What is with the trust costs?

[cpy911]

coulda saved yourself a lot of typing by just posting this...


specific example of a quicken trust fail that was NOT detected by the feds initially...

http://www.guntrustlawyer.com/2009/05/batfe-seeks-to-seize-nfa-firea.html

I clicked on the link and then tried to reference a name and case from Prince law and nothing is there. See <broken link removed>

Show me the case and where it was prosecuted. More scare tactics by Goldman. I have research what Goldman and Prince are saying and yes, they are drumming up sales via scare tactics. I have yet to have seen the details of a case that was actually prosecuted or even indicted or really anything. Nothing of substance.

By the way here is the Oregon law for trusts and my trust meets all the requirements. The NFA laws cover nothing about how a Trust is supposed to be formatted.

130.155 UTC 402. Requirements for creation. (1) A trust is created only if all of the following requirements are met:

(a) The settlor has capacity to create a trust.

(b) The settlor indicates an intention to create the trust.

(c) The trust has a definite beneficiary or is:

(A) A charitable trust;

(B) A trust for the care of an animal, as provided in ORS 130.185; or

(C) A trust for a noncharitable purpose, as provided in ORS 130.190.

(d) The trustee has duties to perform.

(e) The same person is not the sole trustee and sole beneficiary.

(2) A beneficiary is definite for the purposes of subsection (1)(c) of this section if the beneficiary can be ascertained when the trust is created or at any time thereafter, subject to any applicable rule against perpetuities.

(3) A power of a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred. [2005 c.348 §22]

 

[SCARed]

I clicked on the link and then tried to reference a name and case from Prince law and nothing is there. See <broken link removed>

Show me the case and where it was prosecuted. More scare tactics by Goldman. I have research what Goldman and Prince are saying and yes, they are drumming up sales via scare tactics. I have yet to have seen the details of a case that was actually prosecuted or even indicted or really anything. Nothing of substance.

Here was the follow up a couple days later. Bolded emphasis is mine. Might be scare tactics, might be legit. Lawyers can be crafty wordsmiths.
For the record my trust was from 199trust.com.



BATFE and Seizure From Invalid NFA Trust
May 26, 2009
Posted In: ATF / BATFE , Criminal Penalties , FAQ's , Firearms Articles , How to Purchase a NFA Title II (Class 3) Firearm

By David M. Goldman on May 26, 2009 12:54 PM | Permalink
Last week there was an issue where an individual was contacted by the ATF in an effort to seize his Title II firearms because of an irregularity with his Trust. A Gun Trust Lawyer® reviewed, amended, and restated the trust in question, creating a valid and enforceable trust that deals with the unique issues of NFA Firearms ownership, transfer, and possession. The BATFE had a justifiable reason to pursue the forfeiture action and the original reports on the subguns forum were accurate. After discussions with the BATFE and presentation of a valid Trust the BATFE decided to cease and desist their forfeiture action at this time and the individual is no longer in jeopardy of having his items seized, being arrested, or being fined. The BATFE and individual have requested that the details not be disclosed. The BATFE does not want to jeopardize similar ongoing investigations involving invalid trusts. We can state that the issues involved with this action have been covered elsewhere on this website.

 

[cpy911]

There is no evidence here. Just one guys claims. He could be making it all up. What are the legal fact and data? Where are the details? What was wrong specifically? What was corrected? What is the case number? Where can I see evidence that this is real? Did this actually take place? If BATFE was investigating this, they would let all applicants know and not keep it secret. These claims he has made are now over 5 years old and nothing has happened. I call BS.

 

[cpy911]

Some of David M. Goldman credentials:

University of Phoenix, B.S. (relatively low ranked school)
Florida Coastal School of Law, J.D. (4th-tier relatively low ranked Law School and one of the few "for-profit" Law Schools)

Runs these blogs or websites
www.guntrustlawyer.com/
www.jacksonvillelawyer.pro/
www.floridaestateplanninglawyerblog.com/
http://www.jacksonvillecriminaldefenselawyerblog.com/

 

[PDX1953]

Being a newbie to this area I'd like to know if I'm right about the following:

An NFA Trust lists one or more Trustees - let's say three of them
Only a Trustee can have an NFA item in their possession and they'd better be carrying a copy of the ATF document listing the item and a copy of the tax stamp

Beneficiaries are named and the items will transfer to them upon death of the Trustee(s)
A Trustee can be also be a Beneficiary
If Trustee #1 dies he can Will them to any Beneficiary listed

This morning I picked up my new Will, Durable Power of Atty, Advanced Directive and instructions on what to do with my remains if I should ever die (chuck me in a dumpster). One of my Retiree benefits is membership in the Hyatt Legal plan so all that stuff cost me zilch. I called the Atty. a couple of minutes ago about creating an NFA Trust but she said, "absolutely not!" but will refer me to someone who does. Maybe I'll call Hyatt & see if there are any within my plan......

 

[cpy911]

As for beneficiaries, they will need to transfer NFA items on the trust via ATF Form5 and that then registers the NFA items to the beneficiaries.

I read documents from the ATF stating that they provide for a "reasonable" time to get the NFA items transferred to the beneficiary, so they would not be in violation immediately if the trustee passed away. The beneficiaries would just need to submit the Form5 for each NFA item. I think they would need to submit within weeks not months or years later. I enclosed copies of ATF Form5 (which is a tax exempt transfer to heirs) in my documents. It is actually a fairly straightforward process.

 

[jbett98]

When my older friend passed away in 08, his widow refused to deal with his FA Thompson and Mac 11/Bowers suppressor.
I tried to explain the legal ramifications of her not transferring these NFA items into her name, or better yet, into my name as they were going to be passed down to me eventually, but she just plain didn't care
Fours years later, I finally got her to listen to a qualified gun trust attorney and after another year and over $10,000 of lawyer fees, state probate costs and tax stamps, it was finally over.
My friends will said this, "Wife gets guns".
That is not how you want to transfer NFA items to a beneficiary.