NFA Purchase: Best Route?

[Don Robison]

No person owning it? I'm all confused guys... I see how you get/make a trust, but I don't understand what it is exactly. Who owns the gun?

The trust owns the gun. It's no different than if your business owns a car.

[valentin_84]

Oh, gotchu! Great analogy! So, the trust is under your name and the gun is owned by the trust.

[Dr John Meade]

Oh, gotchu! Great analogy! So, the trust is under your name and the gun is owned by the trust.

Sort of. You create the trust exactly like creating a business. You name "trustees", similar to officers of a corporation, who are authorized to function in the name of the trust (sign contracts, etc). Once the trust is created, it exists as an independent legal "person", for whom you are the agent.

[valentin_84]

Ok, I understand! Thanks for the info guys!

[HarvKY]

Think of the trust as an "entity" whose name the gun is registered in.

You [and/or other person(s) - if you so choose] are then designated as the person who is in charge of/owns/represents/is responsible for/liable for whatever is in that trust.

...obviously you can tell from my choice of wording above that I am not a lawyer :-) - thank goodness for that ;-)

Cheers,
HarvKY

[dtom29]

A trust also makes things very simple if/when something happens (you die)to you. You name co-trustees and/or successor trustees to adminster the trust after your gone. All this flows smoothly without the courts having to be involved.

[danny_45]

Think of the trust as an "entity" whose name the gun is registered in.

You [and/or other person(s) - if you so choose] are then designated as the person who is in charge of/owns/represents/is responsible for/liable for whatever is in that trust.

...obviously you can tell from my choice of wording above that I am not a lawyer :-) - thank goodness for that ;-)

Cheers,
HarvKY

what are the steps to create? a trust and how much it cost?

[Dr John Meade]

what are the steps to create? a trust and how much it cost?

Please read post #7.

[Oedipus]

Keep in mind state laws, too. I was going to go the trust route here in NC, where my county CLEO will not sign off on NFA forms. He's a pretty good guy, cranks out the CCWs like nobody's business, but has pressure on him from the state level. The state laws are worded weirdly in that it neither specifies the ability nor inability to circumvent CLEO signoff via a trust, and our Asst AG receives notification of every one approved by BATF. He's a Donk and maintains a very high interest. I've never heard nor seen anybody being prosecuted for it, but I've seen where local NFA lawyers have advised against it. I've not the funds to be the first person to fight it if my number came up, and I've also decided I'm way too pretty for prison.

[Gabe Suarez]

www.guntrustlawyer.com

Good guy, reasonable, and good service. He ammended mine and made it bulletproof. Total cost was $600. Tell 'em Gabe Suarez sent you and that I said he was good to go.