Quote
Old February 6th, 2009, 08:00 PM   #6
Maryland_Shooter
Banned
 
Join Date: Feb 2008
Location: Glen Arm
Posts: 888
In MS Word. Link below

Sample Trust for Maryland
Maryland_Shooter is offline   Reply With Quote
Old February 6th, 2009, 08:11 PM   #7
Boondock Saint
Returnedish Member
 
Boondock Saint's Avatar
 
Join Date: Dec 2008
Location: White Marsh
Posts: 13,155
Quote:
Originally Posted by JeepDriver View Post

I'll be at the range tomorrow...
Same, and I'll have my even-greener-than-me wife with me. I'll be the fat guy with the XD.
Boondock Saint is offline   Reply With Quote
Old February 6th, 2009, 08:15 PM   #8
JeepDriver
Self confessed gun snob
 
Join Date: Aug 2006
Location: White Marsh
Posts: 5,169
Quote:
Originally Posted by Boondock Saint View Post
Same, and I'll have my even-greener-than-me wife with me. I'll be the fat guy with the XD.

Just look at my avatar for an accurate discription of me!


__________________
Quote:
Originally Posted by h2u View Post
Plus, she's a shooter....and this used to be a gun board-but that's a topic for another day.
JeepDriver is offline   Reply With Quote
Old February 8th, 2009, 12:23 PM   #9
Maryland_Shooter
Banned
 
Join Date: Feb 2008
Location: Glen Arm
Posts: 888
From a Trust Blog from a lawyer

1. When must a trustee record a new asset on the Assignment of Property or Schedule A? A trustee must record any and all firearms that are transferred to the trust on the day that they are transferred. Since the firearm is not “transferred” until the BATFE approves the transfer, upon receipt of the approved Form 1 or Form 4, the trustee should immediately add the newly transferred firearm to the Assignment of Property or Schedule A and include the serial number of the weapon.

Again, IMO - the ATF is not really up to par on processing these Trust related documents.

Chad says put it on, the article says leave it off.

Common sense (not very useful dealing with gun laws) tells me the latter should be the case. It's not my property to transfer until after the ATF approves the transfer to me as an individual, so I can then transfer my property to the Trust; consequently, it should be added to schedule A after the receipt of the approved Form 4 and tax stamp.

http://blog.princelaw.com/2009/1/21/...-gun-nfa-trust
Maryland_Shooter is offline   Reply With Quote
Old November 17th, 2009, 01:21 PM   #10
Calengor
wishes he were spike
 
Calengor's Avatar
 
Join Date: Apr 2009
Location: Frederick, MD
Posts: 2,109
Images: 4
Maryland Shooter, it looks like the .doc link is no longer available. Do you think you could repost the .doc or e-mail it (if so PM me for my email address)?

Also, anyone else use this template successfully?
Calengor is offline   Reply With Quote
Old November 17th, 2009, 02:50 PM   #11
md_rick_o
MSI EM
 
md_rick_o's Avatar
 
Join Date: Sep 2008
Location: Severn Md.
Posts: 3,495
Images: 2
Since this popped back up i'll ask my questions too:

1. How do you actually start this for the first item. I mean do you enact a trust then apply for the item (ie suppressor). How can you apply for the tax stamp using the trust if there isn't one right? But do you start the trust as empty (nothing in schedule A) i'm going in a circle with this question and probably missed a simple answer.

2. Using the trust basically lets you bypass the fingerprints, but is there anything else that it really does for you?

3. Is there some kind of background, NICS, or other investigation conducted on the trustees?

Sorry if these questions have already been answered somewhere but when this thread popped back up i just don't understand how to get it started.
md_rick_o is offline   Reply With Quote
Old November 17th, 2009, 08:32 PM   #12
boatbod
Senior Member
 
boatbod's Avatar
 
Join Date: Nov 2007
Location: Talbot Co
Posts: 2,859
Quote:
Originally Posted by md_rick_o View Post
2. Using the trust basically lets you bypass the fingerprints, but is there anything else that it really does for you?
It's my understanding that you can designate additional trustees who would then have the ability to possess the assigned trust items (e.g. NFA goodies) in your absence. Whilst you might argue that nobody else would be using the item, it is possible for a domestic partner to be charged with constructive possession if they physically have access to an NFA device (i.e. your spouse knows the combination to your safe).

Related to this, is my current lack of clarity whether an individual named as a beneficiary (e.g. my wife) explicitly also needs to be named as a trustee in order to be covered under these circumstances? I suppose the simple answer would be to set up a joint trust, or pay a visit to an estate planning lawyer, but I'd like to avoid both of those if possible.
boatbod is offline   Reply With Quote
Old November 17th, 2009, 09:13 PM   #13
snavematt
say what?
 
snavematt's Avatar
 
Join Date: May 2009
Location: Stafford, VA as of 5/7/13
Posts: 4,809
Quote:
Originally Posted by md_rick_o View Post
Since this popped back up i'll ask my questions too:

1. How do you actually start this for the first item. I mean do you enact a trust then apply for the item (ie suppressor). How can you apply for the tax stamp using the trust if there isn't one right? But do you start the trust as empty (nothing in schedule A) i'm going in a circle with this question and probably missed a simple answer.

2. Using the trust basically lets you bypass the fingerprints, but is there anything else that it really does for you?

3. Is there some kind of background, NICS, or other investigation conducted on the trustees?

Sorry if these questions have already been answered somewhere but when this thread popped back up i just don't understand how to get it started.
1. You have to have the serial number of the surpressor to put into the trust, when you apply for the tax stamp you send the trust. For example, Im waiting for my surpressor to get to GC, once there, I enter the serial number into my trust, get it notorized, go to GC do the rest of the paperwork, GC holds the surpressor till its approved, then I get it transferred to me
snavematt is offline   Reply With Quote
Old November 18th, 2009, 06:33 AM   #14
md_rick_o
MSI EM
 
md_rick_o's Avatar
 
Join Date: Sep 2008
Location: Severn Md.
Posts: 3,495
Images: 2
Quote:
Originally Posted by snavematt View Post
1. You have to have the serial number of the surpressor to put into the trust, when you apply for the tax stamp you send the trust. For example, Im waiting for my surpressor to get to GC, once there, I enter the serial number into my trust, get it notorized, go to GC do the rest of the paperwork, GC holds the surpressor till its approved, then I get it transferred to me
Aha, thanks i was going round in circles with that and just got fed up.
md_rick_o is offline   Reply With Quote
Old November 18th, 2009, 08:18 AM   #15
fivepointstar
Senior MDSF Asshat
 
fivepointstar's Avatar
 
Join Date: Apr 2008
Location: Harford COW-nty
Posts: 29,222
Images: 7
tag for future ref
THANKS!


__________________
.
Namaste

"In the future there will be no hunger, there will be no greed, and all the children will know how to read."


I'm a political prisoner in a Maryland Gulag

Disclaimer: Expressed above are my personal opinions. If you wish to complain, kindly take a number.
fivepointstar is offline   Reply With Quote
Reply

  Home Page > Forum List > The Arsenal > NFA/Class 3/Title II


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 06:55 PM.


Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
© 2013, Maryland Shooters, LLC