NFA trust sale, $59

[Evojoeix]

Did I every say that?

I asked, what would happen if your trust did not stand up? Might be fine, might not be.

Your choice to take the chance.

I am not as worried about the Fed gov and my trust, but other entities.

i did not say you said that, i respect your choice to do what gives you peice of mind, like i stated

 

[2SAM22]

Will the ATF start to review trusts at the direction of a Sanders or Clinton controlled Justice Department? Who knows.
It is outside of the realm of possibility? I don't think so.
I'm seeing many things nowadays that 10 or 20 years ago I would have said, "never happen."
I'm not running around like chicken little here, just saying over the lifetime of your trust, the extra money amounts to pennies a day and, at least for me, provides a level of comfort that exceeds the cost. YMMV.

 

[Evojoeix]

well just look at it this way, in july its pretty much pointless to get a nfa trust unless you truly want it to be able to pass down your NFA items, which probably only a small percentage of people actually care about (i could be wrong on that, just my guess based on the people i have talked to)

i really am curious as to how the language is different between these cookie cutter trusts and a MD attorney written trust.

 

[2SAM22]

well just look at it this way, in july its pretty much pointless to get a nfa trust unless you truly want it to be able to pass down your NFA items, which probably only a small percentage of people actually care about (i could be wrong on that, just my guess based on the people i have talked to)

i really am curious as to how the language is different between these cookie cutter trusts and a MD attorney written trust.

You forgot about allowing family etc access to the firearms, (second safe with combination only known to you and the like)
I will continue to use the trust because of this.

 

[Evojoeix]

You forgot about allowing family etc access to the firearms, (second safe with combination only known to you and the like)
I will continue to use the trust because of this.

very true.

 

[OnTarget]

Are they beneficial if you do not own or do not plan to own NFA items?

Nobody took on your question. It seems that there would be some positive benefit. I'd love to know the answer as well.

 

[OnTarget]

Waiting for 199Trust to go back on sale or one akin to it - one that has credibility.

 

[Trumpet]

Waiting for 199Trust to go back on sale or one akin to it - one that has credibility.

I thought that was a sham trust?

 

[Hawkeye]

I thought that was a sham trust?

Plenty of people here (including me) have them and have used them without any issue.

 

[jkeys]

Waiting for 199Trust to go back on sale or one akin to it - one that has credibility.

Keep an eye on Gearhog.com, they have been running this same sale on 199trusts.com every 2-3 months. With 41p hitting in July I wouldn't be surprised to see it pop back up more often.

I thought that was a sham trust?

Nope, not a sham. I have personally used them and so have some friends.

 

[Ifdot]

Could you go back and resubmit your trust if you were to upgrade it to one of those fancy ones? Or does it matter as to what you have on you at the time? If you need to make changes to your trust or want to add or delete people from your trust what do you do then?

 

[iH8DemLibz]

Howdy, All

Been reading through this and other threads.

In various threads, I've seen cookie cutter trusts at 59 bucks and upper crust trusts at 500 bucks.

What is the real middle of the road number for a trust in Baltimore County? Aside from some piece of mind, what does 500 bucks buy you as opposed to 250/350 bucks?

 

[jkeys]

Could you go back and resubmit your trust if you were to upgrade it to one of those fancy ones? Or does it matter as to what you have on you at the time? If you need to make changes to your trust or want to add or delete people from your trust what do you do then?

The way these trusts are generally set up are as "revocable living trusts". They are "living documents" in the sense that they can be changed, amended, etc., and are not set in stone. Changing them can be as simple as making a hand written note on the trust and having a notary witness the change, or changes can be as complex as having a lawyer re-write entire sections.

As long as you aren't making major changes to the legal wording, you shouldn't need a lawyer. Adding or removing trustees and beneficiaries is just adding or removing names from a list.

A good lawyer will recommend that you send your trust to your county's Register of Wills so that in the event of your death your family isn't searching for the trust documents. You can also send in the document yourself. You should do this any time it is updated so the county has the most up to date documents on file. It only costs about $5-10 in Baltimore County if I recall correctly.

 

[jkeys]

Howdy, All

Been reading through this and other threads.

In various threads, I've seen cookie cutter trusts at 59 bucks and upper crust trusts at 500 bucks.

What is the real middle of the road number for a trust in Baltimore County? Aside from some piece of mind, what does 500 bucks buy you as opposed to 250/350 bucks?

The difference is $200 worth of beer . But seriously, a higher price doesn't necessarily mean you are getting a better legal document. The only reason I would spend extra is if you didn't trust the cheaper lawyer, or if you have a special circumstance that requires extra wording that their pre-existing template might be lacking.

 

[Hawkeye]

Could you go back and resubmit your trust if you were to upgrade it to one of those fancy ones? Or does it matter as to what you have on you at the time? If you need to make changes to your trust or want to add or delete people from your trust what do you do then?

