The fever has hit me and I need a little help! I'am about to get a gun trust and have a few questions!

[Jbremount]

The fever has finally hit me! I am researching the internet for the online gun trust. I want to purchase a silencer soon and probably SBR a 30blk pistol built next year. I was looking at a couple of sites that sell the online guns trusts. Can someone with experience with guntrustguru or silencero/silencer shop tell me if one trust is better than the other? The link I included says there is a significant difference between the two! For example, according to guntrustguru trust, I am the only one needing to sign the trust in front of an notary to establish the gun trust. The link also list other differences that seem advantageous to me. What am I missing?


https://www.guntrustguru.com/


Appoint Co-Trustees Anytime Without Amending Your Gun Trust

Our gun trust is designed so that you are the only person who needs to sign the gun trust in front of a notary to establish your gun trust, which means that you can buy your NFA firearm from your Class 3 dealer immediately. After your gun trust is created, you can use another legal document that we provide to you to appoint additional co-trustees anytime (so that they can use and possess your NFA firearms) without needing to amend your gun trust or paying an attorney to amend your gun trust. Further, you can appoint additional co-trustees either as long-term trustees or as short-term trustees (such as while you and a friend are on a hunting trip).
Their form requires you and all of your other co-trustees to sign the form in front of a notary before your trust is created. After your trust is created, you must amend your trust each time that you want to appoint an additional co-trustee

[rpk47]

I'll try to cover each point they list on their site first and maybe go over some other stuff along the way. Normal IANAL disclaimer, just my own understanding from reading.

Drafted by an experienced gun trust attorney - Any good one will be, until you see the wording in the trust its hard to say if one is better than the other

Designed to hold both NFA and non-NFA firearms - Again any good one will do this too.

No Schedule A disclosing your inventory of firearms to third parties - This gets some people tripped up. Some trusts have wording that requires someone to keep a master list of all the stuff owned by the trust. However, when you file for a form 4 or 1 on a trust you do need to send in all the related documents to the trust (as I understand it). You have to legally pass ownership of anything to a trust via a legal document stating I John Doe give X to TRUST OF JOHN DOE. So you kinda have to give the ATF that info anyway. There is a special type of document (can't think of the name of it) that basically states "TRUST OF JOHN DOE is a legal entity" and that's it. This allows say a bank to create a checking account for that legal entity with out John Doe disclose the details of said trust. 199trusts does this document but that's the only one I personally know of

Appoint as many additional co-trustees as you want at any time - Can do this with any trust, just got to write up a document stating who is being added, sign, date, witness, and get notarized.

Remove additional co-trustees at any time - Same as last answer

Personalized, state-specific provisions for your state - This can be tricky, the biggest being perpetuites or dynasty trusts, some states allow them some don't I can't explain them in detail but google it.

Delivered to you by email instantly - Again most do this anyway.

[Sithlord]

DISCLAIMER: I am NOT a LAWYER. DO NOT CONSIDER THIS LEGAL ADVICE.

So you're going to use guntrustguru because they say their trust is "better" than SilencerShop's trust.

As rpk47 stated, there are many items that you may want to consider when obtaining a trust, specifically for NFA items, such as who is a trustee (able to modify the trust). rpk47 gave a good list.

With 41F becoming active soon, you'll probably want a trust where you can easily add/remove additional [temporary] trustees without much hassle (this can be done without notarization, as its an amendment to the trust).

Like rpk47, I have a trust from 199trust.com. Simple, fast, inexpensive. There is no reference to a Schedule A (list of items included in the trust) or any other document, so the handover package to the ATF is always the same. Simple notarization of the trust and the certification of trust, and you're good to go. I've contacted the owner several times with questions, and he has been quick to respond.

Check with your state laws - some may require you to 'fund' your trust before it is legal. Also, there is NO REQUIREMENT to have a bank account opened in the name of the trust; NFA purchases are not considered straw purchases [you are paying for a tax stamp], so the money can come from any account.

[smustian]

Many people use Wildcat Trust and are very happy. http://www.wildcattrust.com/

[Jbremount]

Many people use Wildcat Trust and are very happy. http://www.wildcattrust.com/

Wow, the price is very temping! Now, Will this be a comparable trust in Texas just as the guntrustguru or silencer shop trust?

[AndyT]

I'm not a big fan of the boiler plate trusts

I had a guy named James Willi out of Austin (myguntrust.com). I wanted some special wording as to beneficiaries and trustees so to me this was the way to go. Plus knowing that he will answer any questions I have as well as make amendments if necessary made it worth the price to me ($300)

[DeadRaibead]

Jim Willi is the guntrustguru. $129.95 for 50-State ATF 41F Compliant NFA Gun Trusts
https://www.guntrustguru.com/

I dikked around for 18 months checking out online trusts, talking to lawyers, blah blah.
Every lawyer has there own take on things and how their trust is more legal than others.
Opinions Opinions.
Most lawyers will take your money but not have any real experience with nfa, and use a template from another that they pay a fee for.
Different state issues aside, you will find many opinions on what is the correct and legal way to set up a trust for nfa items.
In the end, the BATFE can change their requirements at any time they see fit, and change the rules.

I went with Jim Willi, as his explanations made sense.
He did not ask me how much my guns are worth, or try to talk me into a platinum or diamond level trust to "protect my assets" etc.

I had many conversations with him directly over the phone, and he was very patient and helpfull with my questions.

In a crap shoot, I would bet on him.
I am a happy customer - not a shill that is affiliated with him!

[Jbremount]

Can some nice, caring,and super intelligent person tell me who to make the check out to!

[Netpackrat]

You're not going to find that dude here. But I made mine out to BATF&E and that seems to work.

[InMyHumbleOpinion]

You're not going to find that dude here. But I made mine out to BATF&E and that seems to work.

First you need to buy a trust so the lawyer gets the first check.