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Trust Pitfall


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#1 Robert Henley

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Posted 04 November 2019 - 06:09 AM

I've seen some posts by forum members over the years that seemed to advocate for a trust so their kids could be on it.  I saw the following post over at Sturm:

 

http://www.sturmgewe...o-for-everyone/

 

See 4th post from the top.  Not a good idea.


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#2 b_san

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Posted 04 November 2019 - 11:06 AM

Let's just say, Mike seems like he means well and he's been around a long time but his "legal" advice never seems to match the actual law and many of his stories seem to be less than believable. It's simple to add or remove trustees or amend the beneficiary, removing the person under indictment would have removed any risk to the collection unless there's "more to the story".
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#3 johnsonlmg41

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Posted 04 November 2019 - 08:06 PM

That's just not how it works.  Even if you have nfa items personally and they get confiscated you still retain ownership and can sell them.  I've bought a number of guns from felons who were no longer in possession of their guns.  One guy went down for manslaughter (I never actually met the guy) and sold off his stuff.  Title one guns are much more difficult to make that happen because they are not titled.  If the guns were a part of an actual crime or maybe a drug house, all bets are off.  Always more to the story however if it really did go down like that.  There are many instances where people abandon their stuff for a number of reasons, and allow it to be kept, sometimes just due to ignorance. 

I see other potential pitfalls with trusts, but that scenario isn't one of them.


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#4 wwiifirearms

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Posted 07 January 2020 - 02:01 PM

My trust is written with a clause that automatically removes any trustee that becomes under firearms disability the moment it is not legal for them to be a trustee, they are not a trustee. This is why you use a real lawyer with NFA knowledge, not a boilerplate trust. They would actually have to have the firearm and be under disability, and even so it would impact only them and the firearm in their possession since they would have no status as a trustee.
-Ray
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#5 brucea4

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Posted 10 January 2020 - 09:19 PM

Do I need a Trust to will my NFA items to my wife?


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#6 RoscoeTurner

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Posted 10 January 2020 - 10:33 PM

Do I need a Trust to will my NFA items to my wife?


No


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#7 michaelkih

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Posted 24 January 2020 - 04:37 AM

That story has to be made up or modified.
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