Thinking about SBR...trust or no?

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  • worddoer

    Master
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    42   0   1
    Jul 25, 2011
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    Wells County
    I have been thinking of taking a pistol and making it an SBR. If I do that, I was wondering if a NFA trust would be wise. I saw a lot about that with suppressors a while back. As I understand it, NFA trusts changed and may not be beneficial now days? I am still unclear on that.

    I looked through the Q&A's. The NFA beginner one appears that it may not have been updated much since 2009 and I want to make sure I have the most current info.
     

    OneBadV8

    Stay Picky my Friends
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    52   0   0
    Aug 7, 2008
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    Trust still have more benefits than an Individual, however, it's not as many as their used to be.


    The main benefits as I understand it are simply having multiple owners of said items, therefore allowing multiple to people to be in sole possession of said item. And inheritance is easier, because the person it passes on to will already be allowed to have possession instead of having to fill out a Form 5 (no fees) and letting a class III dealer hold said item until the paperwork comes back.

    :dunno:

    I'm not sure of other differences, but for now that seems to be the only advantages.
     

    medcoxo

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    4   0   0
    Jul 20, 2010
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    Indy, Westside
    yep, there are multiple owners so no need to do anything to pass it on to the next heir. I have several trusts, SBR, Supressor, and one for all of my other guns. Not exactly sure why I did it that way, just seemed the best way to do it. But I only have my NFA items engraved.
     

    jagee

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    24   0   0
    Jan 19, 2013
    44,412
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    New Palestine
    I chose to go individual and not use a trust for my NFA stuff. My kids are way too little and my wife has no interest in being in possession of an NFA item without me present. In the future as my kids get older and if they have interest they can get their own NFA item(s) and stamp(s)! Lol
     

    MCgrease08

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    Mar 14, 2013
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    Earth
    I went with a trust for many of the reasons V8 mentioned. I don't have anything in it yet because this brace nonsense has me wanting nothing to do with the ATF at the moment and I put my SBR plans on hold.

    I will probably add a suppressor or two sooner or later.

    I used attorney Marc Halata to set it up for me. It was super easy and not very expensive.
     

    worddoer

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    Jul 25, 2011
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    It was super easy and not very expensive.

    What do you define as "not very expensive"?

    I heard that there are companies who have trust packages ready for suppressors. Is there something like that for SBR's out there?

    If not, does anyone have an attorney they recommend for a NFA trust in the Fort Wayne area?
     

    JettaKnight

    Я з Україною
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    6   0   0
    Oct 13, 2010
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    Fort Wayne
    What do you define as "not very expensive"?

    I heard that there are companies who have trust packages ready for suppressors. Is there something like that for SBR's out there?

    If not, does anyone have an attorney they recommend for a NFA trust in the Fort Wayne area?

    tagged. :popcorn:
     

    sloppyjoe

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    Mar 27, 2019
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    Brownsburg
    What do you define as "not very expensive"?

    I heard that there are companies who have trust packages ready for suppressors. Is there something like that for SBR's out there?

    If not, does anyone have an attorney they recommend for a NFA trust in the Fort Wayne area?

    I used Marc Halata for my NFA trust. The trust stuff sounds confusing at first, but really it is not that big of a deal. You just want someone who understands the NFA to write it. A standard NFA trust can be used for silencers, SBRs, and machine guns. Marc is a great guy and he can do everything remotely so you can use him from Fort Wayne. Another option is National Gun Trusts online. They are cheap and really helpful for getting you a trust and any questions you have on Form 1s for SBRs or silencers. The small trust cost is definitely worth it in my opinion in case you ever want to share your NFA items in the future.
     

    worddoer

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    Jul 25, 2011
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    Grant Liston

    I thought everyone could benefit from the response I received from Mr. Liston. He replied very quickly to my email. The price is more than some internet options. However, by using a local attorney, I would think that it is far more likely to be done correctly.



    Mr. worddoer:
    I am more than happy to draft an NFA trust for you. I have drafted hundreds of NFA trusts and have all my NFA items in my own trust. I need to know the full names, birth dates and addresses of the people that you would like to be trustees (the people that you would like to have access to the NFA trust items) and beneficiaries (those that you want to have the trust items when you die). Most trusts are named using the grantor’s last name. For example, worddoer Trust. I charge a flat fee of $375. However, if you have questions in the future or need any amendments, I will take care of those for you. I hope all has been well. I look forward to working with you.
    Grant




    0
    Grant Liston
    Partner, Carson LLP
    Direct (260) 469-5026
    Mobile (260) 348-1141
    Office (260) 423-9411
    301 W. Jefferson Blvd., STE 200
    Fort Wayne, IN 46802
    CarsonLLP.com
     

    clayshooter99

    Marksman
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    15   0   0
    Dec 3, 2008
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    I used Grant Liston several years back. He was patient with me and all my questions and was easy to work with to get the NFA trust completed.
     

    darkkevin

    Master
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    16   0   0
    Dec 25, 2010
    3,532
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    crown point
    Been said already, but I used Marc Halata a couple weeks ago, really good guy, called him on a friday, by sunday he had my trust ready to go and all i had to do is have it notarized which i did the following day at a ups store. Lifetime help included with the cost of the trust which was $265
     

    HK Guy

    Plinker
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    0   0   0
    Mar 14, 2009
    112
    18
    I used Marc Halata a few years ago and was more than happy. Everything was done via the phone and email, easy peasy. It cracks me up reading all the posts, how do I do ____ with my trust? Ummm, call the guy who wrote it. The problem with many of the cheap / free trusts is that there is NO support, good luck with that.

    That said, I've got items that are in my trust and items that are individually owned that I haven't switched over. New items get put in the trust, as I think for estate planning the trust is the way to go.
     
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