Thread: NFA Talk
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Old 02-16-2013, 08:52 AM   #89
M3_POWER
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Join Date: Nov 2004
Location: Las Vegas
Posts: 1,127
My Ride: 2005 M3
Quote:
Originally Posted by Serbonze View Post
Local officials knowing what I own was definitely a turn off for me. If SHTF, the coordination between the ATF and local law enforcement would be slow and difficult, in my opinion.

Regarding the Trust, I meant that you pay for the trust one time so it's not an ongoing expense. You still need to pay $200 for each tax stamp.

It's a revocable trust, so you can amend it at any time. However, my suggestion is that you contact an attorney to draw up any amendments and NOT amend it yourself. You will probably get charged for that though.

I had specific language incorporated into my trust that allows my wife to be a co-trustee but I retain the ability to act independently. That allows me to add, remove, and make any changes without the need for her signature. I also included full instructions for any trustee or co-trustee on how to legally sell the items held in the trust. Since the language of my trust does not allow trustees to act independently (except for me) I included a pre-written letter of resignation for my wife just in case she doesn't have the emotional capacity to deal with it after my death. That would leave my father as the sole successor trustee, and allow him to transport and sell all items owned by the trust.

Full disclosure - I review trusts everyday and I'm very familiar with them, although I'm not a lawyer.
Wow, that's an extremely thorough trust. Who did you get yours through? Lets say I also get a trust for a can. If I went through the same person, would they be able to use my first trust as a starting point or template (modify it of course).
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