First, let me state, I've been doing some research on this topic - here on NWFA and elsewhere online. And while there is an abundance of information out there, much of it is either incomplete, outdated or simply speculation by people that don't really know.
So, I'd like to ask the question again - and I'm really asking of those that have done this themselves or may actually be an attorney educated in such things.
I am looking at getting my first can sometime next year. My FFL suggested I set up my trust now, so that would be ready to go when the time comes. He recommended going through SilencerShop to do their $130 NFA Trust. Okay, that sounds good to me. So, I went to their site to check things out and found I had more questions than answers.
I asked my FFL if the NFA trust could also be used for the guns I already own, and could I add them at any time? He said yes. But when I looked on their site, it made no mention of using the trust for anything but NFA items. Some may argue that you can assume you can add the other items - well, sorry, I don't assume when it comes to legal matters - I want a straight, authoritative answer. So I emailed SilencerShop and asked them - their response?? "You should be able to" What?? It's your product, why the wishy-washy non-answer? That doesn't exactly instill me with confidence.
With that, I'm expanding my search a bit. Below are a list of questions I currently have regarding trusts - as applies to NFA firearms, non-NFA firearms and other non-firearm items. If you think you have a good answer to one or more of them, please feel free to comment.
Please note that I am an Oregon resident and am looking for Oregon specific answers. Though I have a family member in Washington state that I may add to the trust - so that can be taken into account in your responses. I want to set up a trust where I can add and remove trustees as I desire. I also would like a trust (if possible) that covers NFA items, non-NFA firearms and also, if possible, non-firearm related items like vehicles, etc.
1. Does anyone have actual experience using the SilencerShop NFA trust? Were you able to add regular, non-NFA firearms to the trust? How was the process? Would you recommend them?
2. Does a trust for NFA items specifically have to be an NFA trust? Or could a standard revocable living trust be used for NFA items. NOTE - I've found sources online that says you CANNOT use a standard revocable living trust for NFA items - if you know that to be wrong, please cite a source.
3. Does anyone have a good source for creating an NFA trust other than SilencerShop? I looked over some threads here on the site and half the info is outdated and/or the links to the sites or documents are broken - please keep that in mind before you point me back to those same threads.
I'd rather not spend hundreds of $$ on an attorney to set up the trust if I can avoid it. But if that's the safest route to go, I'll consider it.
Thanks in advance for the responses - I'm sure NWFA will help me sort this out.
Tagging @SKrueger since we were just discussing this topic.
So, I'd like to ask the question again - and I'm really asking of those that have done this themselves or may actually be an attorney educated in such things.
I am looking at getting my first can sometime next year. My FFL suggested I set up my trust now, so that would be ready to go when the time comes. He recommended going through SilencerShop to do their $130 NFA Trust. Okay, that sounds good to me. So, I went to their site to check things out and found I had more questions than answers.
I asked my FFL if the NFA trust could also be used for the guns I already own, and could I add them at any time? He said yes. But when I looked on their site, it made no mention of using the trust for anything but NFA items. Some may argue that you can assume you can add the other items - well, sorry, I don't assume when it comes to legal matters - I want a straight, authoritative answer. So I emailed SilencerShop and asked them - their response?? "You should be able to" What?? It's your product, why the wishy-washy non-answer? That doesn't exactly instill me with confidence.
With that, I'm expanding my search a bit. Below are a list of questions I currently have regarding trusts - as applies to NFA firearms, non-NFA firearms and other non-firearm items. If you think you have a good answer to one or more of them, please feel free to comment.
Please note that I am an Oregon resident and am looking for Oregon specific answers. Though I have a family member in Washington state that I may add to the trust - so that can be taken into account in your responses. I want to set up a trust where I can add and remove trustees as I desire. I also would like a trust (if possible) that covers NFA items, non-NFA firearms and also, if possible, non-firearm related items like vehicles, etc.
1. Does anyone have actual experience using the SilencerShop NFA trust? Were you able to add regular, non-NFA firearms to the trust? How was the process? Would you recommend them?
2. Does a trust for NFA items specifically have to be an NFA trust? Or could a standard revocable living trust be used for NFA items. NOTE - I've found sources online that says you CANNOT use a standard revocable living trust for NFA items - if you know that to be wrong, please cite a source.
3. Does anyone have a good source for creating an NFA trust other than SilencerShop? I looked over some threads here on the site and half the info is outdated and/or the links to the sites or documents are broken - please keep that in mind before you point me back to those same threads.
I'd rather not spend hundreds of $$ on an attorney to set up the trust if I can avoid it. But if that's the safest route to go, I'll consider it.
Thanks in advance for the responses - I'm sure NWFA will help me sort this out.
Tagging @SKrueger since we were just discussing this topic.