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Disclaimer: I am not a bloodsucking lawyer and don't ever plan on being one, so use my information at your own risk.
Now that I got that out of the way, this is what I did and it has worked well for me. Since I have been asked so many times how to set up a trust like I did, I'll tell you how. This hopefully will show you step by step what you need to do to set up a Revocable Living Trust so you can bypass the Sheriff of the county you live in.
Step 1: Go to the store and buy Quicken Will Maker. My desktop came with Quicken Will Maker 2004, so that's what I use. Once you get it home look at the box for a while, study the corners, and when you can't stand it any more, open the box and install the software.
Step 2: Once it's installed go to "Create Document" and select "living trust". It will then ask what state you live in. If you live in Oregon, select Oregon. If you live in Washington, don't select Oregon. If you're unfortunate enough to live in Alaska.......You're on your own.
Step 3: Fill in the blanks. I'm not going to tell you how to type your name or your family member's names so you're on your own for this one. It will also ask if you are male or female. If you have made it this far in life and don't know yet....you're screwed.
Step 4: Name a successor trustee. This person will be in charge of giving away your stuff when you die.
Step 4: Name an alternate successor. Somebody that you didn't pick in the last step.
Step 5: Name property. This will be entered on the "Assignment of property" which actually puts the trust in ownership of the firearm. Be specific. If it's a Mega Model "Gator" Serial Number "1234567" enter "Mega Gator Serial Number: 1234567"
Step 6: Name your beneficiaries. Pick someone you plan on knowing as long as you live and would want your NFA stuff going to if/when you die. This person has no authority over your trust items while you're alive but once you're dead, it goes to them (in theory).
Step 7: Name A Residuary Beneficiary. Name somebody else who will get your stuff if both you and your primary beneficiary die. For example, you name your wife as your primary beneficiary, and you both die in a car accident....who would the next choice be for your stuff to go to?
Step 8: Property Management For Young Beneficiaries: If you picked a beneficiary that is under the legal age to own an NFA firearm, pick someone who is old enough.
Once you have that done, it will show you a preview of the trust document. Review it and make sure all information is correct. If it's correct, print it out. You will get a "Declaration Of Trust", "Schedule A" and "Assignment of Property"
Fill out the assignment of property and put it in a folder with the Schedule A.
Take the Declaration of Trust to your bank and have it notarized.
Once you do that, print out a "Certification of Trust" and keep all information in a folder in a safe place.
You're almost done. All you need to do now is Get to work on your Form 1 or hound your dealer about the Form 4. On the form 1, instead of checking the "individual" box, check the "Corporation or other business entity box" In name, enter the name of your trust, not just your name. So if my name is John Q. Public. On the Form 1, it says John Q. Public Revokable Living Trust.
Fill out the front page down to box 11. print it out so it's a double sided page and leave the back blank. There's spots for pictures and for your CLEO to sign, but that's not needed with a trust.
Take the Form 1, Form 4, whatever and put it in a folder. Make copies of your entire trust (Cert. of Trust, Declaration of Trust, Schedule A, Assignment of Property, etc.) and put it in the packet. Some people say the ATF doesn't need all that information, but I have heard of people having to fax in more paperwork, so I just send it all in at once.
Write a check for $200 and put it in the packet. Take it to the Post Office and send it in....then just wait.....and wait.....and wait......and wait......and wait.
Once you get the tax stamp, make copies.....lots of copies. I made a binder with all my tax stamps and all my trust documents in it (DO NOT CARRY THE ORIGINALS AROUND WITH YOU) and any time I go to the range with any NFA items, the binder comes too. Anywhere the NFA items are, there should be a tax stamp.
Forgot one thing: When you get your receiver engraved for SBR/SBS/AOW, it needs to be engraved with the trust name (John Q. Public RLT Salem,OR)
OK, I think I have covered everything....if I missed anything, I'll edit and post it up.
Now that I got that out of the way, this is what I did and it has worked well for me. Since I have been asked so many times how to set up a trust like I did, I'll tell you how. This hopefully will show you step by step what you need to do to set up a Revocable Living Trust so you can bypass the Sheriff of the county you live in.
Step 1: Go to the store and buy Quicken Will Maker. My desktop came with Quicken Will Maker 2004, so that's what I use. Once you get it home look at the box for a while, study the corners, and when you can't stand it any more, open the box and install the software.
Step 2: Once it's installed go to "Create Document" and select "living trust". It will then ask what state you live in. If you live in Oregon, select Oregon. If you live in Washington, don't select Oregon. If you're unfortunate enough to live in Alaska.......You're on your own.
Step 3: Fill in the blanks. I'm not going to tell you how to type your name or your family member's names so you're on your own for this one. It will also ask if you are male or female. If you have made it this far in life and don't know yet....you're screwed.
Step 4: Name a successor trustee. This person will be in charge of giving away your stuff when you die.
Step 4: Name an alternate successor. Somebody that you didn't pick in the last step.
Step 5: Name property. This will be entered on the "Assignment of property" which actually puts the trust in ownership of the firearm. Be specific. If it's a Mega Model "Gator" Serial Number "1234567" enter "Mega Gator Serial Number: 1234567"
Step 6: Name your beneficiaries. Pick someone you plan on knowing as long as you live and would want your NFA stuff going to if/when you die. This person has no authority over your trust items while you're alive but once you're dead, it goes to them (in theory).
Step 7: Name A Residuary Beneficiary. Name somebody else who will get your stuff if both you and your primary beneficiary die. For example, you name your wife as your primary beneficiary, and you both die in a car accident....who would the next choice be for your stuff to go to?
Step 8: Property Management For Young Beneficiaries: If you picked a beneficiary that is under the legal age to own an NFA firearm, pick someone who is old enough.
Once you have that done, it will show you a preview of the trust document. Review it and make sure all information is correct. If it's correct, print it out. You will get a "Declaration Of Trust", "Schedule A" and "Assignment of Property"
Fill out the assignment of property and put it in a folder with the Schedule A.
Take the Declaration of Trust to your bank and have it notarized.
Once you do that, print out a "Certification of Trust" and keep all information in a folder in a safe place.
You're almost done. All you need to do now is Get to work on your Form 1 or hound your dealer about the Form 4. On the form 1, instead of checking the "individual" box, check the "Corporation or other business entity box" In name, enter the name of your trust, not just your name. So if my name is John Q. Public. On the Form 1, it says John Q. Public Revokable Living Trust.
Fill out the front page down to box 11. print it out so it's a double sided page and leave the back blank. There's spots for pictures and for your CLEO to sign, but that's not needed with a trust.
Take the Form 1, Form 4, whatever and put it in a folder. Make copies of your entire trust (Cert. of Trust, Declaration of Trust, Schedule A, Assignment of Property, etc.) and put it in the packet. Some people say the ATF doesn't need all that information, but I have heard of people having to fax in more paperwork, so I just send it all in at once.
Write a check for $200 and put it in the packet. Take it to the Post Office and send it in....then just wait.....and wait.....and wait......and wait......and wait.
Once you get the tax stamp, make copies.....lots of copies. I made a binder with all my tax stamps and all my trust documents in it (DO NOT CARRY THE ORIGINALS AROUND WITH YOU) and any time I go to the range with any NFA items, the binder comes too. Anywhere the NFA items are, there should be a tax stamp.
Forgot one thing: When you get your receiver engraved for SBR/SBS/AOW, it needs to be engraved with the trust name (John Q. Public RLT Salem,OR)
OK, I think I have covered everything....if I missed anything, I'll edit and post it up.
