D.I.Y. Trust?

[smac61]

An apparently "in progress" guide for do it yourself NFA Trusts.
Granted its in Ohio, but looks interesting.

http://www.86th.org/?id=nfa-trust#Trust-Example

Thoughts?

[Remnar]

I'm not sure I would want to send my own "hand made" trust into a government entity like the BATF. I had one drawn up by a lawyer as I felt the cost of doing it right would be minimal as opposed to the cost of me screwing something up.

I am sure there is a web page somewhere that shows how to perform a "do-it-yourself" vasectomy but I would preffer to go to a professional. :)

[HK USP]

I'm not sure I would want to send my own "hand made" trust into a government entity like the BATF. I had one drawn up by a lawyer as I felt the cost of doing it right would be minimal as opposed to the cost of me screwing something up.

I am sure there is a web page somewhere that shows how to perform a "do-it-yourself" vasectomy but I would preffer to go to a professional. :)

Add to that 6 months and 200 bucks later they tell you it is not valid, and then you have to start all over, just not worth the hassle to me...

[rjrivero]

The hassle isn't the worst part. That only takes more waiting time to straiten out. The only example I know of is one in which a DIY trust was sent in with a bunch of Form 4's, and the transfers were approved.

Later, another Form 4 was sent in with the same trust, but it was rejected. The ATF claimed that the other items on that trust were now "Illegally owned NFA Firearms" and brought charges to that individual.

He never did any jail time, but his attorney fees far exceeded the cost of the trust in the first place.

The fact is, a properly written trust done by an attorney affords you some buffer room. Afterall, that's what you pay a lawyer for.

FWIW, an estate trust will run 4-8 times what I've seen the NFA trusts go for.

[darrendeep6]

The hassle isn't the worst part. That only takes more waiting time to straiten out. The only example I know of is one in which a DIY trust was sent in with a bunch of Form 4's, and the transfers were approved.

Later, another Form 4 was sent in with the same trust, but it was rejected. The ATF claimed that the other items on that trust were now "Illegally owned NFA Firearms" and brought charges to that individual.

He never did any jail time, but his attorney fees far exceeded the cost of the trust in the first place.

The fact is, a properly written trust done by an attorney affords you some buffer room. Afterall, that's what you pay a lawyer for.

FWIW, an estate trust will run 4-8 times what I've seen the NFA trusts go for.

Do you have first hand knowledge of this? Years ago a story like this went viral on the error net. That story was debunked as unsubstantiated fear mongering and the source was one of these "gun trust lawyer mills". When asked to back it up and they didnt, Silencer Talk shut the whole thing down. Check it out, see for your self. As for me I used a lawyer, I'm lazy. Many have done DIY trusts with success, do your own research draw your own conclusions. Good luck

[rjrivero]

Do you have first hand knowledge of this? Years ago a story like this went viral on the error net. That story was debunked as unsubstantiated fear mongering and the source was one of these "gun trust lawyer mills". When asked to back it up and they didnt, Silencer Talk shut the whole thing down. Check it out, see for your self. As for me I used a lawyer, I'm lazy. Many have done DIY trusts with success, do your own research draw your own conclusions. Good luck
Darren, I don't have it any longer. I had it bookmarked in my old machine, but I didn't import it into my new one. Without that info, I can't be positive that my previous was a repeat of "internet folklore" or not.

[mpearce]

The fact is, a properly written trust done by an attorney affords you some buffer room. Afterall, that's what you pay a lawyer for.

FWIW, an estate trust will run 4-8 times what I've seen the NFA trusts go for.

I will add the NFA Trust in for no additional charge if someone is getting the complete trust package. Otherwise, I charge $300 for the NFA Trust.

I have only seen one CLE event that incorporates estate planning for the firearms owner.

[darrendeep6]

Darren, I don't have it any longer. I had it bookmarked in my old machine, but I didn't import it into my new one. Without that info, I can't be positive that my previous was a repeat of "internet folklore" or not.

No worries, I actually appreciate and respect your honesty. This topic can get contentious based on who is participating and what interests they have. There are pros and cons to both sides. The only way people can make informed decisions is with objective input. There are those that have a vested interest in seeing any DIY legal instruments go the way of the Dodo. Just my opinion, so it's worth what you paid for it.