IneedsomeNFA wrote:Hello, i am new on this website and I am in the process of creating a NFA trust using NOLO living trust software which came with my 2011 Quicken Willmaker software. I have answered all of the questions and have printed and reviewed the trust, but I have some questions and I would appreciate the help, I just want to make sure I'm doing things correctly.

Please, no safety Stacy "get a lawyer" comments.

1. I can name the trust whatever I would like correct? In the declaration of trust part 1 the software printed out "this revocable living trust shall be known as the John Doe Revocable Living Trust" and the same name in the assignment of property. I can change this in both sections and it should be no problem correct? It is only mentioned in these two sections and I want to changer it to JDoe Trust. No problem...

2. In part 2 declaration of trust in the end of the section is states "The grantor may add property to the trust" I want to change this to "The grantor may add or remove property to and from the trust". Again this should be no problem, correct? I wouldn't word it exactly that way, but what you want to do is no problem...

3. The software printed out an assignment of property and schedule A which lists my Spikes Tactical lower that I plan on making an SBR out of. Is this OK? I plan on starting my NFA collection with this SBR and adding from there, but from what I have read a Schedule A lists all of the items and has to be shown every time to the ATF and Class 3 dealer correct? Is it necessary? Could I just show them a certification of trust? It is listed as "spikes tactical lower receiver, Apopka,FL, U.S.A., serial#xxxxxx, cal multi, mod ST15". I take it that an assignment of property is used every time you add property to the trust and the Schedule A is just a list that shows all of the property? The ATF gets the same copy of my trust and Schedule A every time. Any NFA items you place in the trust will already be registered to the trust so a separate assignment document would be redundant...

4. I have listed my mother as successor trustee, my father and alternative successor, and my brother to determine the grantors capacity. The software mentioned naming a doctor here, but I don't have a very good relationship with any doctors and im only 26, but the software would not let me skip that section. It said "Don't name your successor trustee. You don't want your successor trustee wearing two hats -- that is, making the decision about control, and then taking over. This could create at least the appearance of a conflict of interest, and might make financial institutions hesitant to accept your successor trustee's authority" since this is all NFA do you think It would be ok if I name my mother to determine my capacity? Your mother should be fine to list...

5. I have thought about adding some Title I(non NFA) items to this trust, what do some of you think about that? is that a wise idea? Not all but just some. A trust can hold whatever you want to place in it...

6. As I begin to aquire more NFA items Do I have to do an assignment of property as soon as I get my stamp? Again, when a Form 1 or Form 4 is filled out, the trust will be the applicant, and as such the item will already belong to the trust...

Finally, I am the gun guy in my family and all I am really trying to accomplish here is allow my mother and father to be able to sell these in the event of my demise. At you demise, all property of the trust goes to the listed beneficiaries, not for the successor trustees to do what they want...

IneedsomeNFA wrote:Yeah, I was thinking about doing that just for the sake of keeping it simple. I guess I will then.

Thanks for the help. Are there any tips you can give me when filling out forms? Im going to e file a form 1 to sbr that lower as soon the trust notarized.

IneedsomeNFA wrote:Also, where can I find who constitutes a proper person to own nfa items? I want to double check the requirements with my beneficiaries

Bendersquint wrote:As much as you don't want to hear it, you should be asking a lawyer these questions, not the internet.

LawBob wrote:

Bendersquint wrote:As much as you don't want to hear it, you should be asking a lawyer these questions, not the internet.

Let's take the car with faulty brakes to the top of the mountain and see what happens...

IneedsomeNFA wrote:

LawBob wrote:

Bendersquint wrote:As much as you don't want to hear it, you should be asking a lawyer these questions, not the internet.

Let's take the car with faulty brakes to the top of the mountain and see what happens...

I dont get it.

Kanook wrote:]If the brakes on the car are/were faulty, you would have them fixed before going to the top of the mountain so that there would be no risk. Most people are not mechanics and choose to have them fixed by a professional.

I had my brakes fixed by a professional so that any and all questions are backed up by the mechanic, not the internet.

That and answering the questions asked could be considered practicing law, which is illegal unless you are a lawyer.

dark2023 wrote:

That and answering the questions asked could be considered practicing law, which is illegal unless you are a lawyer.

No one has asked the original poster to fill out any documents, no one has drafted anything, we have all done nothing but done anything but give advice.
I do not see how merely advising a person on the internet about how one of us would go about dealing with his questions can be considered "practicing law".

Though I do agree that a lawyer would probably give better advice in this situation, that is their job after all.

IneedsomeNFA wrote:Also, where can I find who constitutes a proper person to own nfa items? I want to double check the requirements with my beneficiaries

doubloon wrote: It's just a suppressor, not a pot of gold. let them buy they're own.