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Thread: Creating A Trust To Own NFA Firearms

  1. #1
    Marksman

    Premium Member

    Creating A Trust To Own NFA Firearms

    aaaaa
    Last edited by bayoutrigger; March 21st, 2011 at 08:58 PM.

  2. #2
    Nope. spanky's Avatar
    Sticky for you sir.

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  3. #3
    Newbie

    Thanks...

    Thank you VERY kindly with sharing this information with us. You are a scholar AND a gentleman. Take care...
    I'm good, really, really good.

    Bobby

  4. #4
    Marksman
    Excellent...thanks again.

  5. #5
    Newbie Cajunshooter78's Avatar
    Very nice, thanks for sharing.

  6. #6
    Cry for HB27
    As Louisiana trust law differs from everyone else services like Quicken Willmaker will not work. Does anyone know what it would take to create a trust without contacting an Attorney? I don't wish to spend several hundred on an attorney.

    I found this site that sells the forms: http://www.nupplegal.com/livingtrust-louisiana.html

  7. #7
    Bayou Photo Shooter aroundlsu's Avatar
    The dude above posted the forms you need. While he recommended using an attorney, I think you can just fill in the blanks yourself and have it notarized.

  8. #8
    Cry for HB27
    Quote Originally Posted by aroundlsu View Post
    The dude above posted the forms you need. While he recommended using an attorney, I think you can just fill in the blanks yourself and have it notarized.
    This part scares me.

    WARNING: This should not be used to attempt to create a legal Trust. A Trust can only be
    prepared by a qualified attorney who has provided you with appropriate counsel concerning
    Trusts and prepared a document suitable to your particular needs.
    I figured this was just an example and wouldn't fly. I may give it a shot though.

  9. #9
    FFL/Class 3 NFA Dealer

    Silver Member
    TDH's Avatar
    Quote Originally Posted by Solid View Post
    This part scares me.



    I figured this was just an example and wouldn't fly. I may give it a shot though.
    I believe it is taken from his working trust that he has used for several NFA items.

    The warning was posted in my opinion solely to relieve him of any legal responsibility for what you choose to do with the information.
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  10. #10
    Cry for HB27
    I'm working through it, but all the wording is for two trustees/settlors that are married. If I added someone to it, this someone isn't married to me yet.

    Both Settlors or the surviving settlor upon the death or incapacity of the other, reserve the unrestricted right to modify the terms of the trust created herein or to revoke this trust in whole or in part.

    The Settlors or upon the death of one of the Settlors the surviving Settlor, shall be the lifetime beneficiaries of trust income and principal.
    Not sure how that would be rephrased for a single person.

  11. #11
    dot dot dot Paulup's Avatar
    You can always order your class III item from Major Malfunction, they'll do the trust for you and all you have to do is get it notarized according to their website.
    "Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats"
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  12. #12
    Cry for HB27
    I'm turning a SLR-107UR into a SBR, so that's a no go.

  13. #13
    Shooter
    Solid

    It's a copy of my trust that is posted in the thread. I have four stamps already with it. It is advised that you let an attorney review it for correctness and get it notarized.

    Good luck.

  14. #14
    Marksman

    Premium Member
    [/Quote]The warning was posted in my opinion solely to relieve him of any legal responsibility for what you choose to do with the information.[/QUOTE]


  15. #15
    Class 3/SOT/Houma LA Landry308's Avatar
    Quote Originally Posted by Paulup View Post
    You can always order your class III item from Major Malfunction, they'll do the trust for you and all you have to do is get it notarized according to their website.
    That's up to you. I'm almost certain that the "generic" trusts that are supplied by dealers from out of state are not La specific. ATF will approve them, no problem. Done it many times. The problem may come in the future, if your trust comes under close scrutiny for any reason, and it is determined not to be valid in La. I would suggest using a source La specific, like findlegalforms.com.
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  16. #16
    On Target
    Do you have to submit the citizenship form with a Form 4, and for the Transferee's Name you put the trust name right?

  17. #17
    On Target
    Ah, I see now what folks are talking about with the trusts. I can form these kinds of trusts easily for folks, but the concern I have is that it seems that the law is a bit "unsettled" when it comes to the BATF and trusts. So, even a perfectly valid trust might not work exactly as intended.

    I'll be happy to do some research on this, and I think I can come up with something for folks that would be affordable. Worst case is that if I screw it up, at least you probably wouldn't be looking at criminal penalties since there was no criminal intent, and I do have plenty of malpractice insurance you can sue me for.

    I have to admit, I'm not that well versed in the BATF regs, so I would want to familiarize myself with their procedures first, but it sounds interesting. Give me a week or so and I'll see what I can do.

  18. #18
    I'm your huckleberry... Doc Holliday's Avatar
    If your trust is held to be invalid for any reason, there could be major consequences for you. An invalid trust involving items regulated by the NFA could among other serious consequences, result in you being ordered to pay large fines, serve jail time. or both. If an attorney draws up your trust and it is found to be invalid, you at least have the opportunity to bring an action in malpractice against the attorney as long as you bring the action within 3 years of the date the lawyer prepared the trust. If you use general and sometimes inaccurate or inappropriate information concerning trusts and/or examples of trust documents found on the Internet you have no one to blame but yourself. Either way, it is you that will suffer any consequences of an invalid trust.

    I think that this would be most everyone's concern...

    I plagiarized the posted trust & had my personal attorney review it. His response was that it was a valid LA trust & that for the intended purpose it would be fine. I'm waiting for my second suppressor to arrive at my dealer & when it does, I'm registering it to my trust. I wish I had done it with my other 4 NFA pieces, instead of to myself as an individual.
    Last edited by Doc Holliday; April 8th, 2009 at 09:09 PM.
    Nothing in this post should be considered information posted in an official capacity. It is the authors personal opinion alone.

  19. #19
    Marksman
    Two important items...

    #1 Major Malfunction will NOT do trusts for people in LA...don't bother asking.



    #2 So the big question is WHAT MAKES A TRUST "VALID" or INVALID in Louisiana..


    I can tell you my friends:

    The first thing that makes a trust INVALID in LA is if it does not have a notary signature AND TWO WITNESSES. Investigate almost every single trust out there (outside LA) and you will note the missing witnesses. The louisiana Legal code (RS 9:1752) says "An inter vivos trust may be created only by authentic act". Authentic Act means in LA legal talk - "two witnesses and a notary'.

    So what is the other big problem people have with non-LA trusts? They think that certain language needs to be present, and that just isn't the case. Yes, you can not have the same person be the trustee, trustor, successor trustee, ancillary fireman and the judge...but that is ANY trust in the country. Look at the law under RS 9:1753 and you will see that the law says that "NO TECHNICAL LANGUAGE IS REQUIRED...i.e. anything is valid as long as a trust is implied". (http://law.justia.com/louisiana/codes/123/106756.html)

    Anyway...point is this: The trust presented here is certainly fine. Enjoy it and use it.

  20. #20
    Marksman lpso708's Avatar
    Thanks for the information will come in handy very soon.

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