That totally depends on how the trust is originally written. The way most of them are done is as was mentioned above - they're revocable living trusts that can be amended or altered at any time by the trustees. With mine (which came from 199trusts.com) I can make whatever changes I like at any time. If I wanted to, I could take it to a lawyer and have them re-write it for me while maintaining the same legal entity.

Howdy, All

Been reading through this and other threads.

In various threads, I've seen cookie cutter trusts at 59 bucks and upper crust trusts at 500 bucks.

What is the real middle of the road number for a trust in Baltimore County? Aside from some piece of mind, what does 500 bucks buy you as opposed to 250/350 bucks?

$500 for a trust from a local lawyer (and I don't know specifically what any of them actually charge) will buy you a trust that is custom written for you. You'll get that lawyer's boilerplate trust with any edits for your specific situation. In my case, I was satisfied with the language in the trust from 199trusts.com and especially so with the price.

Would I have been equally as satisfied with a trust from one of our legal IPs here? Almost certainly. Would it have provided any extra protections or something? Possibly, but I don't know because I've never read one.

 

[Pinecone]

Are they beneficial if you do not own or do not plan to own NFA items?

Not really.

One of the reasons for an NFA trust have to do with possession. You can lyour spouse take your non-NFA firearm to the range and shoot it without you.

If you have an NFA item (suppressor, SBR, SBS, etc) that was purchase as an individual, you MUST be present anytime it is out of the safe. In fact, your spouse is not supposed to even have the combo to a safe holding NFA items.

With a trust, anyone who is a trustee can have access to the NFA items and to use them without you being present.

Also, prior to 41P going into affect, you can eFile Form 1s, and you do not have to submit photos, finger prints, and CLEO sign off. So faster and easier transactions.

And an NFA trust provides a clear path for inheritance, even if you do not have a will.

None of this applies to non-NFA items, so not reason to have a trust.

 

[Pinecone]

and do you think a md lawyer trust will stand up anymore to the federal government? either way, if that situation ever arises, regardless of who writes your trust, you are going to be spending a lot of money for a lawyer

i dont have an issue with people doing what they want for their own piece of mind, but its completely bogus for people to state you will goto prison or your items will get seized one day based on nothing but absolute speculation

Although, if you have a lawyer draw it up, they have vested interest in defending it.

I NEVER said any of the second paragraph. I only ask, will your trust hold up? Not necessarily from the government, but how about a vicious spouse?

 

[OnTarget]

Not really.

One of the reasons for an NFA trust have to do with possession. You can lyour spouse take your non-NFA firearm to the range and shoot it without you.

If you have an NFA item (suppressor, SBR, SBS, etc) that was purchase as an individual, you MUST be present anytime it is out of the safe. In fact, your spouse is not supposed to even have the combo to a safe holding NFA items.

With a trust, anyone who is a trustee can have access to the NFA items and to use them without you being present.

Also, prior to 41P going into affect, you can eFile Form 1s, and you do not have to submit photos, finger prints, and CLEO sign off. So faster and easier transactions.

And an NFA trust provides a clear path for inheritance, even if you do not have a will.

None of this applies to non-NFA items, so not reason to have a trust.

As I summarize what you said, it looks like there is no benefit in having a NFA Trust if one currently does not have any NFA items and has no plans to acquire any in the future.

 

[OnTarget]

Do you guys initiate these NFA Trusts, even if you already have in existance a Will/Living Will/Power of Attorney setup by an attorney? Does the NFA Trust interfere with these? For example, in ones Will, it might be specified that all items including firearms are to be inherited by the spouse. Thus far, no NFA items have been purchased and future plans are simply unknown.

 

[Hawkeye]

Do you guys initiate these NFA Trusts, even if you already have in existance a Will/Living Will/Power of Attorney setup by an attorney? Does the NFA Trust interfere with these? For example, in ones Will, it might be specified that all items including firearms are to be inherited by the spouse. Thus far, no NFA items have been purchased and future plans are simply unknown.

Couple of things:

First, you don't necessarily need a trust to handle inheritance. It does make it somewhat easier in that you can specify exactly who you want to become trustee after your death, and that person effectively gains control of whatever property the trust has at that point. For example, in my trust I am the sole trustee, but my wife is set up as a successor trustee and my son as the beneficiary. If I die or become incapacitated, my wife becomes a full trustee and has the duty to administer the trust for the benefit of my son. (i.e. until he is old enough to become a full trustee and have possession of the items in the trust.)

If you personally own NFA items (i.e. they are registered to you, not to a trust) your heirs can still inherit them tax free. It just requires ATF paperwork and they'll be administered with the rest of your estate, which may mean probate, etc depending on how you have things set up.

Second, remember that items in a trust do not belong to you and are not your property. They are the property of the trust. Thus, when you die, your will or how your estate is handled has no bearing on what happens to items that are property of the trust. Those will be administered according to what is written in the trust itself. Thus, if you have a trust that owns some NFA firearms, and you specify in your will what is to be done with your firearms when you die, that has zero bearing on what happens to those NFA firearms which belong to the trust, because they are not your legal property.