Revocable Living Trust

[Nwcid]

So sorry but I don't know much of anything about trusts. Is there any reason, other than a faster form 4 processing time, to have a trust established?

Currently, there are some possible changes coming, there are several "advantages". The biggest reason that trust became so popular are for guys like me that had LEO's that would not "sign off" on them. The funny/sad part is the sign off is basically a local background check......

With a trust you do not need an LEO sign off, finger prints or passport photos. So that made things a little cheaper and easier. Since finger prints did not need to be run at the ATF it was a little faster there also.

The other real big win with a trust over "individual" is who can have legal possession of the item(s). With an "individual" you are the ONLY person allowed to be in possession. Say you are married or have a father/son/uncle/awesome friend/ect that you would like also to be able to have legal possession of it, a trust can do that. Or for a more simple one, if you are married, even leaving access to your NFA items in the house could get you and your wife both felonies for illegal transfer.

 

[Callidus98]

The other benefit of having a trust own your NFA items is that any of the trustees can posses the items. For instance, I plan to have both my dad and brother listed as trustees so that my brother can take my suppressor to the range without me. If the suppressor is registered to me and only me, then if I have to use the restroom while at the range, I have to take it with me so that it is always in 'my control'.

 

[SquidHC]

Man, as ridiculously specific as the rules seem to be it would be a bit silly to not have a trust set up.

 

[PDXSparky]

NFA lawyer recommendations for Oregon?

http://nwgunlawgroup.com/gun-trusts/ These guys do both Oregon and Washington trusts. I got my Oregon trust from them. Three stamps so far, 1 pending.

 

[spectra]

http://nwgunlawgroup.com/gun-trusts/ These guys do both Oregon and Washington trusts. I got my Oregon trust from them. Three stamps so far, 1 pending.

I used them also but there is better out there. For the price they can not be beat but if you want to have more options it is going to cost you through them.

 

[PDXSparky]

I used them also but there is better out there. For the price they can not be beat but if you want to have more options it is going to cost you through them.

Agreed. If their "bronze" version works for you, then it is a good value. The prices they charge for individualized trusts seems a bit on the high side.

I edited my bronze trust a bit. I made the name of the trust shorted for one thing.

 

[John H]

Agreed. If their "bronze" version works for you, then it is a good value. The prices they charge for individualized trusts seems a bit on the high side.

I edited my bronze trust a bit. I made the name of the trust shorted for one thing.

I am still looking into this, but what does the bronze not allow you to do??

Everyone that has used the Bronze Trust from them seem happy???

 

[PDXSparky]

I am still looking into this, but what does the bronze not allow you to do??

Everyone that has used the Bronze Trust from them seem happy???

The bronze trust doesn't specifically name beneficiaries or other trustees.

It does allow you buy class 3 toys, and that's all I need.

 

[best defense]

Have anyone try this in or? Whats the out come?

I used a trust when I applied for my first suppressor.
That was last year and the BATFE was still accepting applications via electronic application. I had the help of the class 3 dealer who was selling the suppressor to me.
I got the form for back in 6 months and one week.
I was told that since then, the BATFE is no longer accepting electronic forms. I do not know from personal experience if that is true or not. It seems that if they were doing electronic forms, they could do them much faster and possibly clear their back up, but of course this is the US government we're talking about, so I don't suppose they are in any big hurry to do much of anything.

 

[best defense]

I used a trust when I applied for my first suppressor.
That was last year and the BATFE was still accepting applications via electronic application. I had the help of the class 3 dealer who was selling the suppressor to me.
I got the form for back in 6 months and one week.
I was told that since then, the BATFE is no longer accepting electronic forms. I do not know from personal experience if that is true or not. It seems that if they were doing electronic forms, they could do them much faster and possibly clear their back up, but of course this is the US government we're talking about, so I don't suppose they are in any big hurry to do much of anything.

One more thing, I added a schedule 'B' which states who the successor trustee is.

 

[Doc In UPlace]

re: EForms, you can just read it for yourself, here: <broken link removed>

 

[John H]

The bronze trust doesn't specifically name beneficiaries or other trustees.

It does allow you buy class 3 toys, and that's all I need.

OK, so no adding the wife or other family members

 

[best defense]

I added my son as a survivor trustee on a schedule B

 

[PDXSparky]

OK, so no adding the wife or other family members

I didn't specifically say that you couldn't add them, only that there was no provision in the bronze trust to name them. You can add them yourself. Since I am not a lawyer, I can't say how you'd do this, but obviously it can be done.

Or you could just name them in your will as that is what the trust defaults to.

 

[turbodiesel]

Question about pre-purchased trust paperwork:

Purchased trust paperwork from online retailer which allowed me to add co-trustees, beneficiaries, etc.
Now that I have the .pdf file, I decide that I want to remove someone as a co-trustee. Can I just remove them from that section prior to printing out the paperwork? Or do I have to do an amendment to the trust? It has never been printed previously and obviously never been used.

 

[The Heretic]

I would think that until the document has been used to enact the trust (i.e., signed, notarized, maybe whatever it takes to have it registered?), then you can change it however you want to.

But if the trust is already "in place", then you would either have to revoke it or amend it, and go through the process for that.

 

[Doc In UPlace]

As I understand it, until the trust document is distributed, it may be amended.

 

[turbodiesel]

That is the way I understood it as well Doc. I'd just hate to inadvertently do something wrong.

 

[Doc In UPlace]

I hear ya. I wish I could recall where I read that about the distribution, it was back during the 10 1/2 month wait for my Spectre II stamp.

 

[spectra]

I would agree that if you have not used it you should be able to change it in any way you see fit. I know people have purchased them in the past and then changed the name as they did not want to spell it all out on a SBR.

Once you use it well you are stuck with what you have.