You may be right on Form 5, not going to dig into it. My post was more about why make someone go through it. And any item in a Form 5 is not useable to a beneficiary until complete.
"Gun Trust" the do's and don'ts
- Thread starter DennisH
- Start date
You may be right on Form 5, not going to dig into it. My post was more about why make someone go through it. And any item in a Form 5 is not useable to a beneficiary until complete.
I researched on and off for about 2yrs. spoke with several attorneys, and ended up using:
https://www.guntrustguru.com/
This was a no nonsense easy trust that was prepared by a respected gun trust attorney. I had many emails and phone conversations with Jim Willi, and he was very helpful. He did not want to know the value of my gun collection etc. in order to try to con me into paying for an advanced or the recommended "professional trust" for what I have. I do have $1.00 contribution assigned to my trust and do not need to assign firearms unless doing a form1.
I wanted a gun trust only for nfa items. Not looking to provide asset protection from creditors, etc. This seems to be a big selling point to some gun trust lawyers:>(
I am the settlor and successor, and have all say in regards to trust unless ineligible, or upon death.
I am the only one that needs to sign the trust along with a notary public. I can also make changes to co-trustees without having to redo the trust or incur extra fees to do so(notary public required).
My goal is to be able to let family members to legally borrow/use nfa items when I am not present, and this trust does that.
Down the road, it probably does not matter, as any future el-presidente can make an executive order to null, or the nfa-batfe can rule however they desire and change the ruse.
You say it is unconstitutional? It has been going on for years, and no president is going to give up such powers, and congress does not have the guts to overturn the regulatory agencies involved.
Maybe I'm fartin in the wind:>)
https://www.guntrustguru.com/
This was a no nonsense easy trust that was prepared by a respected gun trust attorney. I had many emails and phone conversations with Jim Willi, and he was very helpful. He did not want to know the value of my gun collection etc. in order to try to con me into paying for an advanced or the recommended "professional trust" for what I have. I do have $1.00 contribution assigned to my trust and do not need to assign firearms unless doing a form1.
I wanted a gun trust only for nfa items. Not looking to provide asset protection from creditors, etc. This seems to be a big selling point to some gun trust lawyers:>(
I am the settlor and successor, and have all say in regards to trust unless ineligible, or upon death.
I am the only one that needs to sign the trust along with a notary public. I can also make changes to co-trustees without having to redo the trust or incur extra fees to do so(notary public required).
My goal is to be able to let family members to legally borrow/use nfa items when I am not present, and this trust does that.
Down the road, it probably does not matter, as any future el-presidente can make an executive order to null, or the nfa-batfe can rule however they desire and change the ruse.
You say it is unconstitutional? It has been going on for years, and no president is going to give up such powers, and congress does not have the guts to overturn the regulatory agencies involved.
Maybe I'm fartin in the wind:>)
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I think the trust is a good idea even after the new legislation as it allows your trustees to use the items without you being present. Also, if you have heirs, it keeps your items from ending up in probate when you die. If this isn't a concern to you, then the individual route makes more sense.
DennisH
Life Time NRA member
Does the stamp follow the item? Or is there a stamp for each item you accuire?
I am looking for a "good/great" can for my DPMS 308. Any ideas?
Dennis
You need a stamp for each item you buy. For example, if you own 2 cans and an SBR you would need 3 stamps.
I'm definitely no expert on cans, but I just put a Silencerco Saker 7.62 on order. I went with them because they have numerous mounting options and the end cap can be changed out to be used with 5.56 rifles as well. A good friend of mine who is very like minded has one and likes it, so I didn't do a ton of research before buying one as I trust his opinion/knowledge. Not to say I didn't do my own reading, but everyone has their opinion so it's hard to weed through it all. Price wasn't a huge concern for me as this was a "one time purchase", but quality/flexibility was.
highlife
Silver $$ Contributor
This is the main reason I went the trust route. Also, the legal transportation or possession for people within the trust.
A good writen up trust will allow you to give other people to possession that are not in the main trust for a period of time that expires. The attonery that wrote mine up gave me a writen form for this.
highlife
Silver $$ Contributor
The trustee fall in this. The way i set mine up was me & the wife are on the main trust.
Hopefully she will revise the trust after iam gone.
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