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The Range
NFA & Class III Discussion
Advantages of Trust
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<blockquote data-quote="henschman" data-source="post: 2859741" data-attributes="member: 4235"><p>I am a lawyer who writes NFA trusts.</p><p></p><p>Only applications filed after July 1 will be subject to the new Rule 41P and it's requirements of photos, prints, and LEO notification.</p><p></p><p>Even after the rule goes into effect, there are benefits to a trust. </p><p></p><p>It allows you to let others (friends, family, etc.) to possess the trust items even when you are not present. There is no legal way to do this as an individual. </p><p></p><p>A trust also avoids probate upon your death, which can be a lengthy and expensive process, and allows the items to remain under the control of those you choose and trust (your co-trustees), instead of having them lumped into your estate.</p><p></p><p>It is true that the new rule requires anyone else on the trust who is allowed to possess the items to submit the same info as you. However, only people who are responsible parties AT THE TIME OF APPLICATION are required to submit this info. My trusts are written to allow you to easily remove all your co-trustees before you submit an application, so that you are the only one who needs to send prints/photos/notification, and then add them back at a later date. My trusts include all the forms to do this, as well as forms to put non-NFA firearms and other property into the trust (on a separate schedule so the ATF doesn't need to know about them), and forms to open a bank account in the name of the trust if you so choose. </p><p></p><p>I charge $200 for my trusts. Feel free to contact me with any other questions you have.</p></blockquote><p></p>
[QUOTE="henschman, post: 2859741, member: 4235"] I am a lawyer who writes NFA trusts. Only applications filed after July 1 will be subject to the new Rule 41P and it's requirements of photos, prints, and LEO notification. Even after the rule goes into effect, there are benefits to a trust. It allows you to let others (friends, family, etc.) to possess the trust items even when you are not present. There is no legal way to do this as an individual. A trust also avoids probate upon your death, which can be a lengthy and expensive process, and allows the items to remain under the control of those you choose and trust (your co-trustees), instead of having them lumped into your estate. It is true that the new rule requires anyone else on the trust who is allowed to possess the items to submit the same info as you. However, only people who are responsible parties AT THE TIME OF APPLICATION are required to submit this info. My trusts are written to allow you to easily remove all your co-trustees before you submit an application, so that you are the only one who needs to send prints/photos/notification, and then add them back at a later date. My trusts include all the forms to do this, as well as forms to put non-NFA firearms and other property into the trust (on a separate schedule so the ATF doesn't need to know about them), and forms to open a bank account in the name of the trust if you so choose. I charge $200 for my trusts. Feel free to contact me with any other questions you have. [/QUOTE]
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