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 Questions about NFA trusts. *Solved*
#2469499
08/01/11 02:23 AM
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Joined: Jul 2011
Posts: 217
narphenal
OP
Woodsman
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OP
Woodsman
Joined: Jul 2011
Posts: 217 |
Let's say my dad was going to set up an NFA trust.
Could I just use his trust for any NFA items I get?
As in, he is the trust holder, and I am the beneficiary. He has some items in said trust, and I was going to by a suppressor. Could I use the trust as a Corp., and the items be used by both of us?
Thanks.
Last edited by narphenal; 08/01/11 03:06 AM.
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Re: Questions about NFA trusts.
[Re: narphenal]
#2469655
08/01/11 03:02 AM
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Joined: May 2009
Posts: 4,243
DallasShootingSupplies
Extreme Tracker
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Extreme Tracker
Joined: May 2009
Posts: 4,243 |
Not as a beneficiary. He would need to add you as a trustee, then you can use them whenever you want.
The trust is better than a corporation or LLC, in the regard that you don't have to file yearly profits etc. I would only use a trust.
So have him add you as a trustee, then you will have access to whatever property is in the trust (schedule A is the list of property on back page)
Last edited by DallasShootingSupplies; 08/01/11 03:04 AM.
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Re: Questions about NFA trusts.
[Re: DallasShootingSupplies]
#2469666
08/01/11 03:06 AM
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Joined: Jul 2011
Posts: 217
narphenal
OP
Woodsman
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OP
Woodsman
Joined: Jul 2011
Posts: 217 |
Not as a beneficiary. He would need to add you as a trustee, then you can use them whenever you want.
The trust is better than a corporation or LLC, in the regard that you don't have to file yearly profits etc. I would only use a trust.
So have him add you as a trustee, then you will have access to whatever property is in the trust (schedule A is the list of property on back page) Thanks, we haven't set it up yet, but we will this way.
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Re: Questions about NFA trusts.
[Re: narphenal]
#2478776
08/04/11 02:28 PM
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Joined: Dec 2008
Posts: 1,209
chongo
Pro Tracker
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Pro Tracker
Joined: Dec 2008
Posts: 1,209 |
Sorry to hijack but what is the avg. cost of setting up a trust?
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Re: Questions about NFA trusts.
[Re: chongo]
#2478847
08/04/11 03:02 PM
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Joined: May 2009
Posts: 4,243
DallasShootingSupplies
Extreme Tracker
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Extreme Tracker
Joined: May 2009
Posts: 4,243 |
Sorry to hijack but what is the avg. cost of setting up a trust? We have an attorney contracted with us to do it for $300.
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