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The Range
NFA & Class III Discussion
Best Way to Own NFA Firearms/ Items (Personal, Trust, LLC)?
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<blockquote data-quote="djcorrell" data-source="post: 1302291" data-attributes="member: 12752"><p>The Major uses willmaker, it is actually an ok trust. to get a better one hire an attorney and get advise. if you have any assets you should already have one. the trust through him is free. i had mine modified. the several user thing is not correct unless there is some modification to the willmaker trust. however, a trust allows a transfer after death with no problems. without a trust you get to go through probate. no fun! the entity (trust) survives you. no fingerprints, no photos, no cleo! way less hassle. i have heard that there are transfer time differences between the two, however i have heard it both ways....so? hope this helps.</p><p></p><p>an LLC can "limit liability" to assets of the company. but so does a trust if it is not the same one that all other assets are in. ie. one trust for guns, one for "other" stuff...trust 1 is an asset of trust 2 but separate assets. however the LLC will not limit negligence in use....food for thought.</p></blockquote><p></p>
[QUOTE="djcorrell, post: 1302291, member: 12752"] The Major uses willmaker, it is actually an ok trust. to get a better one hire an attorney and get advise. if you have any assets you should already have one. the trust through him is free. i had mine modified. the several user thing is not correct unless there is some modification to the willmaker trust. however, a trust allows a transfer after death with no problems. without a trust you get to go through probate. no fun! the entity (trust) survives you. no fingerprints, no photos, no cleo! way less hassle. i have heard that there are transfer time differences between the two, however i have heard it both ways....so? hope this helps. an LLC can "limit liability" to assets of the company. but so does a trust if it is not the same one that all other assets are in. ie. one trust for guns, one for "other" stuff...trust 1 is an asset of trust 2 but separate assets. however the LLC will not limit negligence in use....food for thought. [/QUOTE]
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The Range
NFA & Class III Discussion
Best Way to Own NFA Firearms/ Items (Personal, Trust, LLC)?
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